Archived News for Finance Sector Professionals

St Andrew’s Insurance has announced the signing of their newest Corporate Partner, Mortgages Today Pty Ltd which trades as Wealth Today.

Wealth Today is part of the Today group of companies, operating at the cutting edge of development within the financial services sector, with a focus on the mortgage broker industry.

St Andrew’s CEO, Renato Mazza, said the deal with Wealth Today signalled a new growth phase.

Australia to host international symposium on an integrated financial market for the Asia Pacific

Australia will host an international symposium on regional financial market integration in 2013, bringing together private sector leaders and regulators in the financial services industry from across the Asia Pacific region.

Australian finance sector sheds 10,000 jobs: report

Figures released in the Banking Job Loss Survey carried out by UNI Finance, the global union for the banking and insurance industries, show that the Australian finance sector has shed more than 10,000 jobs since the GFC, and a further 6300 positions have been outsourced offshore.

ABACUS claims customer-owned banking sector outperforming APRA figures

Abacus, the industry body for the Australian mutual financial services sector, has released figures which it claims show that the customer owned banking sector – credit unions, building societies and mutual banks - are in an even stronger position than the latest APRA data indicates.

CIO Index strengthens from weak base

The Chief Investment Officer Index released by the Financial Services Council (FSC) shows CIO sentiment is improving, but remains weak.

IPA calls for super to be aligned with PAYG

The Institute of Public Accounts (IPA) has called on the Government to reconsider proposed changes to superannuation in relation to fund notification requirements.

Research to rate superannuation funds

The award of one of three national scholarships to Flinders Business School PhD student Mrs Yen Bui will fund a study into the efficiency and performance of Australia’s superannuation funds.

Reserve Bank consults on Financial Stability Standards

The Reserve Bank has published a consultation paper on a proposal to determine new Financial Stability Standards (FSSs) for central counterparties and securities settlement facilities.

Sydney to host key G20 meetings

The Federal Government has announced Sydney will host a G20 Finance Ministers’ and Central Bank Governors meeting in 2014.

Government moves to introduce loss carry-back into tax system

The Federal Government has called on stakeholders to contribute to planned legislation that will see the introduction of loss carry-back into the business tax system.

Government passes international investor tax reform

The Federal Government has passed its Tax Laws Amendment (Investment Manager Regime) Bill 2012 through parliament, which aims to reduce uncertainty around the use of Australian fund managers by international investors.

The Trust Company appoints new CFO

Independent trustee company, The Trust Company (TRU), has announced the appointment of Shailendra Singh as the company's new Chief Financial Officer.

Consumer spending slides

The Commonwealth Bank’s Business Sales Indicator (BSI) has shown that consumers are returning to their conservative ways in the absence of further stimulus measures.

Government backs evidence based default super process

The Federal Government has announced its support for an evidence based and expert led process for selecting and assessing default superannuation funds in modern awards.

NAB narrows customer satisfaction gap

The NAB bank has experiencing a resurgent customer satisfaction rating amongst its business customers, according to the latest results from DBM Consultants’ monthly Business Financial Services Monitor (BFSM).

$400 million lost to fraud finds report

A report released by forensic accountant specialists Warfield & Associates has found that nearly $400 million was lost to industrial fraud, with 89 cases being documented involving 93 employees.

Government caps payday loan fees

The Federal Government has passed its Consumer Credit Legislation Amendment (Enhancements) Bill 2012 through Parliament, clamping down on what it calls loan sharks by capping the limits on what lenders can charge.

ABS figures show healthy wage growth

Figures released by the Australian Bureau of Statistics (ABS) have found a 3.7 per cent increase in the average wage of Australian workers.

Banking still tough after GFC

Financial comparison specialist RateCity has published a new study that shows that five years after the worst of the global financial crisis, its still increasingly tough for borrowers, and only better for savers who make it a point to shop around for the best money deals.