CommSec fined $20m for overcharging customers
CommSec has been ordered to pay a $20 million penalty for breaches including overcharging customers more than $4.3 million in brokerage fees.
AMP and Dixon fined millions by Federal Court
AMP will pay $14.5 million for charging close to 1500 super members fees for no service, while Dixon Advisory will pay $7.2 million for providing inappropriate advice.
Kim Kardashian launches new investing firm
She founded KKW Beauty and the SKIMS shapewear line. Now Kim Kardashian has a new venture, launching her own private equity firm, SKYY Partners.
‘Long overdue’ update to banking royal commission
Four years on from the banking royal commission, the final reforms will be introduced to parliament this week, a move financial services minister Stephen Jones says is "long overdue".
The five worst-performing super funds in Australia
Five MySuper products have failed the second annual MySuper performance test, with four of them failing for a second time.
$102 million to be repaid after dodgy insurance tactics
Aussies who bought policies from Freedom Insurance could be entitled to compensation after ASIC uncovered shocking sales tactics.
Aussies pay the price for early release of super
Almost a million super accounts, largely held by women, single parents and the unemployed, were closed or nearly emptied during COVID-19.
Suncorp to pay $33 million over super class action
Suncorp is set to pay $33 million to settle a class action brought by super fund members, but $19 million of that will go towards legal fees.
Squirrel Super fined $55k for property claims
Squirrel Super claimed that metro residential property was likely to double in value every seven to 10 years - claims they repeated more than 9000 times.
ASIC bans Spaceship chair for two years
The chair of Spaceship Capital has been banned by ASIC for failing to understand the group's services, after a number of members were assigned to the wrong super product.