Australia
NAB sale of wealth arm to IOOF approved
A$1.4bn deal could not go ahead until Aussie regulator gave green light
Banking giant settles class action for A$30m
After it was accused of ‘unfairly overcharging’ clients for life insurance products
AMP denies CEO will step down
He has been at the helm of the Australian wealth giant for two years
Would an exit levy help keep costs down for advisers?
It would mean financial institutions leaving the sector still contribute
Aussie trade body wants to ban the term robo-advice
‘It is time to address financial product information being called advice when it is not’