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Mutual banks announce intention to merge
P & N Bank and Beyond Bank have signed a Memorandum of Understanding (MOU) intending to merge. The customer-based banks collectively have 450,000 members and if the merger goes through, the new entity will create one of Australia’s largest customer-owned banks. Key components of the merger include the merged entity servicing a vast metropolitan and...
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Financial planning: associate to provisional adviser
The financial advice industry has faced many challenges in recent years due to the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017 commencing and introducing reforms to the Corporations Act 2001 (Corporations Act), to raise the education, training and ethical standards of financial advisers. Financial advisers must complete an approved qualification at the tertiary...
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Australian Information Commissioner suing cyber-hacked Medibank
Health insurer Medibank is facing a possible maximum fine in the trillions of dollars as a result of a 2022 data breach. The Australian Information Commissioner filed proceedings against the insurer for failing to protect its customers’ data with the action welcomed by cyber security experts and former customers. The Office of the Information Commissioner...
