Following the closure of four investment teams last month by First Sentier Investors, Colonial First State has proposed multiple replacement managers for the CFSIL funds.
The regulator failed to overturn a Federal Court finding that the Commonwealth Bank of Australia and Colonial First State did not receive “conflicted remuneration” benefits under a superannuation agreement.
Earmarking some $520 million in an indemnity deed to former subsidiary Count Financial, CBA’s full-year results reveal a trial date has been fixed for March 2024.
Colonial First State will pay $100 million to settle a class action over fees that were illegally charged to members to pay commissions to financial advisers.