News Articles for Colonial First State

Colonial cops $20m fine

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Colonial First State has been ordered to pay a substantial penalty by the Federal Court after misleading nearly 13,000 of its members about their superannuation.

Colonial misled superannuation customers

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Superannuation provider Colonial First State has misled thousands of customers over whether they should choose a low-fee product.

ASIC sues CBA over dodgy super advice

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The Australian Securities and Investments Commission is suing the Commonwealth Bank and subsidiary Colonial First State Investments over a banking royal commission finding that the latter paid bank staff to promote a superannuation product to customers.

CBA takes $1.5bn COVID hit, warns on house prices

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Commonwealth Bank is setting aside $1.5 billion for potential defaults on account of COVID-19-related shutdowns and will sell a majority stake in its Colonial First State wealth management unit, as it braces for an economic slowdown and falls in house prices.

CBA suspends mortgage demerger

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Commonwealth Bank of Australia is suspending the demerger of its mortgage broking and wealth management businesses to focus on customer remediation and implementing the recommendations of the royal commission.

CBA in $4.13bn Colonial First State sale

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Commonwealth Bank will sell its asset management arm to Mitsubishi UFJ Financial Group for $2.9 billion in a surprise sale, the latest business to be sold by an Australian financial giant amid unprecedented regulatory scrutiny.

CBA hit with super returns class action

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Commonwealth Bank and its wealth management arm Colonial First State have been hit by a class action law suit over allegedly uncompetitive superannuation returns.

Primewest in $113m Exchange deal

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A long-running campaign to sell a 50 per cent stake in Exchange Tower is coming to a close, with property syndicator Primewest to pay $113.5 million for half of the CBD skyscraper.

Exchange Plaza sale hits leasing hitch

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The campaign to sell Colonial First State Global Asset Management's half share of Exchange Plaza appears to have hit a speed bump amid concerns over the tower's key tenant.

Property trust recommended buy: broker

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Property trust company Col-onial First State Industrial (CIP) is recommended a buy by stockbroker JD Carmichael & Co due to a weaker price on the bourse.