ASIC unsurprised at govt hesitancy around DBFO post Shield, First Guardian
ASIC Commissioner Alan Kirkland isn’t surprised that the government has changed course on its approach to the Delivering Better Financial Outcomes legislation, after the $1 billion Shield and First Guardian collapse impacted progress of the reforms.
July 30, 2026
Industry tensions over who will lead on cyber governance standards
The Financial Services Council has criticised the Association of Superannuation Funds of Australia for engaging in anti-competitive behaviour for applying to the country’s consumer watchdog for an exemption to negotiate with third-party vendors on behalf of all super funds. The government has deferred to the associations to work together on creating a standard, but the dispute raises questions over whether the industry can self-regulate.
July 29, 2026
FAAA calls for third-party whistleblower protections
The Financial Advice Association Australia said it could be exposed by a loophole in the law governing whistleblower protections when it needs to refer information to ASIC, as professional bodies are not included in whistleblowing regimes.
July 29, 2026
Adviser numbers to settle at 14.8k by 2030: Wealth Data
Adviser researcher Padua Wealth Data expects the number of advisers in Australia to reach 14,796 by 2030. Current adviser numbers have stabilised around the 15,000 mark after the fallout from the Hayne royal commission and the introduction of professional standards saw five-figure departures from the industry.
July 28, 2026
WT defines success by growing businesses, not selling services
WT Financial Group managing director Keith Cullen believes the licensee’s commercial success isn’t centred around offering more services to charge advisers but rather lifting the commercial capabilities of the underlying businesses.
July 27, 2026
ClearView shareholders agree to $415m acquisition by Zurich
Shareholders of ASX-listed life insurer ClearView have voted in favour of an acquisition by Swiss-based peer Zurich. The deal further consolidates the Australian life insurance market, with most firms now owned by internationally based parent companies.
July 27, 2026
CGT, negative gearing reforms reflect Australian values
Labor has built a generational political brand, and one that endures in the face of some major challenges here and abroad, Conexus Financial founder and managing director Colin Tate told the 50th ALP National Conference in Adelaide. But it must push back against extreme demands on AI and technology if it is to boost productivity and seize a huge economic growth opportunity.
July 27, 2026
Super funds urged to rebuild ‘trust bank’ on member services
One in five members who contacted their super fund for an update on insurance claims still felt left in the dark afterwards, with long hold times, an unfriendly tone and heightened emotional stress emerging as the main customer gripes during the process, according to CoreData. As regulator and member pressure mounts on group insurance, funds need to think hard about how they want to restore trust.
July 24, 2026
Super policy centre-stage at Labor Party conference
Such is the hallowed place superannuation enjoys on Labor's policy platform that a motion extending the super guarantee to young casual workers was the first item of business at the party's historic 50th convention in Adelaide on Thursday. But debate over AI and data centres could spell trouble down the track for investors.
July 24, 2026
Escala looks to national expansion one year on from Focus deal
High-net-worth specialist advisory Escala is looking to expand beyond Sydney and Melbourne to become a national brand, a year on from a restructuring of the business by US-based Focus Financial Partners.
July 23, 2026
Crole’s legacy is a tarnished public company and a burned profession
The departure of Sequoia CEO Garry Crole isn’t a shock: despite the company being heavily implicated in the Shield and First Guardian collapse, his departure had been in the works for two years. But he leaves behind a tarnished ASX-listed company and a profession undergoing another round of regulatory reform.
July 22, 2026
