Don’t ask, don’t tell: Licensees dodging reporting obligations
ASIC’s latest analysis of the breach reporting regime has found once again that a very small number of AFSLs are responsible for lodging the vast majority of reports. What the rest of them are doing isn’t entirely clear, but the regulator has warned them it’s stepping up its efforts to find out.
November 01, 2023
Akambo, First Financial latest to partner with Merchant
Just 18 months after merging, with hints that further expansion would be on the cards, Akambo Financial Group and First Financial are partnering with New York-based strategic capital provider Merchant Investment Management.
November 01, 2023
State Street cuts management costs of six Australian SPDR ETFs
Asset management business State Street Global Advisors has announced substantial management cost reductions on six of its Australian-based SPDR ETFs.
November 01, 2023
Maple-Brown Abbott promotes within distribution team
Boutique fund manager Maple-Brown Abbott has made a slew of promotions within its distribution team.
November 01, 2023
Managed fund registrations soar while super products dip in September quarter: APIR
Industry utility APIR has identified 228 financial product registrations in the September quarter of 2023, in line with the five-year rolling average for the same period.
November 01, 2023
Gender, income gaps persist in retirement savings: ASFA data
Industry data has found that a $25,000 difference in annual salary will mean 10 extra years of work when it comes to accumulating a comfortable superannuation balance before retirement.
November 01, 2023
QAR super advice proposals still in ‘deep consultation’ mode
After announcing super funds would receive an expanded remit to give more advice as part of the Quality of Advice Review response in June, the government is still mulling key policy details, including minimum educational standards and advice fee deduction arrangements. It is also still working on the so-called “quick wins” bill of less controversial advice reforms, dashing hopes draft legislation would be released in October.
October 31, 2023
How super saved Australia from becoming a ‘banana republic’
Australia has shifted from being a capital importer, which it has been for most of its history, to a capital exporter. And as the sector has grown exponentially and turned to global markets for investment opportunities, superannuation funds are a big part of the story.
October 31, 2023
LifeBid raises $1.45m in equity funding
Life insurance platform LifeBid has raised $1.45 million in equity funding since launching its equity raising campaign in August, surpassing its goal of $1 million.
October 31, 2023
MLC Life appoints COO and CPO
MLC Life Insurance has appointed Jane Murray and Kristin Miller to the roles of chief operating officer and chief people officer, respectively.
October 31, 2023
Betashares launches currency hedged version of FTSE 100 ETF
ETF manager Betashares has launched a currency hedged version of its FTSE 100 ETF on the ASX.
October 31, 2023
Financial stress takes a heavy toll: Rest survey
The latest survey by a profit-to-member super fund Rest has revealed that financial stress and cost-of-living pressures are taking a toll on the mental health and outlook of its young members.
October 31, 2023
