APRA announces proposed updates to SPS 515
APRA is updating Prudential Standard SPS 515 Strategic Planning and Member Outcomes (SPS 515) to drive better outcomes for superannuation members in areas such as trustee expenditure of member funds, management of financial resources, and the transfer of members in and out of funds.
September 21, 2023
ASIC finalised over a thousand AFSL applications in FY23
ASIC finalised over 1000 Australian Financial Service Licensee applications in the last financial year.
September 21, 2023
HESTA welcomes Victoria’s 2024-34 Housing Statement
Industry super fund HESTA has welcomed the Victorian Government’s 2024-34 statement on housing and the partnership approach to foster the conditions necessary to stimulate investment and expedite the construction of high-quality homes.
September 21, 2023
Global housing resilient amid inflation surge: UBS Report
The world’s housing markets have displayed remarkable resilience in the face of a global surge in inflation and interest rates, according to the UBS ‘Global Real Estate Bubble Index 2023’.
September 21, 2023
ASIC sues crypto exchange Kraken for DDO failures
ASIC has commenced civil penalty proceedings in the Federal Court against Bit Trade, the provider of the Kraken cryptocurrency exchange to Australian customers.
September 21, 2023
MLC Life launches adviser discounts
MLC Life Insurance has launched a campaign called “It’s not a miscount” to promote its new business pricing, including discounts that are available to retail customers through their adviser.
September 21, 2023
Outsourced paraplanning: The pros and cons
Outsourcing services is far from unusual in the business world and with talent shortages in the advice industry, advice practices have to weigh up the challenges of hiring internal paraplanners amid a war for talent, or relying on outsourced services in Australia or overseas.
September 20, 2023
Bucking the views of the older generation, the youth want advice
Currently asset poor, the younger generation of Australians are more open to taking professional financial advice but are faced with the reality they can’t afford it. Meanwhile, the older generation who can afford advice have less interest in doing so.
September 20, 2023
New adviser registration requirement delayed to 2024
ASIC is extending the date by which financial advisers must be registered to 1 February 2024, due to the relevant legislation being stalled in Parliament.
September 20, 2023
Interactive Brokers pays $832k penalty for ‘negligent’ and ‘reckless’ conduct
Interactive Brokers Australia has paid a penalty of $832,500 to comply with an infringement notice from the Market Disciplinary Panel.
September 20, 2023
iFactFind and Voyant integrate services
Fintech start-up iFactFind and global financial planning technology company Voyant have integrated their tech services to facilitate client data transfer, enhance connectivity, and drive business efficiencies.
September 20, 2023
The ‘haves’ and ‘have-nots’ of Australian retirees
Australia’s retirement framework ranks amongst the best in the world but, with financial advice becoming scarce, recent findings show that retirement will become a dual class system if super funds don’t deliver better solutions to maximise the benefits available.
September 19, 2023
