ASIC releases first FSCP finding
An adviser who impersonated a client during two telephone conversations with a bank is the first to be reprimanded by the ASIC Financial Services and Credit Panel. In line with previous guidance, the name of the planner has been left out of any public notice.
June 02, 2023
FSC to implement New Life Code of Practice next month
The Financial Services Council has reminded the industry it will implement the New Life Code of Practice on 1 July 2023.
June 02, 2023
IFM Investors and ISPT mull merger
Industry super fund-owned IFM Investors and ISPT are considering merging at the behest of their common shareholders, the fund managers said in a joint statement on Friday as asset owners look to cut management fees amid lower returns.
June 02, 2023
ASIC issues first of its kind stop orders for Spaceship Super, Mitrade
The corporate regulator has issued first of its kind stop orders against a superannuation product and a CFD product for deficiencies in their Target Market Determinations.
June 02, 2023
FirstChoice ranks first for overall satisfaction: report
CFS’ FirstChoice platform has ranked first for overall satisfaction in the ‘2023 Wealth Insights Service Level Report’.
June 02, 2023
CareSuper and Spirit Super agree to merge
Industry super funds CareSuper and Spirit Super will merge in late 2024, creating a combined fund with more than 500,000 members and almost $50 billion in Funds Under Management.
June 01, 2023
Mutual Limited Income option added to FirstChoice
The Mutual Wholesale Income strategy has been added to the CFS FirstChoice Investment and Super & Pension platform menus, effective 22 May 2023.
June 01, 2023
Hayne’s four key concepts to rebuild trust in financial services
Former High Court justice Kenneth Hayne has identified four key things organisations should consider to help them avoid repeating the issues that caused such an undermining of trust in financial services. The comments from the former royal commissioner come amid a strenuous debate about the Quality of Advice Review and the argument it may bring back conflicted advice models.
May 31, 2023
