AustralianSuper to pay back $70m for excessive charges
AustralianSuper has apologised to around 100,000 members after a review of its processes found a combined $70 million worth of incorrect charges. Super Consumers Australia has called on all super funds to transparently review its processes to confirm members are not paying any similar charges.
May 12, 2023
ASIC sues HCF Life for pre-existing condition contracts
ASIC has commenced civil proceedings in the Federal Court alleging three types of insurance policies issued by HCF Life Insurance Company contain unfair contract terms and could mislead the public.
May 12, 2023
Morningstar managing director to depart
Morningstar Australia and New Zealand managing director Jamie Wickham will leave Morningstar at the end of this month.
May 11, 2023
Budget done; Jones’ QAR response due within weeks
With the Federal Budget delivered, the Minister for Financial Services can deliver his proposals for financial advice to Cabinet for Government approval. The outcomes will be divided into three pillars depending on the simplicity of implementation through the political process.
May 11, 2023
Gender inequality: A systemic risk to the Australian economy
Corporate Australia needs to do more to recognise women’s contribution to the economic wellbeing of the country by setting effective gender targets to increase female participation in the workforce.
May 11, 2023
Federated Hermes appoints Asia Pacific distribution head
The head of Federated Hermes’ international client group, Jim Roland, has been promoted to the position of head of distribution for Asia Pacific.
May 11, 2023
Banned financial advisers exploiting legal loophole
ASIC has responded to questions about whether its powers go far enough given that an investigation has uncovered several banned financial advisers continuing to promote themselves online.
May 10, 2023
‘The hardest part of investing’: Embracing uncertainty as an opportunity
The most challenging part of investing is uncertainty. According to Platinum Asset Management head of investment Douglas Isles, those who want to invest need to embrace unpredictability and use it as an opportunity.
May 10, 2023
HUB24 expands relationship with Striver
Investment platform HUB24 will expand its relationship with advice networking/recruitment firm Striver to provide more educational resources to support the next generation of financial advisers.
May 10, 2023
Rest sells stake in Endeavour Energy
Profit-to-member superannuation fund Rest has agreed to sell its 12.6 per cent stake in Endeavour Energy to a fund managed by Macquarie Asset Management.
May 09, 2023
State Street launches global carbon asset servicing solution
State Street Corporation has launched the Carbon Asset Servicing Solution, which will allow asset managers, asset owners, and other financial services institutions around the world to integrate carbon-related assets into their portfolios as the demand for the asset class continues to grow.
May 09, 2023
