Husband and wife banned from providing financial services
Married couple Richard and Gwenda Marshall have been banned from providing financial services for six and three years, respectively, for operating a financial services business without holding an AFSL licence.
November 10, 2022
SMSF Association remains opposed to super balances cap
The SMSF Association remains “resolutely opposed” to a cap on superannuation balances which has been proposed by Labor.
November 10, 2022
Outcome of AMP BOLR class action not expected until 2023
The outcome of the AMP Buyers of Last Resort class action suit is not expected until next year, an AMP spokesperson has confirmed to Professional Planner.
November 10, 2022
Perpetual rejects revised takeover proposal from BPEA and Regal
Perpetual has received another non-binding proposal from BPEA Private Equity and Regal Partners which it has rejected.
November 10, 2022
AMP ASTRUM Award winners announced
AMP kicked off its national conference in the Gold Coast last night with a dinner presenting the ASTRUM Awards, recognising practices and advisers in the network.
November 10, 2022
Major banks see rising profits despite tough economic outlook
The major banks reported a combined cash profit after tax of $28.5 billion, a 7.2 per cent increase from FY21 despite inflation and rising interest rates creating pressure on consumers.
November 10, 2022
iExtend appoints Senior Risk Manager
iExtend has appointed Lindsay Stark as a senior risk manager, who will provide support and expert guidance on the growing number of individual qualifying policies to be co-owned by iExtend.
November 10, 2022
ASIC places interim stop order on offers from Finnia
ASIC has placed an interim stop order on offers from Finnia Income in response to deficiencies in the issuer’s target market determination (TMD).
November 10, 2022
The coin flip odds of retirement confidence
Last year presented an anomaly where a much higher proportion of pre-retirees felt confident about their retirement propositions according to research from Investment Trends. Underperforming markets and high inflation this year have dampened expectations with only around half of this cohort confident about their post-work lives, in line with findings over the last decade.
November 10, 2022
LRBAs pose significant risks on SMSFs: Report
Research from the Council of Financial Regulators has further backed up its findings from three years ago that Limited Recourse Borrowing Arrangements in SMSFs could pose a significant risk to individual retirement savings.
November 09, 2022
CareSuper and Spirit Super exploring possibility of merging
Industry super funds CareSuper and Spirit Super have begun exploring the possibility of merging, but the projected combined pool will be below APRA’s preferred fund size.
November 09, 2022
HESTA, ReNu & Countrywide to develop green hydrogen
Health worker industry super fund HESTA has signed a term sheet with ReNu Energy and Countrywide Hydrogen to commit up to $100 million for the development of green hydrogen projects.
November 09, 2022
