Industry Updates

ASIC revokes DDO stop order on Neldner Road Vintners

An interim stop order placed by ASIC on Neldner Road Vintners in response to deficiencies in the issuers’ Target Market Determinations (TMD) has been revoked.

Martin Currie Ethical Income Fund wins Lonsec Sustainable Fund of the Year Award

The Martin Currie Ethical Income Fund (MCEIF) has won the Sustainable Fund of the Year Award for 2022.

legalsuper in search for new chief executive

The chief executive of legal community industry super fund legalsuper, Andrew Proebstl, will step down after nearly two decades in the role.

Conflicted remuneration: To be or not to be?

On the face of it, the Quality of Advice Review proposals on life insurance remuneration present a very big conflict of their own and it may lead to a showdown with Standard 3 of the Code of Ethics.

GSFM appoints Michael Angwin to its distribution team

Fund manager GSFM has appointed Michael Angwin to a newly created consultant and wholesale distribution role.

Over half of UK workers still unsure about retirement

Often cited as being five years ahead of the Australian advice landscape, over half of working age adults in the UK do not have a plan for their finances in retirement according to research.

Ponzi scheme director pleads guilty

Former Courtenay House director Tony Iervasi has pleaded guilty to five criminal charges regarding operation of a $180 million Ponzi scheme.

State Street reappointed by Rest to provide custodial services

State Street Corporation has been reappointed by industry fund for retail workers, Rest, to provide custodial services.

Magellan co-founder Douglass offloads some of his company holdings

Magellan's Hamish Douglass has notified the fund manager that he has sold approximately 13 million ordinary shares on Monday evening at a price of $9.10 per share.

Capital Group appoints new fixed income business development head

Capital Group has appointed Scott Steele as head of fixed income business development for Europe and Asia.

‘Perfect storm’: Interest rate rises hit poorly diversified SMSFs

Lack of diversification in SMSFs make up much of the poor advice bucket in AFCA decisions and this year’s rate rises are only going to add further pressure on poorly diversified funds.

Kaplan Professional and BlackRock launch industry-first ETF short course

Kaplan Professional and BlackRock have launched an industry-first ETF short course.

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