Industry Updates

Westpac results offer no update on Panorama sale

The much-anticipated next destination for BT Panorama will continue to remain a mystery with Westpac’s full year results offering no update on the sale of the platform business.

Members of the life insurance industry back a new peak body

Members of the Australian life insurance industry have backed the new peak body, the Council of Australian Life Insurers (CALI).

ISPT, HESTA & UniSuper co-invest into $600m UNSW Health Translation Hub

Property fund manager ISPT, super funds HESTA and UniSuper, and infrastructure investor and developer Plenary have partnered with the University of New South Wales (UNSW) to develop a $600 million Health Translation Hub (HTH) at Randwick’s health innovation precinct.

Apostle Funds Management appoints new partner

Apostle Funds Management (AFM) has appointed Luke Donovan as partner, global carbon markets.

The industry can’t have its cake and eat it too

The Quality of Advice review offers a wonderful opportunity to achieve a win for financial advisers and consumers alike, writes Robert MC Brown, but its proposals must not be implemented until the industry unambiguously embraces the highest ethical and professional standards.

New adviser registration requirement delayed

The government has postponed for six months a requirement for financial advisers to register with ASIC. The new registration requirement is separate to the existing requirement for an AFS licensee to appoint a financial adviser that they authorise to ASIC’s Financial Adviser Register.

‘Risky, speculative and poorly understood’: ASIC remains sceptical of crypto

ASIC remains unconvinced of the role cryptocurrency will play in financial services, believing it lacks intrinsic value and is too open to scams.

APRA places further licence conditions on Insignia super trustees

APRA has imposed additional licence conditions on several Insignia Financial superannuation trustees.

Rehabilitation that focuses on people ‘getting back to life’

Misfortune can strike at any time which is why advised life insurance has become essential for so many Australians. The right protection can make a substantial difference in quality of life and rehabilitation from tragic circumstances.

Jones offers no opposition to ASIC review

Financial services minister Stephen Jones has offered little opposition to the Senate inquiry into ASIC enforcement and intends to work with the opposition to make sure the review does not overlap with the regulator’s other oversight bodies.

Perpetual knocks back surprise proposal amid on-going Pendal deal

Perpetual has knocked back a non-binding acquisition proposal offer from Regal Partners and BPEA EQT Fund.

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