ASIC ramps up surveillance of advisers
The Australian Securities and Investments Commission will continue ramping up its surveillance of hedge funds and financial advisers, while working closer with international regulatory agencies to “more broadly identify persons of interest and risks to Australia’s financial markets”. In a market update on its investigations into the collapse of hedge fund manager, Trio Capital, the
October 29, 2013
ASIC works the web
Financial planning firm, Centric Wealth, has commended the Australian Securities and Investment Commission’s crackdown on false advertising from insurance websites. Centric Wealth’s joint head of group risk and corporate benefits, Roy Agranat, said the online insurance industry had mushroomed with the development of new technology, however many consumers were unaware of the products they were
October 29, 2013
CDPP wins appeal against Lawson Stuart Donald
The Commonwealth Director of Public Prosecution (DPP) has won its appeal against a former private client adviser, with the New South Wales Court of Criminal Appeal sentencing Lawson Stuart Donald to one year in prison for the misappropriation of $1.7 million of client monies. The former Bell Potter Securities adviser from Maroubra, New South Wales,
October 25, 2013
PM Capital: move money offshore
Funds manager PM Capital has sold out of its entire position in Australian banks and urged retail investors to move their money offshore. According to PM Capital founder and chief investment officer Paul Moore, Australian investors are in the middle of a “very long bear market” and should take advantage of the strong Australian dollar
October 25, 2013
B2B retirement web service launched
Research house Lonsec and actuarial consulting firm Milliman have assembled a panel of experts to write regular investment articles for subscribers to their new retirement website. Subscribers to the new Lonsec Retire web service will have access to thought leadership on a variety of topics relevant to constructing portfolios in retirement written by BT Investment
October 25, 2013
SMSF investment strategies
What trustees need to know about setting up a SMSF Trustees of self-managed super funds (SMSFs) are responsible for developing and implementing the strategy for investing their funds’ assets. That doesn’t mean they need to become an investment expert: they can pay people to advise them and can even use investment products, such as managed
October 25, 2013
Who is the head of AMP Capital’s SMSF business?
AMP Capital, the funds management arm of AMP, is building a new business unit to service the lucrative self-managed superannuation fund market. It has appointed former head of National Australia Bank online trading, Tim Keegan, to the newly created position of head of SMSF. Keegan oversaw the development of NAB’s online trading business nabtrade, which
October 24, 2013
Aged-care system changes add to complexity
Private equity-backed financial planning firm Centric Wealth has warned that sweeping changes to the aged-care system will add further complexity for elderly Australians and their families, but create opportunities for financial advisers. The recently legislated aged-care reforms will introduce new carer and pension entitlement rules from July 1, 2014, and make it impossible for some
October 24, 2013
