Industry Updates

Brighter Super lands enterprise agreement with staff

Brighter Super staff have voted in favour of an enterprise agreement that will see its employees benefit from salary increases, more super contributions, hybrid working arrangement and better base starting rate.  

TelstraSuper looks to merge with Equip Super

TelstraSuper and Equip Super have entered into a merger agreement after the former announced that it was looking for a merger partner in May.  

MLC Super to reduce admin fees for majority of members

MLC Super Fund has announced that administration fees will be greatly reduced for members in its superannuation and pension products. 

Future Fund restructures investment team

Australia’s $212 billion sovereign wealth fund, the Future Fund, has restructured its investment team which will be overseen by a six-person investment leadership group including five new managing directors reporting to chief investment officer Ben Samild.

Prime Value Asset Management nabs former industry fund CEO

Prime Value Asset Management has appointed former Prime Super chief executive Lachlan Baird as chief financial officer.

FAAA launches digital platform to match consumers with planners

The Financial Advice Association has launched an upgraded 'Find a Planner' tool to help its members connect with potential clients and grow their businesses.

MLC Life appoints two executives

MLC Life Insurance has appointed Gerard Kerr as chief executive of individual business and Jane McGovern as its chief customer and strategy officer.

ASIC calls out product issuers on DDO compliance

ASIC has called out product issuers to ensure Design and Distribution Obligations practices are up to scratch, pointing to flawed consumer questionnaires being the catalyst for some recent interim stop orders.

Hostplus launches digital education tools

Industry super fund Hostplus has launched a digital education tool, SuperSmart, in collaboration with super fund licensee and advice services providers, Industry Fund Services, and Iress.  

ASIC wins 95pc of prosecutions in first half of 2024

ASIC has had a success rate of 95 per cent in its civil and criminal prosecutions conducted in the first half of 2024 calendar year, securing $32.2 million in civil penalties and nine criminal convictions.  

AMP BOLR settlement upheld

AMP’s $100 million Buyer of Last Resort settlement has been upheld by the Federal Court.

August adviser exam sees 62 per cent pass rate

Some 62 per cent have passed the August sitting of the ASIC adviser exam, the lowest since the November 2022 sitting when 57 per cent passed.

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