Industry Updates

Bennelong appoints new global CEO

Bennelong Funds Management has appointed John Burke as its new global CEO.

ETFs see positive flows in 2022 while managed funds struggle

The Australian ETF industry received $13.5 billion of net inflows, outdoing the Australian managed funds industry, according to data from ETF provider BetaShares.

TAL launches 2022 SpotChecker program, reiterating value of preventative skin safety

Life insurer TAL has launched the seventh annual iteration of its SpotChecker program to promote the importance of skin safety, preventative health screening, and early detection for overall health and well-being.

AAT upholds cancellation of Olive’s AFSL

Olive Financial Markets’ AFSL cancellation for misleading conduct involving prohibited hawking by cold-calling clients to rollover super funds into managed discretionary accounts has been upheld by the Administrative Appeals Tribunal, according to ASIC.

Justice Derrington to depart ALRC

Justice Sarah Derrington is leaving the Australian Law Reform Commission (ALRC) as its president and will be replaced by Justice Mark Moshinsky in the interim until a permanent replacement is confirmed.

Morningstar announces new Medalist Rating TM system

Morningstar Australasia plans to change the current analyst rating regime to the Morningstar Medalist Rating in the second quarter of 2023.

BlackRock appoints James Raby as APAC head of wealth

BlackRock has appointed James Raby as APAC head of wealth.

ASIC places interim stop order on Vasco fund

ASIC has placed an interim stop order on Vasco Responsible Entity Services, stopping it from offering or distributing the Pivotal Diversified Fund to retail investors.

New downsizer contribution rules commence

The eligibility age for people to make downsizer contributions to their superannuation has officially expanded to include those aged 55.

Diversa Trustees fined for Cruelty Free Super greenwashing

Diversa Trustees has paid a $13,320 fine for alleged greenwashing after ASIC issued an infringement notice.

Perpetual appoints deputy equities head

Fund manager Perpetual has appointed Anthony Aboud as deputy head of equities for Perpetual Asset Management Australia (PAMA).

FNZ and UBS Australia complete platform migration

Global wealth management platform FNZ has migrated UBS Australia onto post-trade processing engine SynOps.

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