Financial Standard

ASIC prepares advisers for DDO

KARREN VERGARA   ASIC is urging financial advisers to be well prepared for the new Design and Distribution Obligations regime, warning that there should be no surprises when it kicks into gear on October 5.

William Buck merges with sixth firm

KARREN VERGARA   A Melbourne-based advisory firm has merged with William Buck as the latter continues its aggressive expansion strategy.

Maple-Brown Abbott launches new fund

ELIZABETH MCARTHUR   Boutique investment manager Maple-Brown Abbott has launched an Asian equities dividend growth fund.

EQT Group dumps Iress bid

ANNABELLE DICKSON   The European private equity firm has abandoned its plans to acquire Iress with both parties unable to agree to a transaction.

Statewide Super increases premiums

ELIZABETH MCARTHUR   The $12 billion industry fund is upping insurance premiums from November.

CFS reduces premiums

ELIZABETH MCARTHUR   Colonial First State is reducing insurance premiums in its super funds, in a move that should benefit 220,000 members.

Auditor referral threshold test troubling: SMSFA

ANNABELLE DICKSON   The SMSF Association is concerned that the introduction of a 20% threshold for auditor referral fees does not address at what point in time the threshold test must be considered or applied.

SMSF establishments soar

ANNABELLE DICKSON   The popularity of self-managed superannuation funds (SMSFs) is on the rise with increased establishments and fewer wind ups in the year to June end, data from the ATO shows.

Recovery set to slow: OECD

ANNABELLE DICKSON   Australia has bounced back from the economic grips of the pandemic and suffered mildly compared to other countries, but the recovery will soon slow, according to the OECD.

Economic recap: Week to September 10

BENJAMIN ONG   Weekly review of significant economic data, government and central bank action and pronouncements, and other market moving events.

Former adviser banned after super theft

JAMIE WILLIAMSON   A former financial adviser that was sentenced to six years' prison in May has now been permanently banned by ASIC.

Criminal charges filed against CBA

ELIZABETH MCARTHUR   ASIC has brought 30 criminal charges against Commonwealth Bank for mis-selling consumer credit insurance, with the bank to plead guilty.

icare board appoints Willment

KARREN VERGARA   Mercer Australia chief investment officer Kylie Willment has joined the board of workplace insurer, icare.

Metrics hires three senior leads

KARREN VERGARA   Metrics Credit Partners made three senior appointments within its investments and corporate teams as it continues to grow and sharpen its focus on sustainability.

Super funds to front committee hearing

JAMIE WILLIAMSON   Aware Super, AustralianSuper and Hostplus are set to appear before the Standing Committee on Economics' inquiry into common ownership on Monday.

Former super fund chief defends tenure

JAMIE WILLIAMSON   The former chief executive of EISS Super has spoken out about his decision to depart the fund in the wake of media scrutiny and the fund's failure of the APRA performance test.

Managed accounts surpass $100bn

ANNABELLE DICKSON   The take up of managed accounts continues to grow with the industry growing $15.8 billion in the last six months to $111 billion, new research shows.

Aussie neobank partners with crypto exchange

ELIZABETH MCARTHUR   Neobank Volt has partnered with digital currency exchange BTC Markets.

UHNWs see net zero as business opportunity

ELIZABETH MCARTHUR   The super-rich are committed to addressing climate change, especially when there's a profit to be made in the process.

How wealthy families protect assets no matter what

ELIZABETH MCARTHUR   The wealthiest families in the world have mastered the art of asset protection through generations, even in the face of unpredictable and unprecedented events like the current pandemic.