Financial Standard

Better Advice Bill gets green light

KARREN VERGARA   The landmark Better Advice Bill, which introduces a new disciplinary body, passed the senate overnight.

Advisers closer to professionalisation: FASEA

KARREN VERGARA   The Financial Adviser Standards and Ethics Authority said the advice industry is closer to reaching the professional status it is striving to achieve.

Macquarie AM acquires alternative investment group

ELIZABETH MCARTHUR   Macquarie Asset Management has acquired an independent investment advisory firm delivering private client access to institutional hedge fund, private equity, real estate, and funds-of-funds.

Pinnacle backs investment platform

ELIZABETH MCARTHUR   Pinnacle Investment Management has made a $3 million cornerstone investment in OpenInvest.

MLC Life wins group mandate

JAMIE WILLIAMSON   MLC Life has been handed a new group insurance mandate from a retail superannuation provider.

Christian Super enhances insurance offering

JAMIE WILLIAMSON   Christian Super is reducing insurance premiums for most of its members, saying the offering now better aligns with what is available at other super funds.

CountPlus to acquire Challenger SMSF business

ANNABELLE DICKSON   The ASX-listed advice and accounting group is expanding its SMSF offering after finalising terms to acquire Accurium from Challenger.

SMSFs welcome RIC exemption

KARREN VERGARA   The federal government sparing self-managed superannuation funds from the looming Retirement Income Covenant legislation has been welcomed by the sector.

Economic recap: Week to October 15

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

Economic recap: Week to October 8

BENJAMIN ONG   Combine economic stagnation and rising inflation and what do we get? We get stagflation -- the financial markets' fear du'jour.

Fed to ban policymakers stock, bond trading

JAMIE WILLIAMSON   The Federal Reserve is restricting the investing activities of policymakers and senior staff, including banning them from holding or trading individual stocks and bonds.

CFS fined $20m over super misconduct

JAMIE WILLIAMSON   Colonial First State will pay $20 million for misleading members in its FirstChoice Fund.

Sally Loane resigns as FSC chief

JAMIE WILLIAMSON   The Financial Services Council has announced that Sally Loane will step down as chief executive at the end of the year.

U Ethical hires fixed income PM

ANNABELLE DICKSON   The ethical investment firm is expanding its investment team with the appointment of a fixed income and cash portfolio manager.

HESTA pushes for net zero legislation

KARREN VERGARA   The federal government's refusal to commit to net zero by 2050 will lead to Australia losing a massive amount of green foreign investment, superannuation fund HESTA warned.

Rest firms up net zero pathway

ELIZABETH MCARTHUR   Industry fund Rest has released its roadmap to net zero and scenario analysis on the impact of climate change on investment returns.

Crypto regulation proposed: Bragg

ANNABELLE DICKSON   A Senate committee is proposing a regulatory framework for digital assets and crypto-asset businesses to protect consumers, promote investment in Australia and deliver competition, but the industry has concerns.

HUB24 to acquire Class

JAMIE WILLIAMSON   SMSF technology provider Class has agreed to be acquired by HUB24 via a scheme of arrangement.

Family offices back Regal resources fund

ELIZABETH MCARTHUR   A small group of family offices have backed a new long/short resources fund from Regal Funds Management to the tune of $90 million.

What family offices want: Report

ELIZABETH MCARTHUR   KPMG Australia and The Table Club have produced a new report revealing how much growth family offices expect from investments and what they want from investment managers.