Financial Standard

ASIC stalls Sequoia bid to ditch cross guarantee deed

KARREN VERGARA   ASIC is again putting up roadblocks to Sequoia Financial Group's attempt to revoke the deed of cross guarantee with InterPrac Financial Planning, asking more questions and requesting more information before the group rids itself of all liabilities arising from the Shield and First Guardian disaster.

Praemium's new leadership toughens earnings yardstick

RIDDHIMA TALWANI   Praemium's new leadership will be keeping a close eye on costs, with new chief executive Denis Orrock noting he will make sure the technology upgrade underway translates into stronger earnings and better returns for shareholders.

Channel Capital wins distribution mandate

MATTHEW WAI  |    11:58AM   Channel Capital has been appointed by Coller EQT to distribute, promote and service investor support to the two secondaries strategies currently available in Australia.

Acenda Life launches investment bond

VINNY VUCAGO  |    11:56AM   Acenda Life has launched an Investment Growth Bond and enhanced its Fixed Term Annuity, broadening its investment offering.

TPD claims drive insurance disputes

VINNY VUCAGO   Australia's life insurers continue to accept most claims, but total and permanent disability (TPD) and disability income insurance claims remain the main sources of disputes and delays, according to the latest data from APRA and ASIC.

Genetic testing ban takes effect for life insurance

VINNY VUCAGO   Australians can access genetic testing without risking discrimination in life insurance under a new ban that took effect on October 8, with the Australian Financial Complaints Authority (AFCA) also updating its rules to handle complaints involving adverse genetic test results.

Australia's retirement system receives first A-grade

KARREN VERGARA  |    11:59AM   Australia's retirement system has finally received an A-grade rating in the annual Marsh CFA Institute Global Pension Index after stagnating at the B+ level for the last five years.

AMP Super launches new app

VINNY VUCAGO   AMP Super has launched a new app aimed at helping members better understand their retirement position, plan for the future and manage income.

Affordable housing eligibility routinely overlooked: CEDA

KARREN VERGARA  |    12:16PM   New research shows Australia is not targeting its affordable housing stock correctly, leaving about 19,000 families on social housing waitlists that truly need and are entitled to it.

Executives prioritise protecting capital, managing macroeconomic volatility: MSCI

KARREN VERGARA  |    12:03PM   Protecting access to capital and absorbing macroeconomic volatility are top of mind for the executives of publicly listed companies amid ongoing uncertainty and rapidly changing capital markets, a new survey shows.

ASIC investigates potential $138m scam

ELIZA BAVIN  |    12:05PM   ASIC has confirmed it is actively investigating potential failures linked to MGF Capital, and its sole director - a former Goldman Sachs trader - over concerns at least $138 million of Australian investor funds have been lost.

Adviser stripped of AFSL he claimed he didn't hold

MATTHEW WAI  |    11:37AM   ASIC has ceased the Australian financial services licence of a New South Wales financial adviser after he failed to comply with licensee obligations, including payment to statutory levies.

Tribeca Financial promote four new equity partners

VINNY VUCAGO   Tribeca Financial has promoted four senior advisers to its equity partnership, recognising their contributions to the advice firm's client relationships, technical capabilities and culture as it continues to grow.

AFSL specialist snags Entireti head of advice risk

MATTHEW WAI   Self-licensing firm My Dealer Services (MDS) has welcomed a senior risk and compliance director, as it continues to expand self-licencing initiatives while restructuring roles within the business.

Brighter Super changes up investment, insurance fees

KARREN VERGARA  |    12:00PM   Not-for-profit fund Brighter Super has introduced numerous changes to its fees, decreasing investment fees while increasing insurance costs.

CareSuper rejigs beneficiary nominations, investment options

KARREN VERGARA   CareSuper has introduced several changes to its investment options and beneficiary nominations.

Advice firms lacking AI integration: Iress

VINNY VUCAGO   Artificial intelligence (AI) is delivering productivity gains across financial advice, but only 7% of practices have embedded the technology across most of their workflows, research from Iress has found.

Finura brings AI engineering in house with merger

MATTHEW WAI   Finura Group has merged with a software engineering business to bring artificial intelligence agent technology and sovereign cloud services in house.

Australia's family offices surpass $323bn in assets

RIDDHIMA TALWANI   Family offices in Australia have surpassed $323 billion in assets, according to data from Rainmaker Information.

Mining, property fuel Aussie billionaires' wealth

KARREN VERGARA   Australian billionaires' riches are highly concentrated in mining, financial services, technology and property, accounting for 0.7% of the total US$15.1 trillion in global wealth studied by the 2026 Billionaire Census.