Financial Standard

Capstone drops jailed adviser

KARREN VERGARA   Capstone Financial Planning has revoked the authorisation of Mark Babbage, the Victorian financial adviser jailed for breaching Western Australia's strict border restrictions to attend the AFL Grand Final.

Industry mixed over FSC advice framework

ANNABELLE DICKSON   The financial advice industry welcomes the Financial Services Council (FSC) recommendations to help reduce red tape and make financial advice more affordable, but one dealer group is unsure whether the FSC is trustworthy - particularly for risk advisers.

Global pension fund backs Aussie renewables

JAMIE WILLIAMSON   The infrastructure business of a major Canadian pension fund has acquired 49% of a local renewable energy platform.

Talaria lists strategies on Chi-X

KARREN VERGARA   Talaria Asset Management will launch two of its products on the Chi-X as actively managed exchange-traded funds.

FSC to ban occupational exclusions

ANNABELLE DICKSON   The Financial Services Council (FSC) is introducing an enforceable standard that will prohibit the use of exclusions and restrictive disability definitions in default group life insurance for those who are in high-risk occupations.

MetLife enhances mental health policy

KARREN VERGARA   MetLife Australia unveiled a mental health strategy for its employees in light of Mental Health Month.

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.

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.

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.

ASIC calls for stronger whistleblowing policies

ANNABELLE DICKSON   The corporate regulator has written to the chief executives of large public companies, large private companies and the trustees of superannuation funds to ensure their whistleblowing policies are compliant.

CBA completes review, sued by FWO

ANNABELLE DICKSON   Commonwealth Bank finalised its three-year action plan by implementing recommendations from a prudential inquiry to improve its governance and culture. At the same time, it has been slammed with court proceedings for underpaying staff over $16 million.

Ellerston investments chief takes board role

JAMIE WILLIAMSON   The chief investment officer of Ellerston Capital has been appointed a director of a $40 billion superannuation manager.

UBS names country head from BlackRock

ANNABELLE DICKSON   UBS Asset Management appointed BlackRock's chief operating officer as country head for Australia and New Zealand.

ASIC eyes employee super fund choice

KARREN VERGARA   ASIC issued a stern warning to employers and their superannuation fund provider about influencing employees' choice of super funds.

Industry slams Future Fund disclosure exemption

JAMIE WILLIAMSON   The super industry is calling for mandated consistency on portfolio holdings disclosure after it was recommended the Future Fund be exempt from disclosing commercially sensitive information.

HUB24 to acquire Class

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

Active Super revamps digital experience

JAMIE WILLIAMSON   Active Super has launched a new multi-channel member experience in partnership with Link Group, including a mobile app and revitalised online offering.

Cannon-Brookes takes stake in fund manager

JAMIE WILLIAMSON   The Atlassian co-founder has taken an equity stake in a local impact investment firm.

Family office makes crypto play

ELIZABETH MCARTHUR   The Smorgon family office has taken a stake in a cryptocurrency investment platform.