Financial Standard

ASIC suspends Dixon Advisory AFSL

ELIZABETH MCARTHUR   ASIC has suspended the Australian financial services licence of embattled Dixon Advisory & Superannuation Services.

3000 advisers left industry last year

ELIZABETH MCARTHUR   More than 3000 financial advisers left the industry in the last 12 months, according to Rainmaker's most recent analysis of the ASIC Financial Adviser Register.

Principal Financial Group announces ESG index

CHLOE WALKER   The global financial company has partnered with the Centre for Economics and Business Research (Cebr) to launch the Global Financial Inclusion Index.

Hines enters Australian industrial sector

CHLOE WALKER   The global investment firm has purchased a portfolio of four logistics properties in Sydney and Brisbane for a combined $211.5 million from local fund manager Pipeclay Lawson.

APRA, ASIC publish life claims and disputes data

ANDREW MCKEAN   APRA and ASIC have released the latest Life Insurance Claims and Disputes Statistics publication that presents key industry-level claims and dispute outcomes.

TAL wins life company award for 2021

KARREN VERGARA   TAL has taken out the Association of Financial Advisers' 2021 Life Company of the Year Award for the fifth consecutive year.

SMSFA collaborates with APRA on rollover improvements

ANDREW MCKEAN   The SMSF sector has been plagued with delays when rolling over funds from APRA regulated funds to SMSFs, so the industry body is working with the regulator with the hope of improving processes.

New research backs diversified SMSF portfolios

CHLOE WALKER   New research conducted by the SMSF Association and the University of Adelaide confirms self-managed super funds (SMSFs) that have diversified investment portfolios outperform those that do not.

US stocks crumble after Jerome Powell's hawkish comments

ANDREW MCKEAN   From its daily peak, the SP500 index fell 2.61% after Federal Reserve chair Jerome Powell flagged aggressive rate hikes.

RBA eyes an early rate hike

ANDREW MCKEAN   Reserve Bank of Australia (RBA) minutes for April have strongly suggested that inflationary and wage growth developments have brought forward the likely timing of the first interest rate increase.

Six cases brought against Westpac now finalised

JAMIE WILLIAMSON   The six Federal Court cases brought against Westpac by ASIC late last year have been finalised, with the banking giant to pay a total of $113 million in penalties.

UK regulator introduces diversity rules for listed entities

JAMIE WILLIAMSON   The UK's Financial Conduct Authority has finalised its rules for listed companies when it comes to disclosure of diversity on boards and executive committees.

Wayne Swan joins AIST board

CHLOE WALKER   The AIST has announced the dual board appointment of the former federal treasurer and deputy prime minister alongside AustralianSuper executive Sarah Adams.

Pension fund pushes for independent chair at Berkshire Hathaway

JAMIE WILLIAMSON   One of the world's largest pension funds has indicated it will vote Warren Buffett out as chair of Berkshire Hathaway at the company's annual general meeting later this month.

Westpac giving away BT super business

ELIZABETH MCARTHUR   Westpac continues to seek to offload its BT superannuation business, with the bank now willing to transfer the business for no financial consideration.

Rest simplifies super splitting

ELIZABETH MCARTHUR   Industry fund Rest has adopted a new super splitting method, aimed at making the distribution of superannuation assets simpler for members.

Cyber attacks scare directors: WTW

ELIZABETH MCARTHUR   Company directors are understandably spooked by the threat of cyber attacks, extortion and ransomware, a survey has found.

WealthO2 rolls out rebrand

JAMIE WILLIAMSON   After merging with Roar and NEO earlier this year, the platform is now rebranding to DASH Technology Group.

More UHNWIs than ever: Report

CHLOE WALKER   The number of ultra-high-net-worth individuals worldwide climbed by almost 10% last year despite the ongoing pandemic, new Knight Frank research shows.

Coterie invests in wealth platform

KARREN VERGARA   Coterie Capital has invested in a wealth management platform that has grown to $10 billion in funds under administration.