Financial Standard

Spender criticises Labor's 'lack of urgency' on advice reforms

ELIZA BAVIN   Independent member for Wentworth Allegra Spender said declining adviser numbers is a fundamental issue that needs an "urgent fix", while the CSLR is a "textbook case of moral hazard."

Shield Master Fund terminated, new receivers for Keystone Asset Management

KARREN VERGARA   The Shield Master Fund (SMF) has been terminated while its responsible entity Keystone Asset Management (KAM) has been appointed a new receiver and administrator.

Mantis to distribute new micro cap offering

JAMIE WILLIAMSON   Mantis Funds has secured a distribution deal with Balmoral Investors, taking its micro cap strategy to market.

AMP super and investments business see more outflows

ELIZA BAVIN   AMP's superannuation and investments business saw more than $100 million net cash outflows in Q1, but still a significant reduction from $371 million in Q124.

DII drives life insurance disputes: APRA

KARREN VERGARA   Disability income insurance (DII) continues to be a bugbear for the life insurance industry and is the most highly disputed product among advised, non-advised and group insurance customers, APRA statistics show.

Life insurers keep breaking their own rules: Report

ANDREW MCKEAN   Breaches of the Life Insurance Code of Practice (the Code) increased for a fourth consecutive year, with life insurers reporting 14,670 instances of non-compliance, a 19% increase from the previous period.

Webull launches SMSF account offering

ANDREW MCKEAN   Webull Securities Australia has launched a self-managed superannuation fund (SMSF) account offering, targeting cost-conscious younger investors.

Court approves Caddick SMSF class action settlement

KARREN VERGARA   The Federal Court has approved the settlement amount of $3.54 million for Melissa Caddick victims who brought a class action against auditors that failed to detect fraudulent activities in their SMSFs.

RBA opens door to May rate cut

ELIZA BAVIN   In light of the market turmoil and risks to the global economy as a result of US President Donald Trump's tariffs, the RBA has signalled a May rate cut is on the cards.

Bullock hushes rate cut expectations

ELIZA BAVIN   Reserve Bank governor Michele Bullock has calmed market expectations for an interest rate cut in May as she comments on Trump's tariffs.

Falcon Capital, First Guardian fund to be wound up

MATTHEW WAI   Following the order to freeze the assets of the First Guardian Master Fund and its responsible entity Falcon Capital last month, the Federal Court has ordered both the fund and the entity to be wound up.

ASIC asks for input on reportable situations, IDR dashboards

JAMIE WILLIAMSON   The corporate regulator plans to introduce two interactive dashboards that would track firm-level reportable situations and internal dispute resolution (IDR) data to push financial firms to lift their game.

Analyst promotions: TCorp, Future Fund, CareSuper, Fidante, First Sentier

ELIZABETH FRY   This week saw staff moves in NSW government's investment and financial management partner, Future Fund, and CareSuper.

East Coast recruits operating chief

ELIZABETH FRY   A second C-suite executive landed at the Sydney-based systematic fund manager this year.

Div 296 must proceed to strengthen 'fairness' in superannuation: ASFA

MATTHEW WAI   Ahead of the federal election, the Association of Superannuation Funds of Australia (ASFA) has urged all contesting parties to consider its recommendations to "protect and strengthen" the super sector.

New government must prioritise payday super: SMC

KARREN VERGARA   Super Members Council (SMC) is urging Australia's newly elected government to pass the payday super legislation as a matter of priority within its first 100 days in power.

Data centres 'major growth sector' for Australia: Report

MATTHEW WAI   Australia is only second to the US as a top data centre investment location having deployed $6.7 billion in capital in 2024, according to a new report from Knight Frank.

Perpetual to build digital wholesale term deposit marketplace

JAMIE WILLIAMSON   Perpetual Corporate Trust will begin operating a digital marketplace offering debt instruments, kicking off with wholesale term deposits.

Collectables market reaches $17bn: Report

KARREN VERGARA   Australia's booming collectables market has reached $16.8 billion, a new study from eBay Australia shows.

Modern family offices want values aligned, pioneer companies

KARREN VERGARA   Family offices of today are aligning their values and principles across all generations to back pioneer companies that will create deep impact and competitive returns, the recent Impact Investment Summit Asia Pacific heard.