ASIC bans former Avestra directors

Assistant treasurer Daniel Mulino took an aim at plans by the opposition to let Australians dip into their super early, stating weakening preservation would undermine intergenerational protections and hurt the most vulnerable.

ASIC has introduced new rules that will require managed investment schemes (MISs) to increase minimum financial thresholds in their net tangible assets (NTAs).

The Australian Prudential Regulation Authority's (APRA) new deputy chair David Bradbury said the risks that keep him awake at night are those with the potential to threaten the financial stability of the super system or cause catastrophic losses for members.

Former Merricks Capital chief operating officer has joined a specialised private credit firm after overseeing Merricks Capital's financial and operational businesses for the past six years.