ASIC needs tougher, direct powers: TaskforceBY KARREN VERGARA | THURSDAY, 9 NOV 2017 12:38PMASIC should be given tougher intervention powers to direct how an Australian financial services licensee addresses or prevents compliance failures. Related News |
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Yarra Capital acquired by Canadian asset manager
Canadian asset manager RBC Global Asset Management (RBC GAM) has acquired Australian active fund manager Yarra Capital Management, which specialises in fixed income, equities and alternatives.
Private credit under fire again, widespread failings persist
Private credit funds continue to lag in improving poor disclosure, distribution and conflict-management practices since ASIC handed down its scathing inaugural report into the opaque sector 12 months ago.
MLC Expand taps private equity owner's US network on AI
MLC Expand's new private equity owner is helping the platform leverage its US network to fast-track its AI capabilities, chief executive Liz McCarthy said.
ETF Shares launches data centre ETF
ETF Shares has listed a new exchange traded fund (ETF) dedicated to data centre infrastructure, giving investors exposure to companies supporting the physical expansion of artificial intelligence (AI).
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Jacqueline Fernley
CHIEF EXECUTIVE OFFICER
ARC POINT OCIO PTY LTD
ARC POINT OCIO PTY LTD
Jacqueline Fernley is a self-confessed nerd, a market animal and as of this year, her own boss. Riddhima Talwani writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
We have spent the last 12 months designing a professional indemnity policy for AFSL holders.During our market research and discussions with ASIC, we have identified more than 1000 companies who are not licensed who should be licensed, and that number is growing daily. As well many of the companies registered are underinsured re PI insurance, and literally don't care because in their words: "who checks and it's too expensive anyway".