Editor's Choice
ASIC cancels AFSL of Australian Fiduciaries
|ASIC has cancelled the Australian financial services licence (AFSL) of Queensland-based Australian Fiduciaries, which is currently in liquidation.
Treasury expects regulators to do the heavy lifting
|Treasury has released new Statements of Expectations for APRA and ASIC, with an emphasis on how the regulators should promote a more sustainable and secured financial ecosystem.
NGS Super names head of strategy
|NGS Super has appointed the former ASFA chair as head of strategy, as the fund aims to strengthen its retirement offering.
SS&C axes jobs, shifts roles offshore
|US software services giant SS&C Technologies has slashed 170 Australian roles in the operations, technology and delivery teams.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
PWC by way of their comments have demonstrated their total lack of professional understanding of SMSFs. I imagine PWC receives sizeable audit remuneration from APRA regulated funds so one could be forgiven for thinking that their comments have a hidden agenda. Who in PWC actually made these comments to the FSI??
As far as I am aware the ATO is responsible for monitoring SMSF activity - not ASIC. As an Auditor of many SMSF accounts, there already is a requirement for an Investment Strategy - what value in ASIC monitoring a document when they dont really know the risk profile and long term expectations of fund members is? Would PwC like to comment on how these funds who were over exposed to, cash and term deposits fared in the recent GFC compared to the "industry and public offer Funds" managed by investment experts?? I guess as an auditor of large Financial Institutions who are a large part of the current superannution industry, that PwC would ike to see those institutions grow at the expense of an SMSF industry. Haven't we already got too much interference in our lives without more regulators wasting time and resources - after all the money belongs to the member/trustees of these Funds to do with as they see fit.
I claim that many SMSF who invested in cash throughout the GFC have performed better than number of professionally managed funds during the last 5 years. Retirees with large balances over $500,000 acted prudently by not to risking all of their funds in stock or real estate markets. Those under such levels can and do knowing well that they can make up the difference from the Centrelink if they lose. To PwC, prudent investment clearly means risking funds in stock markets alone w/o consideration to their fund size, risk profiles of individuals and stage of retirement.