Editor's Choice
T. Rowe Price appoints local operations chief
T. Rowe Price, the global asset manager with over US$1.3 trillion in assets under management, has appointed a regional operating chief who will relocate to Sydney from the London office.
Vanguard backs current performance test
Vanguard has endorsed the current performance test methodology in a submission to Treasury, championing its effectiveness in eliminating underperforming investment options and improving member outcomes.
Sequoia chair steps down
The chair of Sequoia Financial Group, John Larsen, has resigned from the position and his replacement has been appointed.
Court approves $16m DASS settlement
The Federal Court has approved the settlement reached in the $16 million class action brought against Dixon Advisory & Superannuation Services (DASS) following a two-week delay.
Further Reading
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Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
From someone with no dog in this race, I couldn't help notice another conflict of interest: adviser organisations shooting from the hip at the Code of Ethics in a desperate attempt to stay relevant. Of course, they suffer zero consequences from getting their criticisms wrong?unlike their misled, confused members who have to sit the exam. Remuneration under the Code is really not unclear. Read Standard 7 and the Royal Commission report: the Part 7.7A Div 4 ban on *adviser* Conflicted remuneration is preserved. Exceptions under the Act are exceptions under the Code. The Code however also prohibits the payments Commissioner Hayne had concern about, for recommending ones own products and recommending action when none was appropriate. All FASEA's latest Guidance does is explain how certain specific cases will be dealt with. Unfortunately the more guidance FASEA produces the more some parties with no interest in understanding it will try to hang FASEA with it.