Investment income fuels life insurance sector

The corporate regulator is calling on superannuation trustees to improve oversight of issues arising from member complaints, noting many are not doing enough to use complaints as early warning signs of broader issues.

Aware Super has moved to expand its retirement income offering through a partnership with annuity provider Challenger, as superannuation funds face growing pressure to help members turn accumulated savings into sustainable income.

North Korea has been accused of being the culprit behind the $9 billion (US$6.3bn) cryptocurrency heist from global digital asset platform Binance that took place last week.

ASIC is suing the directors of Falcon Capital, the responsible entity for the failed First Guardian Master Fund, alleging "serious and widespread failures" in their oversight.