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 a former ASFA committe member 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.
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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.
Whiteley and his cohorts do not actually run a financial planning practice and don't even talk to clients directly. They are therefore totally unqualified to pass judgement on regulations which affect real Professional Financial Planners.
What this so called legal advice does not mention is that the proposed seventh part of Best Interest is open for testing in the courts due to its ambiguities and therefore firms such as Arnold Bloch Liebler have a vested interest in keeping this in the regulations to generate future business for themselves.
How is it that a member of the Liberal Party (one with no experience in the Fin Services Industry) is defending the 40 or so Industry Funds which were presumably set up to provide income streams for Unionists and ex Labor politicians in their roles as Fund Trustees/Directors, etc., and for the political purpose of using members funds for running down the high quality advisory industry in Australia, influencing share holders meetings, and influencing Funds Managers (those who accept Industry Funds money). Presumably the Hon Peter Collins is being paid very big bucks as chairman of ISA!
FOFA in turn was set up to continue the onslaught against the advisory industry, arguably the very best in the World and one which does infinitely more than simply hard sell an inferior investment product such as Industry Funds. Ignore this noise, Senator Sinodinos and get on with your job.
Also make sure that the proposed Royal commission closely examines any possible corruption in Industry Funds. Separately APRA should be checking to see whether Industry Funds meet the sole purpose test.