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Major super funds caught in fraud scandalBY ELIZA BAVIN, JAMIE WILLIAMSON | WEDNESDAY, 18 SEP 2019 12:34PM
Several of Australia's largest superannuation funds were targeted by an online fraud syndicate which siphoned millions from share-trading and super accounts.
Read more: AustralianSuper, Commsec, HESTA, ASIC, Club Plus, Hostplus, LUCRF Super, Australian Federal Police, CMC Markets, Financial Standard, IG Markets, Australian Administrative Services, Chris Deakin, Chris Goldsmid, Link Group
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A former financial adviser and licensee director has been sentenced to six years' imprisonment for misappropriating close to $2 million for his own use.
Pinnacle Investment Management's 16 affiliates tallied up only $3 billion in net inflows in FY20 as institutional allocators deferred mandate decisions in COVID-19 but the firm managed to grow NPAT by 5.6% to $32.2 million.
ASX-listed trading platform SelfWealth has renewed its clearing, settlement and execution (CS&E) mandate with retail broker OpenMarkets, in a move that it says demonstrates the two fintech's shared objective of disrupting the status quo.
The self-managed super fund administration and software provider has appointed two new technology leads, set to help Class continue to grow and innovate.
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