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Unlicensed financial adviser banned

JAMIE WILLIAMSON  |  TUESDAY, 18 SEP 2018
ASIC has permanently banned an unlicensed financial adviser found guilty of aiding and abetting a financial services firm that was also unlicensed. Following more than six years of work by the regulator, former Investment Intelligence Corporation director ...

Contrarian manager enters super sector

DARREN SNYDER  |  MONDAY, 17 SEP 2018
... offering self-directed investors and financial advisers an ability to invest superannuation and retirement funds across a bank-free investment menu of about 60 managed funds with a prominent focus on fee transparency. Allan Gray Australia chief operating ...

Dealer groups lift due diligence post Dover

JAMIE WILLIAMSON  |  MONDAY, 17 SEP 2018
... abstract of a story first published in the latest print issue of Financial Standard. You can view the full article on our free iPad app.

ASIC marks AFCA milestone

KARREN VERGARA  |  THURSDAY, 13 SEP 2018
... said. AFCA chair Helen Coonan welcomed ASIC's approval. "AFCA will provide consumers and small business with access to fair, free and independent complaint resolution," Coonan said. "We look forward to working with ASIC, and consumer, small business ...

Freedom sold life insurance to intellectually disabled man: Royal Commission

HARRISON WORLEY  |  WEDNESDAY, 12 SEP 2018
Freedom Insurance sold life insurance to an intellectually disabled man, and only cancelled the policy after several instances of correspondence with his family, the Royal Commission heard yesterday. Giving testimony at the second day of life insurance ...

Chief economist update: Japan's sun shines

BENJAMIN ONG  |  TUESDAY, 11 SEP 2018
... President Donald Trump renewed pressure on Japan to sign a bilateral trade deal, Prime Minister Shinzo Abe pledged to champion free trade." "Tit-for-tat trade sanctions don't benefit any country," Abe told a gathering of lawmakers from the ruling ...

Industry funds launch account matching initiative

KARREN VERGARA  |  MONDAY, 10 SEP 2018
... cross-fund matching initiative will see 18 industry funds consolidate 500,000 low balance, inactive accounts. The service is free of charge to members and does not incur exit fees. Eligible inactive accounts with balances under $6000 will enter a collective ...

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
ASIC commenced Federal Court action against MLC Nominees and NULIS today in relation to the significant advice fees charged to superannuation members despite no financial advice being provided. ASIC alleges NULIS and MLC Nominees - the current and former ...

Life insurer undertakes strategic review

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
In the lead up to an appearance at the Royal Commission, an ASX-listed life insurer has announced it is undertaking a strategic review. Freedom Insurance Group said the decision to assess its options was spurred by the release of ASIC's review into ...

Gonski asks philanthropists to have more heart

DARREN SNYDER  |  THURSDAY, 6 SEP 2018
... enough money for them in it," Gonski said. For more articles like this, go to www.fsprivatewealth.com.au or subscribe to our free monthly newsletter, FS Private Wealth.