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ASIC to foster fintech growth

DARREN SNYDER  |  FRIDAY, 31 JUL 2015
The Australian Securities and Investments Commission (ASIC) has established a Digital Finance Advisory Committee (DFAC) that will meet for the first time next month and advise the regulator on engagement with fintech businesses. DFAC forms one part ...

Super available on the Apple watch

DARREN SNYDER  |  TUESDAY, 21 JUL 2015
... themselves as the platform automates more of the processing. The full suite can be used in a modular capacity to change screens, apply branding requirements, amend content, provide responsive transactional services across a desktop, tablet or mobile ...

Super funds clash on board independence

DARREN SNYDER  |  FRIDAY, 26 JUN 2015
... need to reconstitute their boards as a result of these reforms, the government proposes a three year transition period will apply if the legislation is passed. An APRA-regulated super fund established after 1 July 2016 will have to adhere to the new ...

Industry super warns against uniform laws

AAP  |  FRIDAY, 26 JUN 2015
... minimum one-third independent directors on their trustee boards and an independent chair. The new governance rules would not apply to self-managed superannuation funds. Industry Super Australia says the changes are unnecessary and unjustified. It wants ...

Greens strike pension test deal with coalition

DARREN SNYDER  |  WEDNESDAY, 17 JUN 2015
A deal between the Coalition and the Greens means special consideration will be given to retirement incomes in the federal government's Tax Discussion Paper, and proposed changes to the pension asset test will be passed by parliament. The deal was struck ...

Macquarie refunds $5.5m after 13-year system errors

ALEX BURKE  |  WEDNESDAY, 17 JUN 2015
Macquarie Investment Management will refund $5.5 million to 2,300 clients after system errors between 2001 and 2014 led to miscalculated fees. The errors occurred in the Macquarie Wrap platform and included charging fees over the maximum amount in product ...

EY and UTS form financial data partnership

LAURA MILLAN  |  MONDAY, 15 JUN 2015
... facing the Australian financial services industry. The financial services analytics alliance will see both organisations apply their data analytics and research capabilities to areas such as cyber-crime, customer interaction and retention and risk. EY ...

Employers given October SuperStream deadline

DARREN SNYDER  |  WEDNESDAY, 10 JUN 2015
... Regulation Authority (APRA), RegistrableA Superannuation Entities (RSE) were told that after October 31, 2015, the ATO will apply "a more active compliance approach". Initially this compliance approach will focus on systemic issues affecting the implementation ...

Omega appoints head of investment solutions

ALEX BURKE  |  THURSDAY, 4 JUN 2015
... investing. "Myself and the founding partners at Omega look forward to his timely contribution in helping our clients to apply some additional intelligent thinking to their investment needs."

Super reforms to hurt retirees

ALEX BURKE  |  TUESDAY, 2 JUN 2015
... the problem. Dartnall, whose client-base is "very positive" about the "needed" changes, said that the Government should apply its small business concessions to retirees selling down their homes. "If we go back to when people could put $1 million into ...