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Market Wrap AM

AAP  |  WEDNESDAY, 18 FEB 2015
... and Greek borrowing costs soared after the hard-left government in Athens refused a demand by eurozone partners that it apply for an extension to its EU bailout. HONG KONG - Many equity markets were unfazed by the trouble in Europe as trade began to ...

Tsipras has a dream

BENJAMIN ONG  |  TUESDAY, 10 FEB 2015
... heard Darryll Kerrigan (The Castle), "Tell him, he's dreaming!" -- that's Tsipras not Tony, though on second thought, could apply to both. Tsipras is dreamin' if he thinks the troika would happily hand him a,-5 billion - reportedly what the government ...

Market Wrap AM

AAP  |  TUESDAY, 10 FEB 2015
... was down seven points at 5,753. In a rousing policy speech to parliament, Greek Prime Minister Alexis Tsipras refused to apply for an extension for an international bailout, raising the prospects that the country could quit the eurozone. In local economic ...

MDS Financial Group to purchase Sequoia Wealth Group

ALEX BURKE  |  THURSDAY, 5 FEB 2015
Back-office software provider and broker MDS Financial Group (MDS) has signed a non-binding term sheet to acquire specialist financial advice firm Sequoia Wealth Group (SWG), it announced today. This follows MDS's acquisition of SWG's minority shareholder ...

FEATURE: Understanding mFund

STAFF WRITER  |  WEDNESDAY, 4 FEB 2015
... still some confusion about what they actually are. The mFund Settlement Service (mFund) allows investors to electronically apply for and redeem units in certain unlisted simple managed investment schemes through their authorised ASX broker in much the ...

Super tax subs worth $30bn in 2014

ALEX DUNNIN  |  TUESDAY, 3 FEB 2015
... refer to foregone taxation revenue associated with employer superannuation contributions and the concessional tax rates that apply to superannuation entities. Treasury estimates these cost the Commonwealth Budget $29.7 billion in 2014. Recognising the ...

AFA announces record enrolments for new curriculum

ALEX BURKE  |  THURSDAY, 15 JAN 2015
The Association of Financial Advisers (AFA) has announced record numbers of advisers applying for its masters-level Fellow Chartered Financial Practitioner (FChFP) designation. According to AFA chief executive Brad Fox, the FChFP curriculum has been ...

WAM Capital announces $100m share purchase plan

STAFF WRITER  |  MONDAY, 12 JAN 2015
... applications for SPP shares exceed $100 million, the board may allocate less than the number of shares applied for and determine to apply the scale back to the extent and in the manner that it sees fit.

Independent expert lists CBA compensation challenges

LAURA MILLAN  |  FRIDAY, 19 DEC 2014
Promontory Financial Group has acknowledged that the Commonwealth Bank (CBA) program to compensate victims of bad financial advice poses a number of challenges. The independent expert has released its first report, following its appointment by CBA in ...

ASIC acts on 440 SMSF auditors

LAURA MILLAN  |  THURSDAY, 18 DEC 2014
... least meet base standards of competency and expertise." SMSF auditors who have had their registrations cancelled can re-apply for registration if they have passed the competency exam in no more than two attempts over the preceding 12 months.