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Call for entries to the 2014 Smileys Social Media Scholarship program

STAFF WRITER  |  WEDNESDAY, 10 SEP 2014

SEC adviser exams could cost US$310m

ALEX DUNNIN  |  MONDAY, 8 SEP 2014
... re-gathering momentum and could be presented to the House in the coming months. The subtlety is that the user-pay fees would apply to firms managing more than US$100 million which are registered directly with the Securities and Exchange Commission (SEC). ...

NAB launches online direct insurance product

STAFF WRITER  |  FRIDAY, 5 SEP 2014
National Australia Bank (NAB) has launched a life insurance product that consumers can apply for online. The NAB Essential Life protection can be applied for through a few simple steps and provides immediate cover to consumers. NAB retail wealth product ...

Bravura appoints new CFO

MARK SMITH  |  TUESDAY, 2 SEP 2014
Financial services software company Bravura Solutions has appointed a new chief financial officer. Martin Deda joins from Minter Ellison where he was chief operating officer and CFO. In his new role, he will also serve as an executive director. He replaces ...

Aligned licensees could be renamed "restricted advice" groups

LAURA MILLAN  |  WEDNESDAY, 27 AUG 2014
... sales." ASIC is also mulling re-examining the amount of activities caught under the current definition of general advice to apply "a more tailored regulatory regime to some types of 'general advice' rather than regulating all as a single class of activity." ...

SPAA defends SMSF tax rules

JAMES FERNYHOUGH  |  TUESDAY, 26 AUG 2014
... superannuation fund (SMSF) industry has downplayed concerns that it does not pay enough tax, arguing the same tax rules apply across the board. Responding to a front-page article in the Australian Financial Review today, SMSF Professionals' Association ...

Challenger adds firepower to annuities business

MARK SMITH  |  MONDAY, 25 AUG 2014
... "This year our sales are up 28% and they've been growing at around the 30% mark for a series of years," Benari said. "We apply a lot of capital against our annuities versus what a bank would put against a term deposit. As a consequence, as this business ...

ATO considers increasing Bitcoin control

LAURA MILLAN  |  FRIDAY, 22 AUG 2014
... transactions. The ATO has released guidance of the tax ramifications of crypto-currencies and how various parts of the tax law apply to the likes of Bitcoin. It also refers to draft ATO rulings which are likely to attract comment from investors interested ...

Mercer reveals confronting life expectancy research

MARK SMITH  |  TUESDAY, 19 AUG 2014
... the need for personal financial advice. "We know half of all public sector workers - which can fairly be extrapolated to apply to Australia's nearly 8 million white collar workers - will live well beyond the average and we need to begin planning more ...

APRA releases additional requirements for large instos

LAURA MILLAN  |  FRIDAY, 15 AUG 2014
... management, risk management and capital adequacy for Australia's largest financial institutions. The new conditions would apply to AMP, ANZ, Challenger, Commonwealth Bank, Macquarie Group, National Australia Bank, Suncorp and Westpac. APRA said it has ...