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No systemic risk with SVB, but issues remain: Experts

CASSANDRA BALDINI  |  WEDNESDAY, 15 MAR 2023
The failure of Silicon Valley Bank (SVB) doesn't point to a systemic issue, however the banking crisis in the US may be far from over, experts say. The failure of SVB was mainly due to an asset-liability mismatch, which resulted in material losses ...

CareSuper changes TPD definition, extends cover

ANDREW MCKEAN  |  TUESDAY, 14 MAR 2023
... only. Members can choose to have their cover amount based on their age, with options ranging from 25% to 200% of the standard cover amount.

Women take the lead in private wealth: KPMG

CHLOE WALKER  |  TUESDAY, 14 MAR 2023
... offices, according to KPMG head of family and private wealth Robyn Langsford. In an exclusive interview with Financial Standard, Langsford said that as women are becoming more likely to inherit family wealth, so too their chances of leading family offices ...

CALI hires policy director from FPA

KARREN VERGARA  |  TUESDAY, 14 MAR 2023
The Council of Australian Life Insurers has welcomed the former policy head of the Financial Planning Association of Australia to its leadership ranks. Ben Marshan will join CALI on March 27 as director of policy and industry affairs, following an announcement ...

abrdn loses global chief economist

JAMIE WILLIAMSON  |  MONDAY, 13 MAR 2023
... 2018, he took on the additional responsibility of leading the group's research institute. In a statement to Financial Standard, abrdn said Lawson's decision was due to personal circumstances. Prior to joining abrdn, Lawson was based in New York as a ...

APRA preserves life insurance prudential standards

KARREN VERGARA  |  FRIDAY, 10 MAR 2023
... consultation period. The prudential regulator flagged it was relatively satisfied with four prudential standards - Prudential Standard LPS 100 Solvency Standard; Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge; Prudential Standard ...

FPA voices concern on proposed CSLR, FAR laws

ANDREW MCKEAN  |  FRIDAY, 10 MAR 2023
... increased costs all businesses are facing in the current high inflation environment." As previously reported by Financial Standard, the FAR and CSLR were recently introduced to Parliament by assistant treasurer Stephen Jones. The updated FAR legislation ...

Investment bonds offer refuge amid super changes

ANDREW MCKEAN  |  WEDNESDAY, 8 MAR 2023
... important; it also needs to come into the context of the broader economy," he added. As previously reported on by Financial Standard, the government released a draft objective for superannuation, to preserve savings and deliver income for a dignified ...

FPA policy and advocacy lead steps down

KARREN VERGARA  |  WEDNESDAY, 8 MAR 2023
The Financial Planning Association of Australia's general manager of policy and advocacy will step down after seven years with the organisation. Ben Marshan joined the FPA in 2015 as a manager for professional standards and advocacy and moved into several ...

In need of repair: Gender stereotypes and advice

KARREN VERGARA  |  TUESDAY, 7 MAR 2023
... and 10% on reason and logic. Women tend to be more emotional when it comes to finances, according to a recent study by Standard Life, after canvassing 6000 people in the UK. Over the last two years, women reported a significant decline in their positive ...