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Showing 1431 - 1440 of 4757 results for "July 1"

Adviser banned for five years

ELIZA BAVIN  |  TUESDAY, 26 MAY 2020
A financial adviser who cycled through seven AFSLs in nine years has been banned after ASIC found he provided poor SMSF advice and based insurance advice on the commission he'd receive. The five-year ban follows ASIC surveillance of advice provided ...

Super not sacred: Rice Warner

HARRISON WORLEY  |  MONDAY, 25 MAY 2020
Rice Warner founder Michael Rice has warned the superannuation industry to prepare for the government using the system as a means of repaying its stimulus debt, saying super won't be as sacred as it has been in the past. Rice has warned the superannuation ...

Retirement income covenant delayed

HARRISON WORLEY  |  MONDAY, 25 MAY 2020
The government is delaying the introduction of the retirement income covenant, due to the impact of COVID-19. Originally slated for introduction on July 1, the retirement income covenant has been delayed, with the government not yet in a position to ...

Fund pulls mandate, alters pandemic definition

ELIZABETH MCARTHUR  |  WEDNESDAY, 20 MAY 2020
QSuper will take the management of its social responsible investment option in house and has changed the definition of pandemic illness. AMP Capital will no longer manage QSuper's socially responsible investment option as of 1 July 2020. "This change ...

State Street fund purges tobacco, weapons

KANIKA SOOD  |  FRIDAY, 15 MAY 2020
State Street's international equities trust, which tracks MSCI World ex Australia, is set to exclude tobacco and controversial weapons. It will make the changes from July 1, for both the hedged and unhedged versions of the State Street International ...

Merging super funds guaranteed tax relief

HARRISON WORLEY  |  FRIDAY, 15 MAY 2020
Superannuation funds are set to permanently avoid negative tax outcomes upon merging, after an amendment bill sailed through parliament yesterday. While the FASEA extension stalled yesterday, the parliament successfully shepherded the government's Treasury ...

Law firm bolsters financial services team

ELIZA BAVIN  |  FRIDAY, 15 MAY 2020
Herbert Smith Freehills has appointed a new partner to its financial services regulatory practice. Charlotte Henry joins the firm May 18 and will focus on advising clients in regards to Australian banking regulatory matters alongside partners Michael ...

ASIC secures $160m in remediation over junk credit insurance

ALLY SELBY  |  THURSDAY, 14 MAY 2020
ASIC has announced it has secured $160 million in remediation for consumers sold junk credit insurance from 11 major banks and lenders between 2011 and 2018. These include offerings from ANZ, Australian Central Credit Union, Bank of Queensland, Bendigo ...

Morningstar downgrades two Vanguard funds to neutral

KANIKA SOOD  |  WEDNESDAY, 13 MAY 2020
Two unlisted funds from Vanguard have had their retail share classes downgraded at Morningstar, with the ratings house bringing attention to the vehicles' higher fees compared to their listed or wholesale versions. The lower-investment-minimum share ...

Active share, past outperformance can predict returns

KANIKA SOOD  |  MONDAY, 11 MAY 2020
A new study argues that separately managed accounts with high active shares and a history of outperformance can be expected to continue delivering in the future. Active share, which was introduced by Cremers and Petajisto in 2009, is calculated as the ...