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NAB progresses closure of custody arm

CASSANDRA BALDINI  |  WEDNESDAY, 21 JUN 2023
... global custodian since 2016. The group confirmed clients who choose to move over are expected to begin transitioning in the next 12-18 months. The closure is expected to complete in 2025. As of March 2023, NAB Asset Servicing oversaw the assets of Alcoa ...

Macquarie shifts toward AI-first banking

CASSANDRA BALDINI  |  WEDNESDAY, 21 JUN 2023
... leveraging that investment in our technology stack, and in partnership with Google Cloud, we're now well positioned to take the next step by applying an AI-first approach across our digital and data platforms." Macquarie said it has been able to embed ...

ASIC flags AI regulation remit

KARREN VERGARA  |  TUESDAY, 20 JUN 2023
... ASIC expects to consult on expanding automated order processing rules to futures markets to reflect developments with AI next financial year. "We are also planning to update our electronic trading guidance for the same reason," he said. Longo emphasised ...

Government pledges $2bn to fast-track social housing

ANDREW MCKEAN  |  MONDAY, 19 JUN 2023
... housing across Australia. The Social Housing Accelerator funds will be dispensed to State and Territory governments within the next fortnight. It's hoped this will boost the housing supply by creating homes for Australians who are currently on social ...

Allianz Retire+ makes key appointments

ANDREW MCKEAN  |  MONDAY, 19 JUN 2023
... retirement." The new appointees will join former PwC partner David Coogan and Allianz Retire+ director Sally Evans when they next meet in July 2023. Meanwhile, former Actuaries Institute president Nicolette Rubinsztein will step down following the completion ...

ASIC releases May exam pass rate

KARREN VERGARA  |  MONDAY, 19 JUN 2023
... the suitability of advice aligned to different consumer groups, incorporating consumer behaviour and decision making. The next exam sitting will be held on August 10. Enrolments for the August sitting open on July 3 and close on July 21.

ANZ reaches agreement with QLD government over Suncorp

CASSANDRA BALDINI  |  FRIDAY, 16 JUN 2023
... with the Queensland government as part of the bank's plan to acquire Suncorp Bank. The signing of the agreement marks the next step in ANZ's plan to acquire Suncorp Bank despite concerns raised by the Australian Competition and Consumer Commission (ACCC). ...

Super planning remains top adviser focus this EOFY: Podcast

CASSANDRA BALDINI  |  THURSDAY, 15 JUN 2023
... it as used to, but the rate of SG is continuing to increase up to 12% in a few years, 0.5% each year and 11% from July 1 next financial year." Howard said with this in mind, advisers will need to ensure adjustments in payroll systems are made for their ...

FAAA awards Gwen Fletcher Memorial prize

KARREN VERGARA  |  WEDNESDAY, 14 JUN 2023
... they need it most. "Having programs available to new advisers such as the CFP program will bring financial planning to the next level and help them to live up to their potential. More great advisers mean we can live up to truly becoming a profession," ...

Pascoe Partners, OpenInvest launch online investing solution

CASSANDRA BALDINI  |  WEDNESDAY, 14 JUN 2023
... management expertise, Pascoe Partners said. Hernadi added, with $3.5 trillion of wealth passing through the generations over the next two decades, progressive wealth management and advice firms are acting now to reach and help the children of their clients. ...