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ASIC unveils primary school teaching package

ALEX DUNNIN  |  MONDAY, 13 AUG 2012
Financial literacy is taught across most states' curricula throughout primary school and across subject areas in secondary school but this package includes tailored material for primary teachers that has been mapped into the Australian National Curriculum. ...

All advice scaled in proposed ASIC guidance

MELANIE TIMBRELL  |  FRIDAY, 10 AUG 2012
... spectrum. The proposed guidance therefore is that the same rules, including the best interests duty and related obligations, apply to all personal advice on a particular topic, regardless of advice scope. The advice provider would therefore be required ...

Legal challenges face default super inquiry

MELANIE TIMBRELL  |  WEDNESDAY, 8 AUG 2012
... MySuper product in order to be considered as a default fund in modern awards. Under option three, Fair Work Australia would apply the criteria, where option four would see this done by an expert panel, whose recommendations would then be adopted by Fair ...

CGT relief for super funds backdated

LINDA HAUSKEN  |  MONDAY, 6 AUG 2012
... this measure. Shorten said Treasury will backdate the capital gains tax relief (CGT) for merging superannuation funds to apply from 1 October 2011. Other changes that have been made to the income tax relief includes extending the relief to all revenue ...

Portfolio Disclosure guideline released

LINDA HAUSKEN  |  THURSDAY, 2 AUG 2012
... portfolios up to 60 to 90 days under the proposed guidelines," he said. The Financial Services Council (FSC) guidelines will apply to all of its members once they become legislation. "While the FSC can only put out regulation for its members... the expectation ...

North to offer bank deposit rebates

LINDA HAUSKEN  |  MONDAY, 30 JUL 2012
... proportion of the platform's FUA in deposit investments has increased 5-fold to 6.9%. "The administration fee rebate will apply to all clients who take out a new North term deposit or roll over a maturing term deposit between 1 August and 31 December ...

Cormann criticises trust reform delay

MELANIE TIMBRELL  |  MONDAY, 30 JUL 2012
Shadow Minister for Financial Services Mathias Cormann has criticised an additional delay on promised tax reform for managed investment trusts. In a statement issued this morning following news Assistant Treasurer David Bradbury would announce the delay ...

BlackRock expands fixed income team

MELANIE TIMBRELL  |  FRIDAY, 27 JUL 2012
BlackRock Australia has expanded its Sydney-based fixed income team with the appointment of Michael Prljaca as portfolio manager. The appointment creates a new position and is a move to shore up capabilities among changes to fixed income investing by ...

ASX small caps new listing rules finalised

MELANIE TIMBRELL  |  THURSDAY, 26 JUL 2012
... an annual basis, I want to see where that money's going," Noble said. "Those adages of investing in small companies still apply - you still need to be able to assess whether the management team has a good plan in place and whether it will give a meaningful ...

Family office tech suitability highlighted

MELANIE TIMBRELL  |  WEDNESDAY, 25 JUL 2012
... industry offerings. A" Concheanainn said one example of where family offices may fail to appreciate the standard protocols that apply is in the issue of unlisted unit trust products - often cash management trusts. "While a cash management trust (CMT) ...