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Off the cliff and into the ceiling

BENJAMIN ONG  |  TUESDAY, 15 JAN 2013
... traversed the near-term bump that's again beginning to worry the pants off investors from New York to Rio and old London town. Yes, we've got a problem coming Houston. It's the US debt ceiling. As President Obama warned last night, "markets could go ...

PAS Lodges MySuper application

BEN COLLINS  |  WEDNESDAY, 9 JAN 2013
Industry fund Professional Associations Super yesterday lodged its application to offer a low-cost product to members, under the Federal Government's MySuper reforms. The fund applied for a MySuper license ahead of the "average industry time frame," ...

Mergers likely for Media Super

BEN COLLINS  |  FRIDAY, 14 DEC 2012
Sounding out possible mergers with corporate superannuation funds used by media and publishing companies will be a focus for Media Super's incoming chief executive. Yesterday the $3 billion industry fund for the media and publishing sectors announced ...

FOFA guidance released

BEN COLLINS  |  FRIDAY, 14 DEC 2012
Two key pieces of guidance for the Federal Government's Future of Financial Advice reforms were released by the Australian Securities & Investments Commission Yesterday. Regulatory guides that the corporate watchdog said had been produced after extensive ...

MLC removes managers

BEN COLLINS  |  THURSDAY, 13 DEC 2012
Four Australian equities managers have been let go in a shakeup of two of National Australia Bank-owned MLC's investment strategies, the wealth manager revealed yesterday. Three new Australian equities managers were also appointed, with the changes ...

APRA releases final Prudential Standard for MySuper transition

MARK STORY  |  THURSDAY, 13 DEC 2012
The Australian Prudential Regulation Authority (APRA) yesterday released final Prudential Standard SPS 410 MySuper Transition (SPS 410) and the final approved forms for application for authorisation to offer MySuper products and ERFs for the superannuation ...

Tax consultant cops two years jail for insider trading

MARK STORY  |  THURSDAY, 13 DEC 2012
Former PwC tax consultant, Nicholas Glynatsis was convicted on nine charges of insider trading by the NSW Supreme Court yesterday. In December 2011 Nicholas Glynatsis, of Russell Lea, Sydney, pleaded guilty to the charges of insider trading between ...

Brad Fox Appointed AFA CEO

MARK STORY  |  THURSDAY, 13 DEC 2012
Following the shock resignation by the Association of Financial Advisers (AFA) CEO Richard Klipin a month ago, the immediate past president, current treasurer and Interim CEO, Brad Fox was announced as his successor yesterday. Commenting on the announcement ...

Pension funds reckless on climate risk: Hewson

BEN COLLINS  |  WEDNESDAY, 12 DEC 2012
A survey of the world's biggest pension funds and insurance companies has uncovered a reckless mismanagement of climate change risk, said a prominent economist. Yesterday the not-for-profit group the Asset Owners Disclosure Project (AOPD) released what ...

ASIC eyes off researchers

BEN COLLINS  |  TUESDAY, 11 DEC 2012
Australia's corporate watchdog will conduct targeted surveillance of research report providers after it unveiled updated policy to improve the reliability of their products yesterday. The Australian Securities and Investments Commission (ASIC) said ...