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Bragg renews calls for Future Fund to manage super

KANIKA SOOD  |  FRIDAY, 20 AUG 2021
Liberal senator Andrew Bragg has launched a short paper to push for the sovereign wealth fund to manage all superannuation unless a worker opts out. The 20-page widely spaced paper titled Competition for Workers' Superannuation characterises the current ...

Three-month relief proposal gains traction

KARREN VERGARA  |  FRIDAY, 20 AUG 2021
The relief that will allow financial advisers to sit the November examination regardless of their last sitting is closer to becoming official. The Financial Advisers Standards and Ethics Authority announced yesterday that the Corporations (Relevant ...

Netflix insider trading ring charged

ELIZABETH MCARTHUR  |  FRIDAY, 20 AUG 2021
... Jun, while employed at Netflix in 2016 and 2017, repeatedly tipped this information to his brother, Joon Mo Jun, and his close friend, Junwoo Chon, who both used it to trade in advance of multiple Netflix earnings announcements. After Jun left Netflix ...

Jupiter AM adds APAC insto lead

JAMIE WILLIAMSON  |  THURSDAY, 19 AUG 2021
... joining from Allianz Global Investors where he was managing director, head of Asia Pacific institutional sales. Phua brings close to 25 years' experience, almost 22 of which were spent with Allianz Global Investors. Having joined last month, Phua is ...

APRA issues guidance on lifecycle products for performance test

KANIKA SOOD  |  WEDNESDAY, 18 AUG 2021
APRA has issued guidance on how it will administer the Your Future, Your Super performance test for lifecycle MySuper options that make changes within the option or transition to a new option. The regulator has the power to make determinations on combining ...

Magellan profits dip

KANIKA SOOD  |  TUESDAY, 17 AUG 2021
... short term earnings or performance and that will not be changing." MFG shares had slid 8.5% by mid-day from Monday's close of $51.42.

Vote now in 2021 FS Power50

STAFF WRITER  |  MONDAY, 16 AUG 2021
Voting is now open for the FS Power50, recognising the most influential financial advisers in Australia in 2021. Financial Standard received more than 140 nominations for the FS Power50, including several familiar faces and plenty of new. In the making ...

New equities LIC heads for the ASX

KANIKA SOOD  |  MONDAY, 16 AUG 2021
A Sydney boutique is looking to raise $25 million for a listed investment company that will invest in local and global stocks. Lanyon Asset Management will run the offer from September 13 to September 24, priced at $5 per share to raise a total of $25 ...

Engaged members expect more from super

KARREN VERGARA  |  MONDAY, 16 AUG 2021
... someone in a suit," he said.suit." The 18 to 29-year-olds are more open (64%) to talking about salaries and wages with their close friends than those aged 30-40 (58%). Almost three-quarters (70%) don't want to be financially co-dependent with any

ASIC outlines approach to reforms amid uncertainty

JAMIE WILLIAMSON  |  FRIDAY, 13 AUG 2021
... operating environment and the fact that two of the reforms are still awaiting final guidance which won't come until close to the date of implementation. The approach extends to technical or inadvertent breaches only, with Longo saying the regulator ...