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ATO begins stimulus fraud convictions

ELIZA BAVIN  |  THURSDAY, 25 FEB 2021
The Australian Taxation Office (ATO) has started cracking down on those who fraudulently accessed government stimulus measures in relation to COVID-19 with the first conviction. Raed Saleh was convicted in the Heidelberg Magistrates Court of three counts ...

Trilogy appoints head of property, lending

JAMIE WILLIAMSON  |  THURSDAY, 25 FEB 2021
... years' experience in asset management and property development. Before joining Trilogy Arentz ran Winston Group for close to three decades, advising on commercial, industrial and residential projects in Queensland. He has also previously worked with ...

Equipsuper merges with corporate fund

KARREN VERGARA  |  WEDNESDAY, 24 FEB 2021
Equipsuper has merged with a corporate superannuation plan that will add $860 million of assets to the fold. The $16 billion superannuation fund will manage the retirement savings of Toyota Super's 5000 members. Toyota Super chair Rob Purcell said ...

JANA awarded mandate

ANNABELLE DICKSON  |  WEDNESDAY, 24 FEB 2021
The asset consultant has won a mandate to provide investment advisory services to a Queensland-based health insurer. TUH Health Fund selected JANA after a three-way tender process in January 2021 and follows growth in JANA's investment advisory offering ...

Wells Fargo sells asset management business

ELIZA BAVIN  |  WEDNESDAY, 24 FEB 2021
... to its collective investment trusts and all related WFAM legal entities. Wells Fargo said the transaction is expected to close in the second half of 2021, subject to customary closing conditions. As part of the transaction, Wells Fargo will own a 9.9% ...

Seek launches investments arm

ELIZA BAVIN  |  TUESDAY, 23 FEB 2021
... decisions and access external capital," Seek said. "Online education services stands to benefit from ongoing investment and a close cooperation with early stage ventures education portfolio to continue to deliver a world-class experience for partners ...

ASIC zeroes in on bad SMSF advice, conduct

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
The corporate regulator continues to hunt down perpetrators that give bad advice to self-managed super funds, sounding a warning that it is flexing its new powers in superannuation. ASIC commissioner Danielle Press told the recent SMSF Association's ...

J.P. Morgan custody exec retires

KANIKA SOOD  |  MONDAY, 22 FEB 2021
... Morgan executive in its securities service business has retired after nearly 20 years with the company. Bryan Gray spent close to 20 years at J.P. Morgan, which is the largest custodian in Australia. Prior to this, he spent about 12 years at State Street ...

Investors on red alert despite vaccines

KARREN VERGARA  |  MONDAY, 22 FEB 2021
... have entered bubble territory. However, fund selectors surveyed view market risk as an opportunity, while acknowledging close analysis is required to uncover the opportunities to generate alpha for clients," he said.

ATO targets SMSF fraud

ANNABELLE DICKSON  |  MONDAY, 22 FEB 2021
... the ATO of any breaches and thoroughly check the identity of any new clients before establishing an SMSF. "Finally, pay close attention to ATO issued alerts/notifications advising of changes to the SMSF account," he said. "If you or your clients are ...