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Cybercriminals attack major super funds

ANDREW MCKEAN  |  FRIDAY, 4 APR 2025
... accounts, adding that there's been no financial impact at this stage. "Our Cyber Security team are actively working to apply additional monitoring and mitigations to protect customer accounts. As a precaution we've taken steps to restrict some ...

APRA hits ANZ with $1bn capital penalty

ELIZA BAVIN  |  THURSDAY, 3 APR 2025
The Australian Prudential Regulatory Authority (APRA) has accepted a Court Enforceable Undertaking (CEU) from ANZ to address ongoing weaknesses in the bank's non-financial risk management practices and risk culture. APRA also increased the capital add-on ...

Investors brace as US unleashes tariffs

ELIZA BAVIN  |  THURSDAY, 3 APR 2025
US President Donald Trump has unleashed a barrage of tariffs on just about every country, imposing a blanket 10% tariff on all imports from all countries, plus higher reciprocal tariffs on many countries to offset what he believes are barriers to US ...

iExtend appoints chief operating officer

ELIZA BAVIN  |  WEDNESDAY, 2 APR 2025
... operating without a licence, including possibly providing financial product advice. As part of the undertaking, iExtend had to apply for an AFSL.

HMC Capital to launch new private equity vehicle

MATTHEW WAI  |  TUESDAY, 1 APR 2025
Building on its success, HMC Capital will relaunch the HMC Capital Partners Fund I with an expanded mandate. HMC Capital Partners Fund I (HMCCP Fund I) - predominantly targeting listed investments up to 10 positions - delivered more than 55% net returns ...

Modern family offices want values aligned, pioneer companies

KARREN VERGARA  |  FRIDAY, 28 MAR 2025
... director Ingrid Albert said her family business' "pioneering spirit" has been an enabler of its success and aims to apply this ambition to its impact investing endeavours. The 120-year-old family business with roots in the music industry now holds ...

Tax rules clarified for managed investment trusts

ANDREW MCKEAN  |  TUESDAY, 25 MAR 2025
... that change complements the Australian Taxation Office's strengthened guidelines to prevent misuse. This measure will apply to fund payments from 13 March 2025. The government will also defer the start dates of two previously announced tax measures. ...

New tax cuts for every Australian 'a complete joke': UNSW

ANDREW MCKEAN  |  TUESDAY, 25 MAR 2025
... government will scrap non-compete clauses, which tie up more than three million Australians. However, the abolishment will only apply to "most workers," limited to low- and middle-income earners. The idea is that freeing them up to take better, higher-paying ...

Non-compete, restraint clauses to be outlawed

JAMIE WILLIAMSON  |  TUESDAY, 25 MAR 2025
... to have on wages, non-compete clauses will be banned where they "have no justification and drag down wages." The ban will apply to all workers who earn less than $175,000, the current high-income threshold under the Fair Work Act. It's estimated about ...

Study finds 5000 European ESG funds investing in fossil fuels

JAMIE WILLIAMSON  |  THURSDAY, 20 MAR 2025
... sustainability jungle by providing clear guidelines," she said. "For all 'green' investments, strict fossil fuel exclusions should apply. Similarly, it should be a no brainer that so-called transition funds need to exclude companies that are developing ...