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More to do in the fight against inflation: Chalmers

ELIZA BAVIN  |  TUESDAY, 3 SEP 2024
... to Commonwealth Rent Assistance are expected to directly reduce inflation by half of a percentage point in 2024-25 and are not expected to add to broader inflationary pressures." Chalmers acknowledged that inflation is still higher than the government ...

VFMC appoints deputy chair

ELIZABETH FRY  |  TUESDAY, 3 SEP 2024
... Meantime, Claire Rogers has been appointed non-executive director. Rogers has extensive experience across for-purpose and not-for-profit roles. She is group chair of CEO Mastermind, a former chief executive of World Vision Australia and head of digital ...

Former Courtenay House director sentenced

MATTHEW WAI  |  TUESDAY, 3 SEP 2024
... inflicted damage on hundreds of people. Today's sentence demonstrates that such deliberate fraudulent activities will not be tolerated." The Supreme Court of NSW made interim orders on 1 May 2017 under an ASIC application against Courtenay House ...

Consultation begins on new merger notification thresholds

ANDREW MCKEAN  |  MONDAY, 2 SEP 2024
The government has begun consultation on proposed changes to merger notification thresholds as part of broader reforms designed to boost competition and productivity. Treasurer Jim Chalmers said in a joint statement said that they're designed to ensure ...

Super funds fail to meet millennial members' expectations: ASIC roundtable

ANDREW MCKEAN  |  MONDAY, 2 SEP 2024
... Its research has also found that three in 10 millennials check their superannuation performance less than once a year, or not at all. Dunbar said the industry could do a much better job of making super tangible for people. "We need to show people where ...

Betashares completes Bendigo Superannuation acquisition

KARREN VERGARA  |  MONDAY, 2 SEP 2024
... retirement solutions for Betashares, having left Vanguard where he was head of pension and superannuation. Betashares did not share details of the other hires in the superannuation unit other than Bendigo Superannuation's team having moved over. ...

Too much being asked of super trustees: Levy

ELIZA BAVIN  |  FRIDAY, 30 AUG 2024
... trustees are doing to try and comply with the retirement income covenant and those regulators are already concerned that it is not enough. "I worry about adding to that burden. These are trusts, it's not a bank, they're not insurance companies, they ...

CLSA penalised over data mistakes

MATTHEW WAI  |  FRIDAY, 30 AUG 2024
... made without appreciation for the global impact was a "serious oversight". "The MDP were concerned this system change was not adequately scoped and tested before implementation to capture potential unintended impacts in other jurisdictions," ASIC said. ...

E&P free of legacy issues, FUA jumps 26%

KARREN VERGARA  |  FRIDAY, 30 AUG 2024
E&P Financial Group's 7400 advised-client base saw their wealth jump 26% to nearly $30 billion, while former clients under the defunct Dixon Advisory continue to struggle to access recourse. The ASX-listed wealth firm boasted it oversaw $29.4 billion ...

Platinum outflows drag performance

KARREN VERGARA  |  FRIDAY, 30 AUG 2024
... Portfolios PLC (UCITS). Retail and insto outflows in FY23 were $1.24 billion and $1.15 billion respectively. The fund manager did not earn performance fees during the period. Most strategies delivered absolute returns above 5% but still lagged broader ...