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ASX provides clarity on CHESS replacement

CHLOE WALKER  |  THURSDAY, 29 JUN 2023
Responding to suggestions made at the Parliamentary Joint Committee (Committee) on Corporations and Financial Services, the ASX has confirmed no decisions have been made in relation to the CHESS replacement. In a letter to Committee chair Senator Deborah ...

Westpac plans aggressive platforms play

JAMIE WILLIAMSON  |  WEDNESDAY, 21 JUN 2023
Bringing an end to years of speculation and sales discussions, Westpac will retain its platforms business, saying it intends to "aggressively compete" in the space. Despite having carried out a lengthy and competitive sales process, Westpac is going ...

VanEck reduces management fees on ETFs

CASSANDRA BALDINI  |  MONDAY, 19 JUN 2023
... infrastructure companies, "which are well positioned to benefit from the estimated $60 trillion global outlay needed to upgrade ageing utilities by 2035." "With IFRA, investors receive attractive, stable income streams, often regulated and CPI-linked ...

BT upgrades platform functionality

KARREN VERGARA  |  WEDNESDAY, 31 MAY 2023
... security features on BT Panorama, to manage risks related to the increasing cybercrime rate in Australia," she said. A recent upgrade enabled support teams to source information relating to social security. "Advisers and their teams can now generate ...

Fitch gives Labor budget AAA rating

CASSANDRA BALDINI  |  WEDNESDAY, 17 MAY 2023
For the first time under a Labor government, Fitch has handed down a AAA rating to the May budget. In a statement, Fitch applauded the government for its spending restraint and said the nation's public finances had outperformed expectations. "The commitment ...

What you need to know about the 2023-24 budget

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... that will make it easier and cheaper to run their businesses, starting with a tax incentive that encourages the use or upgrade of energy efficient machines. The Small Business Energy Incentive will help about 3.8 million small- and medium-sized enterprises ...

Budget cuts advisers' power bills, admin burden

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... turnover of less than $50 million. Advice firms can either invest in eligible assets that are ultimately energy efficient or upgrade existing ones. Assets that support electrification include heat pumps and electric heating or cooling systems, and demand ...

YFYS sanctions don't help existing members: ISA

CHLOE WALKER  |  THURSDAY, 27 APR 2023
... should commit to all APRA-regulated funds being tested in the retirement phase from this year. "The government needs to upgrade consumer protections, so members are only stapled to the best funds, who have passed the performance tests," ISA deputy chief ...

Morningstar downgrades PIMCO, Vanguard funds

JAMIE WILLIAMSON  |  THURSDAY, 27 APR 2023
Morningstar has downgraded four fixed income products following its annual fund manager review. As part of the 2022/23 review, Morningstar completed qualitative assessments of 72 fixed income strategies. As a result, four products were downgraded and ...

Equity Trustees enlists HUB24 for custodial platform admin

ANDREW MCKEAN  |  TUESDAY, 18 APR 2023
HUB24 has entered into a Heads of Agreement with Equity Trustees to provide custodial platform administration and technology solutions. The agreement between Equity Trustees and HUB24 covers large transitions totalling around $4 billion funds under ...