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Government should act fast on Johnson Report: FSC

BEN COLLINS  |  MONDAY, 29 OCT 2012
If the Federal Government is serious about exporting financial services to Asia, it must implement all the recommendations in the Johnson Report by 2013, said the Financial Services Council. "The Johnson Report is a practical plan that will open up ...

MySuper: industry not dead if proper action taken

LINDA HAUSKEN  |  MONDAY, 29 OCT 2012
Under the Government's MySuper legislation, it is vital for corporate super specialists to engage with their clients and focus on exited members, warns CESSA. Douglas Latto, president at the Corporate Super Specialist Alliance (CESSA) said that the ...

Ugly jobs decline rattles financial services

LINDA HAUSKEN  |  FRIDAY, 26 OCT 2012
Australia has experienced the world's largest drop off in financial service jobs with a 34% drop in the third quarter of 2012 compared to the same time last year, according to the quarterly Jobs Barometer from eFinancialCareers. While the decline is ...

High frequency trading benefits: UK government

MARK SMITH  |  FRIDAY, 26 OCT 2012
The overwhelming majority of financial professionals say high frequency trading (HFT) is unfair, according to a new survey, but research from the UK government shows that computer automated investment has market benefits. According to a recent survey ...

ASIC consults on code approval under FOFA

LINDA HAUSKEN  |  WEDNESDAY, 24 OCT 2012
ASIC has released its consultation paper on its approach to code approval and relief powers under the Future of Financial Advice (FOFA) regulations, outlining plans to take a facilitative approach to the implementation of the reforms. Australia's corporate ...

Online tool offers comparative performance data

MARK SMITH  |  WEDNESDAY, 24 OCT 2012
SelfWealth, a new online tool for comparing investment portfolios with others, has launched in Australia today. The new subscription based tool allows users to compare their portfolio's performance against those of peers, professionals and the wider ...

Tax-efficient giving advice missing: Macquarie

MARK SMITH  |  WEDNESDAY, 24 OCT 2012
Advisers who don't evolve their businesses to cater for growing client interest in philanthropy risk being left behind. That's the conclusion of Queensland University of Technology research which reveals a growing demand among high net-worth clients ...

CFSGAM makes four new hires

LINDA HAUSKEN  |  WEDNESDAY, 24 OCT 2012
Colonial First State Global Asset Management (CFSGAM) has made four new hires to the listed property securities team following Stephen Hayes rejoining the firm as head of property securities in September. Tuan Pham, is re-joining the firm as a senior ...

Job cuts at PIS

BEN COLLINS  |  MONDAY, 22 OCT 2012
Professional Investment Services has announced structural changes that will see management roles cut. Chief executive Peter Walther in a statement said that while the changes were not motivated by cost cutting, nor were they based on performance of ...

Allianz wins top insurance award

MARK SMITH  |  MONDAY, 22 OCT 2012
Allianz has won the award for Life Insurance Product of the Year at the 2012 Australian Banking and Finance (AB+F) Awards. The awards, held on Thursday at The IVY in Sydney, are Australia's premier insurance accolades with the winners chosen by an independent ...