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Government advances adviser levy drop

KARREN VERGARA  |  THURSDAY, 11 NOV 2021
The federal government is forging ahead with slashing the financial adviser levy by more than a third for those that provide retail advice. Corporate watchdog ASIC today updated its 2020-21 Cost Recovery Implementation Statement, which lays out how ...

Supply chain issues push up retiree expenses

KARREN VERGARA  |  THURSDAY, 11 NOV 2021
Retirees continue to bear the brunt of an expensive retirement fuelled by global supply chain issues. Retired couples and singles saw living expenses in their twilight years rise 1% in the September quarter, the latest Association of Superannuation ...

What super funds should know about Gen Z

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 NOV 2021
... very powerful tool in a young person's investment toolkit, and it's being disregarded." Additionally, the research found free financial advice from parents was the most popular source of information for 56%, closely followed by friends at 36%. 'Finfluencers' ...

CBA takes stake in AI firm

ANNABELLE DICKSON  |  MONDAY, 8 NOV 2021
Commonwealth Bank has taken a minority stake in a Silicon Valley-based artificial intelligence (AI) platform. H2O.ai operates a cloud-based machine learning platform, H2O AI Cloud, and employs some of the world's top data scientists. The partnership ...

Carlyle Group bids for Link

ANNABELLE DICKSON  |  FRIDAY, 5 NOV 2021
Carlyle Asia Partners has made a takeover offer for 100% of Link Group, valuing it at $5.38 per share - a significant premium. Carlyle Group's offer is made up of $3 per share cash offer for Link Group and a pro rata distribution of Link Group's shareholding ...

ASIC shuts down unlicensed investment scheme

KARREN VERGARA  |  THURSDAY, 4 NOV 2021
An unlicensed financial services firm that allegedly misappropriated $5.7 million from self-managed superannuation fund members is in the process of being shut down by ASIC. ASIC obtained interim orders and injunctions from the Queensland Federal Court ...

$450 super threshold to be scrapped

ELIZABETH MCARTHUR  |  THURSDAY, 28 OCT 2021
The government has moved on its election promise to scrap the $450 threshold for superannuation. Minister for superannuation, financial services, the digital economy and women's financial security Jane Hume said a bill introduced to Parliament yesterday ...

eToro expands crypto offering

JAMIE WILLIAMSON  |  TUESDAY, 26 OCT 2021
... Polkadot. From November 1, Australian users will also be able to earn monthly staking rewards and enjoy simple, secure and hassle-free growth on their Cardano (ADA) and TRON (TRX) investments, through eToro's dedicated staking service. Assets staked ...

ASIC sues former Freedom Insurance staff

KARREN VERGARA  |  MONDAY, 25 OCT 2021
A former Freedom Insurance director and consultant will head to Federal Court for their alleged involvement in aggressive sales tactics. ASIC has commenced civil penalty proceedings against former Freedom Insurance managing director of Keith Cohen and ...

Former Spectrum chief cops additional bans

KARREN VERGARA  |  WEDNESDAY, 20 OCT 2021
Former Spectrum Wealth Advisers chief executive Mark Schroeder has been slapped with banning orders in addition to his six-year ban from providing financial services. The Administrative Appeals Tribunal amended ASIC's banning order that was handed down ...