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Bring on compulsory annuities, says Deloitte partner

JAMES FERNYHOUGH  |  WEDNESDAY, 28 MAY 2014
... suggested that scrapping compulsion was a populist move, saying: "It sounds like a politician looking to be re-elected." The next UK general election is less than a year away.

Market Wrap AM

AAP  |  WEDNESDAY, 28 MAY 2014
... dollar on comments by ECB chief Mario Draghi interpreted by the market to mean the bank may ease monetary policy further next month as it seeks to avoid a dangerous fall in prices. HONG KONG - Asian markets mostly fell, retreating from the previous day's ...

APRA announces draft 2014-15 supervisory levies

ALEX DUNNIN  |  TUESDAY, 27 MAY 2014
... Treasury have issued a discussion paper on the proposed supervision levies they wish to impose on financial entities for next financial year. In the paper APRA said it needs to raise $117 million in 2014/15 albeit it's only a marginal increase from 2013-14. ...

Baby boomers account for four in five dollars under advice

MARK SMITH  |  TUESDAY, 27 MAY 2014
... planner funds under advice. With the number of retirees and pre-retirees set to grow from 6.2 million to 7.9 million over the next 10 years, according to the ABS, the economic importance of this group will continue to increase. "In 2013, for the first ...

Banks support the "original" FoFA intent: ABA

LAURA MILLAN  |  MONDAY, 26 MAY 2014
... Committee is currently looking at the FoFA amendments and will be reporting its conclusions to the Parliament during the next sitting period. Read all Financial Standard coverage of the FoFA legislationA here

Invest in UK infrastructure, super funds urged

JAMES FERNYHOUGH  |  MONDAY, 26 MAY 2014
... investor relations for government body, UK Trade & Investment, the UK will expect to need £355 billion of investment over the next 20 years, 40% of which will be in the energy sector. She said that, of all the global pension funds, Australian super ...

FSC apologises to AusSuper for misinformed tweet

JAMES FERNYHOUGH  |  MONDAY, 26 MAY 2014
... collected by AustralianSuper per year for intra-fund advice. Fees are not transparent. Members can't opt out." However, the next day the FSC tweeted: "FSC apologises to AustralianSuper for yesterday's comments on our twitteraccount [sic]. We acknowledge ...

Let's talk about VIX baby

BENJAMIN ONG  |  MONDAY, 26 MAY 2014
... European Central Bank appears to have reached that "if necessary" stage and is expected to do something - anything - as soon as next month. The central banks got our backs! So despite the sabre-rattling between the west and Russia, the military coup ...

Market Wrap AM

AAP  |  MONDAY, 26 MAY 2014
... uncertainty towards new share offers is now resolved, market confidence is in gradual recovery," he added. TOKYO - Tokyo investors next week will keep a close eye on simmering tensions in the Ukraine and events in Thailand following a military coup ...

Intra-fund advice is also a commission: FSC

LAURA MILLAN  |  FRIDAY, 23 MAY 2014
... paying financial advisers grandfathered commissions and other incentives would cost Australians an extra $2.8 billion over the next 14 years. However, Treasury representatives questioned the findings during yesterday's Senate hearing. "It is hard to ...