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mFunds sparked ASX outage, $1m credit issued

KARREN VERGARA  |  FRIDAY, 24 JAN 2025
The ASX said the outage from last month largely stemmed from the now-defunct mFunds and will subsequently credit participants $1 million to make amends. While several circumstances led to the glitch, the ASX traced the root cause to the introduction ...

Government must commit to fixing CSLR: FAAA

MATTHEW WAI  |  THURSDAY, 23 JAN 2025
Financial Advice Association Australia (FAAA) general manager of policy, advocacy, and standards Phil Anderson is again calling on the government to fix the Compensation Scheme of Last Resort (CSLR). Th FAAA has previously highlighted three critical ...

More climate exits as Trump takes charge

ROSE MARY PETRASS  |  WEDNESDAY, 22 JAN 2025
Northern Trust and two other asset managers have left Climate Action 100+ (CA100+) as four banks exit the Net Zero Banking Alliance (NZBA). Northern Trust is the latest to depart both CA100+ and Net Zero Asset Managers initiative (NZAM); MFS Investment ...

Ethical investment holdings double: CoreData

ANDREW MCKEAN  |  TUESDAY, 21 JAN 2025
... sustainable investments has roughly doubled over the past year, according CoreData. The CoreData research obtained by Financial Standard seeks to capture shifting sentiment, trends, and responses to market events, across different wealth levels, ranging ...

Green budgets fatten amid global uncertainty

ROSE MARY PETRASS  |  TUESDAY, 21 JAN 2025
Although cautious about the broader global economy, Australian companies are confident about growth in 2025 and are pouring funds into decarbonisation - marking 2025 as an attractive entry point for green investors. The finding comes from a Capgemini ...

Where to invest when local equities look expensive

ANDREW MCKEAN  |  MONDAY, 20 JAN 2025
Australian equities are richly priced, yet local portfolios remain heavily skewed towards the domestic market; investors have avenues to seek out diversification and better value, according to Morningstar market strategist Lochlan Halloway. Australian ...

BlackRock settles lawsuit for 'misleading consumers'

ANDREW MCKEAN  |  MONDAY, 20 JAN 2025
... will see their assets directed toward these non-financial goals," Skrmetti said. A BlackRock spokesperson told Financial Standard : "We're pleased to resolve this matter." "BlackRock has consistently acted in the best interests of our clients, and we ...

Super admin providers face reckoning in 2025: Finura

KARREN VERGARA  |  MONDAY, 20 JAN 2025
... administration a horrible business to be in," Finura warned. Finura joint-managing director Peter Worn told Financial Standard that pricing issues - when super funds for many years strived to drive down administration fees as much as possible - have ...

Best ESG super options revealed

ROSE MARY PETRASS  |  FRIDAY, 17 JAN 2025
... controversial weapons, tobacco, and live animal exports. Owned by ISS STOXX, Rainmaker Group is publisher of Financial Standard and FS Sustainability.

TPB welcomes stay of sanctions against disqualified agents

MATTHEW WAI  |  THURSDAY, 16 JAN 2025
The Administrative Review Tribunal (ART) has declined to stay or suspend sanctions imposed by the Tax Practitioners Board (TPB) against disqualified tax agents in three separate cases. All three cases relate to misconduct on the part of tax agents ...