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AMP Capital buys digital infrastructure firm

KARREN VERGARA  |  WEDNESDAY, 23 SEP 2020
... fibre-to-the-premises (FTTP) networks by partnering with local authorities, real-estate owners and investors. The firm did not disclose how much it paid for VX Fiber or the size of its interest. AMP Capital has been investing in communications infrastructure ...

Count Financial adds member firm

ANNABELLE DICKSON  |  WEDNESDAY, 23 SEP 2020
... ever," he said. It comes as class action proceedings were filed against Count Financial by Piper Alderman who alleges it did not ensure its financial advisers did not contravene their legal obligations to clients, failed to ensure adviser remuneration ...

Chief economist update: RBA negative on negative interest rate policy

BENJAMIN ONG  |  WEDNESDAY, 23 SEP 2020
... intervention is another potential policy option. However, with the Australian dollar broadly aligned with its fundamentals, it is not clear this would be effective in the current circumstances. (3) lower the current structure of rates in the economy ...

Lifespan adds MDAs to BT Panorama

KANIKA SOOD  |  TUESDAY, 22 SEP 2020
... financial advisers hoping to earn fees, Financial Standard reported in September 2019. IMAP in March this year said it is does not expect ASIC to take regulatory action regarding MDAs over next six to twelve months.

Robo advice solution set to launch

ALLY SELBY  |  TUESDAY, 22 SEP 2020
Nucleus Wealth and Arrow Financial Advice have partnered to launch a white label digital advice platform, set to feature actively managed portfolios and over 30 ESG filters. This will make it the most comprehensive robo advice service in the Australian ...

Index manager, friend charged for insider trading

KANIKA SOOD  |  TUESDAY, 22 SEP 2020
... used the information to enrich himself and Chen. Their attempts to disguise the unlawful trades by using Chen's account did not prevent the SEC from uncovering their scheme."

Ethical super fund overhauls fees

ELIZABETH MCARTHUR  |  TUESDAY, 22 SEP 2020
An ethical superannuation fund which targets young, socially aware people has overhauled its investment and administration fees. Cruelty Free Super will change its fees from 1 October 2020, in a move that the fund says should lower the cost over all ...

ASIC provides relief to Victorian advisers

ALLY SELBY  |  TUESDAY, 22 SEP 2020
... disclosure statement (FDS) due between August 2 and October 26 will apply for the no-action, or for an instance where the FDS has not been given to the client on, or prior to, October 26 and it is given to the client by December 7. ASIC will not take ...

Praemium to acquire remaining Powerwrap shares

ALLY SELBY  |  MONDAY, 21 SEP 2020
Praemium is set to add to its 92.31% stake in Powerwrap, as it moves to acquire its outstanding shares on issue. Compulsory acquisition notices will be dispatched to Powerwrap shareholders tomorrow, Praemium says, unless they accept the offer by 7.00pm ...

Contango approves new WCM strategy

ALLY SELBY  |  MONDAY, 21 SEP 2020
... significant decline in shareholder value". In a letter to CIE shareholders, Prescott said the WCM strategy was "flawed" and not in the best interest of "long-suffering CIE shareholders". He argued the strategy shift would expose investors to currency ...