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UN PRI gets tough and de-lists signatories

MICHAEL HOBBS  |  THURSDAY, 16 JUL 2009
The United Nations Principles for Responsible Investment (UN PRI) is kicking out around six signatories next month for failing to fulfill their reporting duties. James Gifford, executive director of the PRI, said the signatories would be de-listed after ...

Beware the tiny URL

MICHELLE BALTAZAR  |  THURSDAY, 16 JUL 2009
... Online criminals are leaving no virtual stones unturned - targeting finance professionals who are Twitter-happy as their next victims. The popularity of Twitter has given rise to so-called tiny URL links, often used in Tweets to refer to articles or ...

Former St George chief to join AMP board

COMPANY RELEASE  |  THURSDAY, 16 JUL 2009
Paul Fegan, former chief executive officer of St George, joins the AMP board as a non-executive director, effective next month. Fegan was the chief executive of St George Bank from November 2007 and managing director from February 2008 until its merger ...

Oasis looks to SMAs and ETFs

RUTH LIEW  |  WEDNESDAY, 15 JUL 2009
... their investments. Oasis said it recognised that direct shares, ETFs and SMAs were likely to grow exponentially within the next few years, and its business developments will focus strongly on those trends. The Oasis Group is made up of three companies ...

Positive surprise beats Meredith's surprise

BENJAMIN ONG  |  WEDNESDAY, 15 JUL 2009
... financial sector is stabilising and financial companies are making profits. Bank of America, JP Morgan and Citigroup will be the next big banks reporting their earnings soon. Chances are we will witness the same result. Or shall we? Yes we shall. GS ...

UniSuper activates fair value clause

RUTH LIEW  |  TUESDAY, 14 JUL 2009
... UniSuper said it would be closely monitoring its DB division, and conduct two further formal actuarial reviews during the next four years. The fund said it may be required to reduce benefits on a "fair and equitable basis" by the end of the monitoring ...

Pillar tenders for RBF-TAS deal

RUTH LIEW  |  TUESDAY, 14 JUL 2009
... Beck, chief executive of Pillar Administration, said RBF-TAS was expected to announce the result of the tender within the next two months. "Our objective is to generally take on one client a year, and the most recent one we took on was Aon. "At the moment ...

Market Wrap - Morning

AAP  |  TUESDAY, 14 JUL 2009
... Sunday, piling pressure on Prime Minister Taro Aso. His election bureau chief said Monday he was set to call a snap poll next month, leading to fears of political upheaval. The benchmark Nikkei-225 index dropped 236.95 points, or 2.55 per cent, to 9,050.33. ...

Berry Fin Services ready for next growth phase

MICHAEL HOBBS  |  MONDAY, 13 JUL 2009
Berry Financial Services managing director and FPA chair, Julie Berry, said ComCorp's 40 per cent stake gives her company more firepower to grow its client base, particularly in the credit union sector. MMC Contrarian subsidiary, ComCorp Financial Advice ...

ASIC lifts restrictions on intra-fund advice

MICHELLE BALTAZAR  |  FRIDAY, 10 JUL 2009
... Meanwhile, industry body IFSA welcomed the changes but said ASIC didn't go far enough. IFSA chief Richard Gilbert said the next step should be to offer the regulatory relief to financial advice outside superannuation.