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Top picks for dividends during COVID-19

KANIKA SOOD  |  THURSDAY, 16 APR 2020
UBS says the dividend dip in Australian stocks in the next year could be worse than the Global Financial Crisis, but six stocks are poised to pay good dividends. In 2008, dividends fell by $10.5 billion (or 28%) to $44.9 billion. But this time, dividends ...

APRA-regulated fund or SMSF: It's all the same

ELIZA BAVIN  |  THURSDAY, 16 APR 2020
... funds during this crisis. The figures indicate that during a crisis, having a specialised team of investment professionals is not likely to make all too much of a difference. And, it would seem, a fair few Australians are looking to make the change to ...

Not the time to sell products

HARRISON WORLEY  |  THURSDAY, 16 APR 2020
... around what this means to me and my health. "And so the first few weeks of this crisis we were very much focused on actually not doing anything with financial markets. If I'm brutally honest, we stopped selling. We stopped selling because we wanted ...

Pension pots around the world during COVID-19

KANIKA SOOD  |  THURSDAY, 16 APR 2020
... employment has been affected by COVID, in a move that was panned by the opposition and industry funds lobby. Australia is not the only country to allow early access to retirement savings during COVID-19 - the United States and India have made similar ...

Financial services exec embroiled in bribery scheme

ALLY SELBY  |  THURSDAY, 16 APR 2020
... US$60,000 to members of the Ghanaian parliament. The SEC alleges that Berko took deliberate measures so his employee would not detect the bribery scheme, and even misled his employer's compliance team about the true role of the Ghana-based intermediary ...

New ASIC guidance on active ETFs

KANIKA SOOD  |  THURSDAY, 16 APR 2020
... mentioned that non-transparent quoted funds may have larger spreads than transparent ones. "As the actual portfolio composition is not publicly disclosed each day, it is difficult for an independent market maker (who does not know the portfolio composition) ...

QSuper board takes AFCA decision to court

KANIKA SOOD  |  THURSDAY, 16 APR 2020
... appeal and ordered it to pay costs. However, it gave it leave to come back with additional grounds, and also said the fund had not breached its disclosure obligations. "QSuper is considering the Federal Court judgement and the appropriate next steps. ...

AFCA extends complaints response time

ALLY SELBY  |  THURSDAY, 16 APR 2020
The Australian Financial Complaints Authority (AFCA) will provide a nine-day extension to consumers, small businesses and financial services firms to respond to complaints amid the COVID-19 crisis. The change comes into effect immediately and will apply ...

Global markets bleed red

ALLY SELBY  |  THURSDAY, 16 APR 2020
... markets, as coronavirus cases surpass the two million mark and deaths reach nearly 137,000. US industrial output fell to levels not seen in 70 years in March, while retail sales fell by 8.7%. The New York Federal Reserve's Empire State Index plummeted ...

ASIC demands compliance despite COVID-19

HARRISON WORLEY  |  THURSDAY, 16 APR 2020
... of the S&P/ASX 200 index. The regulator is concerned the bets may have constituted a financial product which Sportsbet is not licensed to offer. The firm has since withdrawn the option, and revealed to ASIC that its availability was due to challenges ...