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No exclusions for frontline workers

ELIZA BAVIN  |  TUESDAY, 7 APR 2020
Australia's life insurers have committed to ensure frontline healthcare workers will not be prevented from obtaining life insurance cover due to COVID-19. The Financial Services Council said the commitment comes on behalf of participating life insurance ...

Not at the bottom, yet: Research

HARRISON WORLEY  |  TUESDAY, 7 APR 2020
... pointed out that over the past three weeks, 80% of retail investors haven't yet wavered from their view that the market has not yet reached its bottom.

Hundreds of thousands flock to early release

ELIZA BAVIN  |  TUESDAY, 7 APR 2020
... business structures and employment arrangements following the stimulus announcements." The organisations stressed that it is not acceptable to backdate or artificially change a business structure or employment arrangements to obtain a benefit or payment. ...

Super fund temporarily cuts fees

HARRISON WORLEY  |  TUESDAY, 7 APR 2020
... an abundance of people losing their jobs, and it's clear that every extra dollar counts," Venkatesan said. "We're not simply deferring fees for six months - we're waiving 50% of the fees altogether. With the Federal Government now granting ...

CBA appoints chief economist

ALLY SELBY  |  TUESDAY, 7 APR 2020
Commonwealth Bank has appointed a new chief economist, set to take on the new role in addition to his responsibilities as the bank's head of global economic and markets research. Stephen Halmarick nabbed the new role this week, having been with ...

Super funds face penalties over early release failures

ELIZABETH MCARTHUR  |  TUESDAY, 7 APR 2020
... liquidity issues as a result of the new early release rules, Frydenberg said that the government expects such a situation should not arise in the first place. "The government expects that superannuation trustees have managed their legal obligations responsibly ...

A coronavirus-bitten cat bounce?

BENJAMIN ONG  |  TUESDAY, 7 APR 2020
... since. This is a good vital sign attached to a person's heartbeat ( I don't know what that machine is called), but not when it comes to the financial markets. This is because, in terms of financial markets, the huge ups and downs represent lingering ...

Mayfair 101 accused of misleading advertising

ELIZABETH MCARTHUR  |  MONDAY, 6 APR 2020
... The regulator also alleges Mayfair claimed the principal investment would be repaid in full on maturity, when investors may not receive capital repayments on maturity or at all, and because Mayfair could elect to extend the time for repayment for an ...

OneVue marks territory on Sargon sale proceeds

KANIKA SOOD  |  MONDAY, 6 APR 2020
... OneVue has asserted its vendors' lien over the sale of Diversa and CCSL. EY, as the voluntary administrator, has agreed not to distribute or deal with the total net proceeds of the sale until a further agreement is reached with OneVue or a court ...

Super funds probed on liquidity, rental assistance measures

KANIKA SOOD  |  MONDAY, 6 APR 2020
... already asked superannuation funds to submit their in-house modelling on the extent of withdrawals (to March 1 deadline). It did not publish the result, but put out a joint letter with ASIC reminding funds to take liquidity issues seriously. Further ...