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New board member at EQT

ELIZABETH MCARTHUR  |  WEDNESDAY, 12 FEB 2020
... experience, high level legal and financial qualifications and a demonstrated commitment to governance in innovative commercial and not-for-profit organisations," said EQT chair Jeff Kennett. "We are very fortunate that Ms Robson's experience is combined ...

Custodial excellence recognised

HARRISON WORLEY  |  WEDNESDAY, 12 FEB 2020
The Australian Custodial Services Association celebrated excellence in custodial services yesterday, at the 2020 installment of its annual ACSA Awards during the Investment Operations Conference in Sydney. The association recognised HSBC regulatory ...

Product provider makes big FASEA promise

ELIZABETH MCARTHUR  |  WEDNESDAY, 12 FEB 2020
... then that is valuable to financial planners at the end of the day," Marshan said. However, he cautioned that advisers should not feel insulated against any compliance issues because they have chosen a product that claims to be FASEA compliant. "What ...

Problems persist with PYSP communication: ASIC

ELIZA BAVIN  |  WEDNESDAY, 12 FEB 2020
... member communication. However, there were some common problems with the material we reviewed, which suggested trustees are not always sufficiently focused on their members' needs," Press said. The regulator said come of the material it reviewed did not ...

VicSuper PM jumps for industry fund

ALLY SELBY  |  WEDNESDAY, 12 FEB 2020
... to implementation; and strong engagement and communication skills," he said. The VicSuper spokesperson said the fund would not be looking for a replacement. "Due to the expected merger between First State Super and VicSuper in mid-2020, we will not fill ...

Compensation bill hits $750m

ELIZA BAVIN  |  WEDNESDAY, 12 FEB 2020
... number of effected customers, at almost 2000 out of the 193,167 who have been offered compensation by the company. ASIC did not reveal all the statistics for Macquarie due to an agreed enforceable undertaking between the two parties allowing Macquarie ...

Chief economist update: It's the US consumer, stupid me

BENJAMIN ONG  |  WEDNESDAY, 12 FEB 2020
... virus that's currently infecting the world -- instead of the Mexican lager - among others. This time, I have every reason not to question Fed chair Jerome Powell's view. In his testimony before the US Congress' Financial Services Committee ...

Former licensee boss banned

JAMIE WILLIAMSON  |  TUESDAY, 11 FEB 2020
... with the law, failing to regularly audit its advisers and ensure they were adequately trained or competent. Spectrum also did not have sufficient human and technological resources to meet its licence obligations, ASIC said. "ASIC expects that people ...

Super fund reveals ASX 100 equality laggards

ALLY SELBY  |  TUESDAY, 11 FEB 2020
... with the highest scoring company being Stockland (95%). The report revealed that more than half of the companies analysed do not disclose their pay gap publicly. For companies wanting to improve equality, the report recommends that they be more transparent ...

Macquarie expected to fall short of 2019 performance

HARRISON WORLEY  |  TUESDAY, 11 FEB 2020
... Capital tallied 109 transactions across the globe in the third quarter, for a combined total value of $76.4 billion. While not as robust as its performance in the prior corresponding period, Macquarie pointed out that specific quarter was particularly ...