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Unfair contract terms extended to insurance

KARREN VERGARA  |  FRIDAY, 2 AUG 2019
... contracts from UCTs where it is appropriate for financial products and services contracts. The proposed new UCT regime will apply to insurance contracts covered by the Insurance Contracts Act. Among the other changes, third-party beneficiaries of an ...

Industry super fund discounts investment fees

KARREN VERGARA  |  TUESDAY, 30 JUL 2019
... Investment fees for the balanced growth option will reduce from 0.69% to 0.66% per annum. The change in investment fees will also apply to the following: conservative growth (from 0.51% to 0.47% pa), international shares (0.85% to 0.75% pa) and high ...

Julie Bishop headlines AFA conference

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 JUL 2019
... presenters has something unique to offer and will provide delegates with insights and/or equip them with skills they can apply when they return to their practices." He explained that the conference has been designed to offer advisers and paraplanners ...

Portfolio manager caught out faking returns

KANIKA SOOD  |  FRIDAY, 19 JUL 2019
... order, Rege agreed to a cease-and-desist order, an associational bar and investment company prohibition with a right to apply for re-entry after three years, disgorgement of ill-gotten gains of US $600,000 plus prejudgment interest and a civil penalty ...

Super fund invests through RateSetter

ELIZABETH MCARTHUR  |  TUESDAY, 16 JUL 2019
... RateSetter platform to specifically fund renewable energy loans. RateSetter is a peer-to-peer lender that allows people to apply for loans or alternatively front up the money for loans and receive a fixed interest rate over a number of years for their ...

APRA sticks to rigid member outcomes deadline

KARREN VERGARA  |  FRIDAY, 12 JUL 2019
... and choice products, including the timing and publication of the assessments and data sources. RSEs have the discretion to apply the 12-month outcomes assessment period either to the calendar or financial year, income year for the RSE licensee or any ...

NEOS upgrades super product

KARREN VERGARA  |  THURSDAY, 11 JUL 2019
Enhancements to NEOS Life's superannuation product Super Plan are helping customers apply for cover in a fraction of the time. When applying for the risk-only superannuation product, a customer's identity is validated and automatically matched with ...

Sydney advice firm loses AFSL

KANIKA SOOD  |  FRIDAY, 5 JUL 2019
... professional indemnity insurance and their dispute resolution system until 31 December 2019 despite the cancellation. It may apply to the Administrative Appeals Tribunal for a review of ASIC's decision, subject to timing.

Responsible investments outperform mainstream

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 JUL 2019
The latest Benchmark Report by the Responsible Investment Association of Australasia (RIAA) shows responsible investment funds outperform most mainstream funds. Using KPMG data, the report shows responsible funds on average deliver higher returns across ...

APRA warns trustees on PYSP deadline breach

KARREN VERGARA  |  WEDNESDAY, 3 JUL 2019
... legislation at the product level application or the fixed-term insurance issue must provide details of how it intends to apply the law. If a significant breach has occurred or will occur, APRA said a trustee must ensure it follows its standard breach ...