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Stephen Jones confirmed as financial services minister

CASSANDRA BALDINI  |  WEDNESDAY, 1 JUN 2022
Stephen Jones has today been sworn in as assistant treasurer and minister for financial services, replacing Jane Hume who had overseen the financial services portfolio since 2019. Jones has served as shadow financial services minister since 2019 and ...

Spirit Super member data exposed after security attack

ANDREW MCKEAN  |  MONDAY, 30 MAY 2022
... security. Some measures already implemented include increasing identification steps on the accounts of impacted members and a block to payments from these accounts. "There is minimal risk of identity theft or fraud as a result of the limited data set ...

No place for crypto in insto portfolios: PGIM

JAMIE WILLIAMSON  |  FRIDAY, 20 MAY 2022
PGIM has made clear its thoughts on cryptocurrency, labelling it 'portfolio kryptonite' and saying it adds little to institutional investment portfolios other than a whole lot of risk. In its latest Megatrends paper, investment professionals from across ...

Tesla axed from the S&P 500 ESG index

ANDREW MCKEAN  |  THURSDAY, 19 MAY 2022
... Hence, Tesla joined Berkshire Hathaway, Johnson & Johnson and Meta as some of the big names on the ESG indexes chopping block. The decision to remove Tesla from the index is perplexing as the company has outwardly said its mission is to "accelerate the ...

ANZ stablecoin amplifies changing operating models

ANDREW MCKEAN  |  WEDNESDAY, 4 MAY 2022
ANZ has seized the opportunities afforded to it by global digital currency adoption and created the first Australian-bank-issued stablecoin with positive results. Having only recently minted its first stablecoin, ANZ has already found several key elements ...

Regulators release crypto, cyber security roadmaps

CHLOE WALKER  |  THURSDAY, 21 APR 2022
The prudential regulator has set out in a letter its initial risk management expectation for individuals that engage in activities associated with crypto assets, as well as a policy roadmap for the future. In particular, APRA expects that all regulated ...

Millennial super fund fails to GROW

JAMIE WILLIAMSON  |  TUESDAY, 19 APR 2022
Almost five years to the day that it first launched, GROW Super will close its doors. Diversa Trustees, the trustee for GROW Super, has informed members it is closing the product. Since its launch in 2017, GROW Super has been touted as a serious competitor ...

Janus Henderson launches net zero ETF

ELIZABETH MCARTHUR  |  WEDNESDAY, 30 MAR 2022
Janus Henderson has launched the Janus Henderson Net Zero Transition Resources Active ETF (Managed Fund) (ASX: JZRO) in Australia. It's the third active ETF the manager has launched in Australia and invests in a global equity portfolio of resources ...

Millions to receive tax offset

TOM WATSON  |  TUESDAY, 29 MAR 2022
... and the 32.5% rate will be cut to 30% for all incomes between $45,000 and $200,000," director of tax communications at H&R Block Mark Chapman said. Away from the personal tax front, the budget also contains a number of new initiatives aimed at Australian ...

ANZ becomes first Australian bank to develop stablecoin

CHLOE WALKER  |  FRIDAY, 25 MAR 2022
ANZ has made history with the first ever Australian bank-issued stablecoin payment, pegged to the Australian dollar, through a public permissionless blockchain transaction. The stablecoin transaction was successfully completed for Victor Smorgon Group ...