The latest issue of Financial Standard now available as an e-newspaper
| | WEDNESDAY, 27 OCT 2021 12:28PMIn reviewing decisions made by super funds in relation to unlisted assets early last year, APRA has found an overreliance on external parties like fund managers and asset consultants by some, possibly to the detriment of members. It also found instances of chief investment officers spearheading valuation ...|
|The House of Representatives Standing Committee on Tax and Revenue has recommended that the Australian Tax Office develop a 'bill of rights' for taxpayers.|
|APRA has found instances of expenditure by superannuation funds that does not meet the best financial interests of members, including sponsorship deals and advertising spends with no evidence of member benefit.|
|The House of Representatives Standing Committee on Tax and Revenue has released a report aimed at overhauling Australia's corporate bond market.|
|A former Freedom Insurance director and consultant will head to Federal Court for their alleged involvement in aggressive sales tactics.|
|The Federal Reserve is restricting the investing activities of policymakers and senior staff, including banning them from holding or trading individual stocks and bonds.|
|Colonial First State will pay $20 million for misleading members in its FirstChoice Fund.|
|The regulator is seeking support from government to extent its product intervention powers on contracts for difference (CFDs) until they are revoked or sunset in 2031.|
|The corporate regulator has written to the chief executives of large public companies, large private companies and the trustees of superannuation funds to ensure their whistleblowing policies are compliant.|
|Commonwealth Bank finalised its three-year action plan by implementing recommendations from a prudential inquiry to improve its governance and culture. At the same time, it has been slammed with court proceedings for underpaying staff over $16 million.|
The September financial adviser exam pass rate was stable at 60% but continues to fall below the overall pass rate of 88.5%.
The House of Representatives Standing Committee on Tax and Revenue has released a report aimed at overhauling Australia's corporate bond market.
Future Fund's latest portfolio update shows the sovereign wealth fund is just shy of hitting $200 billion.
Share trading platform Superhero will take the $40 million it has raised this year to expand into New Zealand by mid-2022.
|Brought to you by|