The latest issue of Financial Standard now available as an e-newspaper
|APRA is set to name and shame the superannuation funds that straggle in releasing member's money to them as part of the early release scheme.|
|The prudential regulator has been questioned over super fund liquidity concerns by the Senate Economics Committee.|
|The Federal Court has restricted Mayfair 101 from promoting its debenture products and prohibited the use of specific words and phrases in its advertising.|
|An AFSL holder asked the court to review its entreaty to ASIC to waive industry funding levy for services that it was licensed to offer but did not.|
|A former financial services executive in the US has been charged with orchestrating a bribery scheme that saw him funnel at least $4 million to the Ghanaian government to gain their approval to build and operate an electrical power plant.|
|The Australian Financial Complaints Authority (AFCA) will provide a nine-day extension to consumers, small businesses and financial services firms to respond to complaints amid the COVID-19 crisis.|
|The corporate regulator is warning companies keep their control framework in-line when working from home, after control failures led a betting agency to open a market covering the performance of the S&P/ASX 200 index.|
|ASIC has been forced to delay several major pieces of its regulatory workload in order to effectively deal with the challenges of COVID-19.|
|Simon Poidevin has been banned from financial services for five years, with the Administrative Appeals Tribunal upholding ASIC's action.|
|ASIC has announced three temporary measures to assist the industry with providing affordable and timely advice during the COVID-19 crisis. It has also confirmed it is delaying its work on grandfathered conflicted remuneration and life insurance advice.|
There is a good chance the planned superannuation guarantee increase to 12% will be deferred again as the nation continues to struggle with the effects of COVID-19, according to Mercer senior partner David Knox.
BetaShares' ETF that tracks crude oil futures is once again changing the length of contracts it tracks and is taking extra measures to automatically convert the ETF to all cash if oil futures drop significantly again.
The global fund manager saw its profits tumble 196% following net outflows of close to $19 billion in the first half of this year, resulting in heavy hits to fee and commission income.
Chi-X TraCRs and funds will now be offered on a privately owned wealth management platform, granting financial advisers and their clients access to some of the world's biggest listed companies.
|Brought to you by|
|Keep up to date, don't be the last to know! Get the Financial Standard Daily Newsletter.|