The latest issue of Financial Standard now available as an e-newspaper
|The prudential regulator is cracking down further on the superannuation funds that failed the performance test, chair Wayne Byres warned this morning.|
|The draft legislation on superannuation portfolio holdings disclosure is not in the best financial interests of members and only stands to serve rival fund managers to whom the reforms don't apply, according to AustralianSuper.|
|The government has welcomed the corporate regulator's plan to establish a unit with the sole aim of reducing regulatory costs for businesses and consumers.|
|The federal government is rolling out its plan to increase the international competitiveness of Australia's managed funds sector.|
|After breaching his ASIC banning order, a former financial adviser is facing criminal charges.|
|The prudential regulator released its final standard for remuneration across superannuation, banking and insurance which could see individuals lose their bonus in the event of poor risk conduct.|
|The federal government is expecting ASIC to tone down its regulatory powers even though the Hayne Royal Commission exposed its ineffectiveness at enforcing corporate law.|
|The big four bank has been ordered by the Federal Court to pay $18.5 million for misleading fee disclosure statements in relation to personal financial advice - well short of the penalty ASIC was pushing for.|
|The corporate regulator will be focusing on economic recovery, reducing consumer harm, cyber security and industry compliance over the next four years in order to strengthen the financial system.|
|ASIC has ordered Westpac to pay a $10.5 million fine after the High Court's decision that found two Westpac subsidiaries provided unlicensed personal financial advice.|
Australian Ethical introduced a new high conviction fund to wholesale clients, investing in a range of sectors including local healthcare, renewables and technology stocks within the S&P ASX 300.
The super industry is calling for mandated consistency on portfolio holdings disclosure after it was recommended the Future Fund be exempt from disclosing commercially sensitive information.
Capstone Financial Planning has revoked the authorisation of Mark Babbage, the Victorian financial adviser jailed for breaching Western Australia's strict border restrictions to attend the AFL Grand Final.
Ellerston Capital will terminate the Morphic Global Opportunities Fund later this month as a result of dwindling funds under management.
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