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Superannuation

Property promoter gets life ban and $1.1m penalty

Donald Maxwell, a promoter of illegal mezzanine fund schemes, has been ordered to pay $1.122 million in compensation and penalties and has been disqualified from providing financial services for life.

Compliance gets interactive: Vignette

Phone records, emails and reports are all great ways to keep up with compliance legislation but IT group Vignette has raised the bar by pushing web capture technology as a better alternative to monitor customer interaction and minimise fraud.

Contrarian managers make a comeback

KATE HAGE  |  WEDNESDAY, 18 OCT 2006
Active managers are falling behind their contrarian counterparts after Australian share managers turned in their worst quarterly performance since 1990, according to Intech Investment Consulting.

ASIC clearing guidlines will segment the service chain

KATE HAGE  |  WEDNESDAY, 18 OCT 2006
Superannuation clearing house providers will now have to provide employers with product disclosure statements (PDS) after a recent ASIC review found that they fall under the financial services licensing and Corporations Law disclosure provisions.

Agribusiness still appeals to lenders

WWW.THESHEET.COM  |  TUESDAY, 17 OCT 2006
Leaving aside the current crisis, bankers still see the rural sector as an attractive market.

INVESCO shores up fixed income with $280m global mandates

The local arm of global fund manager INVESCO is cementing its role in the global fixed income space after winning major mandates from Transport Workers Union (TWU) Super and ING Optimix.

Westpac appoints new REIT manager

Lianne Buck has left her post as fund manager of the newly launched Westpac Residential Property Trust (WRPT) and has been replaced through an internal promotion.

MLC forms succession team to work with practices

HAMISH MADDEN  |  TUESDAY, 17 OCT 2006
MLC has formed a dedicated succession planning team to assist advisers to plan for retirement and comprehensively manage all aspects of their business towards succession.

Dieters to chair FPA for another year

HAMISH MADDEN  |  MONDAY, 16 OCT 2006
Corinna Dieters will continue as chair of the Financial Planning Association (FPA) after being unanimously re-elected by the board.

Compare the home loan: Members Equity

HAMISH MADDEN  |  MONDAY, 16 OCT 2006
Building on the high profile 'compare the pair' industry funds advertising campaign, Members Equity Bank (ME) has kicked off its own campaign asking TV viewers to compare ME home loans with those from the four major banks.