MLC Life hires remediation GM
MLC Life Insurance has appointed Ian Fletcher as general manager of remediation programs.
Dexus appoints CEO
Real estate asset manager Dexus has appointed Ross Du Vernet as CEO and executive director, effective from March 2024.
Why UK fund Railpen envies parts of the super system but not others
The Australian super system has done a marvellous job of accumulation that not many countries can rival, according to John Greaves from the £34 billion (A$65 billion) UK multi-client fund Railpen. However, the YFYS test is hardly an enviable component of the system for international peers.
Labor deserves credit for attempting advice reform
Minister for Financial Services Stephen Jones’ two-year campaign to find some solution for the millions of Australians priced out of financial advice has been far from perfect, and his bold plan for a two-tiered model demands scrutiny. But wrestling daily with one of the nation’s most complex legal problems, while balancing the interests of a slew of lobbyists within public and internal party critics, is no mean feat.
FSCP hands out first published banning order
The Financial Services and Credit Panel has published its first banning order against an adviser, on the grounds they are insolvent under administration.
NGS Super hit with additional licence conditions from APRA
APRA has imposed additional licence conditions on NGS Super over its lack of cyber controls.
CSLR board appoints inaugural CEO
The Compensation Scheme of Last Resort transitional board has appointed David Berry as inaugural CEO and Delia Rickard as a non-executive director, ahead of the scheme’s scheduled commencement in April 2024.
‘The right vehicle’: Super funds handed starring role in financial advice reforms
Minister for Financial Services Stephen Jones on Thursday gave the clearest indication yet he expects super funds to give more advice to more Australians, as he unveiled the government’s plan to implement much of the contentious Quality of Advice Review report. Mega-funds including AustralianSuper, UniSuper and Aware Super backed the package as a major win, but many other funds may be nervous about the new regime they have been thrust into.
‘Utter disaster’ to subject retirement products to YFYS-style benchmarks
A Your Future Your Super-style test for retirement income products would be “an utter disaster”, leading superannuation fund researcher Ian Fryer of Chant West has warned. The comments follow the release of Treasury’s discussion paper this week.
Super performance test shakeup on the card for government
The federal government has opened up to the idea of fine tuning the superannuation performance test, to account for member outcomes without holding back investment in economic priorities such as the net zero transformation and housing, following the third Treasurer’s Investor Roundtable in Canberra.
AFCA makes independent board appointment
The Australian Financial Complaints Authority has appointed Heron Loban to its independent board, effective from 1 January 2024.
Bravura promotes two to regional CEOs in global restructure
ASX-listed financial services software company Bravura Solutions has promoted Paul Dunn and Chris Spencer to CEOs of APAC and EMEA respectively.
