ASIC gains court order for iExtend to apply for an AFSL
ASIC has accepted a court enforceable undertaking from iExtend after investigating concerns it was operating a financial services business without an Australian Financial Services Licence.
Mercer fined $12 million for fee disclosure failures
The Federal Court has ordered Mercer Financial Advice pay a $12 million penalty after being found to have failed in its fee disclosure obligations and charging fees to customers it was not entitled to charge.
MLC Life hires three in distribution team
MLC Life Insurance has made three appointments in its northern region retail distribution team.
ASFA names former HESTA executive Mary Delahunty as CEO
The Association of Superannuation Funds of Australia has appointed former HESTA executive Mary Delahunty as CEO.
Rest commits $1 billion to green data centres
One of Australia’s largest industry super funds, Rest, has invested $1 billion in green data centres via renewable and clean energy infrastructure manager Quinbrook Infrastructure Partners, committing to further the sustainable digitisation progress.
AusSuper CIO: Market ‘too pessimistic’ about China’s economy
Mark Delaney, chief investment officer of mega-fund AustralianSuper, thinks the current media and market narrative around China’s supposed structural decline is “too pessimistic”. At the fund’s annual meeting on Tuesday, he told his members why China will “do a bit better than people anticipate” and portfolio managers shouldn’t write off the emerging market just yet.
Coredata appoints Dean Thomas as APAC head
Coredata Research has appointed Dean Thomas as CEO of CoreData APAC.
High emitters ‘a part of the solution’ for net zero: Robeco
Investors who think the world can get to net zero by not funding high emitters are not seeing the full story, according to sustainable index leader, Frank Wirds, at the $297 billion asset manager Robeco. During a keynote speech at the Fiduciary Investors Symposium, he said companies with high carbon footprints are a “part of the solution, not only the problem”.
The best of financial planning in Australia recognised at inaugural FAAA Awards
The Financial Advice Association Australia (FAAA) has announced the 2023 winners of the inaugural FAAA Awards across six professional categories.
Super Members Council announces inaugural CEO
Political journalist and industry association leader Misha Schubert has been named as the first ever CEO of the Super Members Council of Australia, which was formed by the merger of AIST and Industry Super Australia.
Super complaints continue to rise, fuelling customer service crackdown
Industry super funds are under immense pressure to rethink their traditional low-cost operating model as their loyal members now demand significantly more service – and the government and regulators are prepared to wield a big stick.
Total super assets hit $3.56 trillion in September: APRA
Australia’s total superannuation assets have increased 8.5 per cent year on year to $3.56 trillion in September 2023, according to the latest quarterly figures from the Australian Prudential Regulation Authority (APRA).
