Federal Court fines NAB $2.1m for unjust banking fees
The Federal Court has ordered NAB to pay a $2.1 million penalty for wrongly charging customers periodic payment fees.
Four steps for super funds to meet the retirement challenge
To adopt best practice in retirement, super funds need to make it a top priority, resolve their organisational structure, implement strong executive-level leadership and consider the creation of a retirement committee.
APRA announces proposed updates to SPS 515
APRA is updating Prudential Standard SPS 515 Strategic Planning and Member Outcomes (SPS 515) to drive better outcomes for superannuation members in areas such as trustee expenditure of member funds, management of financial resources, and the transfer of members in and out of funds.
New reporting standards nature related investments gives confidence to investors
New reporting recommendations that will make it easier to assess companies’ treatment of nature-related risks have been welcomed but are likely to involve a steep learning curve for institutional investors and companies alike, with even more onerous reporting possible down the line.
HESTA welcomes Victoria’s 2024-34 Housing Statement
Industry super fund HESTA has welcomed the Victorian Government’s 2024-34 statement on housing and the partnership approach to foster the conditions necessary to stimulate investment and expedite the construction of high-quality homes.
Global housing resilient amid inflation surge: UBS Report
The world’s housing markets have displayed remarkable resilience in the face of a global surge in inflation and interest rates, according to the UBS ‘Global Real Estate Bubble Index 2023’.
ASIC sues crypto exchange Kraken for DDO failures
ASIC has commenced civil penalty proceedings in the Federal Court against Bit Trade, the provider of the Kraken cryptocurrency exchange to Australian customers.
MLC Life launches adviser discounts
MLC Life Insurance has launched a campaign called “It’s not a miscount” to promote its new business pricing, including discounts that are available to retail customers through their adviser.
New adviser registration requirement delayed to 2024
ASIC is extending the date by which financial advisers must be registered to 1 February 2024, due to the relevant legislation being stalled in Parliament.
Interactive Brokers pays $832k penalty for ‘negligent’ and ‘reckless’ conduct
Interactive Brokers Australia has paid a penalty of $832,500 to comply with an infringement notice from the Market Disciplinary Panel.
iFactFind and Voyant integrate services
Fintech start-up iFactFind and global financial planning technology company Voyant have integrated their tech services to facilitate client data transfer, enhance connectivity, and drive business efficiencies.
Steering clear of human-induced global greenwashing
Countries and regions around the world are all grappling with greenwashing. Taxonomies, frameworks, regulations, pathways and guidance are rolling off different production lines around the globe and asset owners are hoping for convergence towards to a universal platform so investors can avoid accidental greenwash collisions.
