Australia’s largest super fund has been taken to court by the corporate regulators over failures to implement proper procedures to identify members holding multiple accounts within the fund. The misconduct, which was self-reported to the regulators, covers almost a decade of lack of oversight affecting approximately 90,000 members.
Ten major forestry companies – responsible for overseeing nearly 9 million hectares (22 million acres) of forests across 27 countries – have united as the International Sustainable Forestry Coalition to address climate change, biodiversity loss, and deforestation.
Hybrid advice business Life Sherpa has partnered with OpenInvest to launch a managed investment portfolio solution for lower balance accounts.
Life insurer TAL has launched the Risk Academy Client Care Series, designed to provide advisers with tools to support their clients’ mental health and well-being.
BlackRock Australia is set to introduce the iShares U.S. Treasury Bond (AUD Hedged) ETF (IUSG) later this month, with a fee of 15 basis points.
Colonial First State has announced the “next generation” of managed accounts to its new Edge platform, the CFS Edge Accelerate Series, which will be available later this year.
The Council of Australian Life Insurers has launched a program called the ‘ReCALIbrate: A Chance For Women to Reshape Life Insurance’ to help get more women into risk advice.
The $85 billion industry fund Cbus has made several executive appointments across its investment, strategy, transformation, and operations divisions.
Parliament yesterday passed legislation to implement the so-called Financial Accountability Regime. Under the new rules, superannuation and insurance executives will be required to act with honesty and integrity, while 40 per cent of some large variable bonuses will be deferred. Breaching them could result in disqualification or even individual civil penalties.
Global asset servicing firm Northern Trust has appointed Aisling Keane as head of asset servicing for its operations in Hong Kong.
Regulators around the world, including the Australian Prudential Regulation Authority, are right to be closely monitoring the multitrillion-dollar surge of investors into private assets over the past decade. Criticism over local funds’ investment in tech darling Canva follows a spate of private equity transactions that have raised important asset allocation questions.
National dealer group Spark Financial has partnered with platform Oko Advisers and client software Voyant to help its financial advisers offer sustainable investment options and enhance their ability to manage practice finances effectively.
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Investment Magazine provides in-depth, monthly analysis of trends and developments for all the businesses in which superannuation funds engage‚ including asset allocation, investment manager selection, custody and fund accounting, member administration, group insurance and compliance.
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