ASIC deputy chair Sarah Court says “competition among super funds for new members” inspired allegedly misleading claims by Active Super about its exposure to tobacco, fossil fuel and Russia-domiciled investments. The regulator has commenced legal proceedings against the fund formerly known as Local Government Super as part of its crackdown on greenwashing.
Equity Trustees will soon combine its superannuation and corporate trustee services, to further simplify its business structure.
Australia is the sixth most cyber-breached country in the second quarter of 2023, according to the latest research study from VPN service Surfshark.
The median balanced option delivered a return of 1.5 per cent in July, according to estimates from superannuation research house SuperRatings.
The federal opposition has doubled down on its controversial policy to allow consumers to access their retirement savings to purchase residential real estate, while simultaneously arguing super should be protected and preserved.
Sharing the stage with ASIC at the Conexus Financial Retirement Conference, APRA has maintained its hardline stance after lashing superannuation trustees only weeks ago for not fulfilling their obligations under the Retirement Income Covenant. The message is clear: shape up or move members to somewhere else that can effectively service retirement needs.
Product registration firm APIR Systems has reported a surge in registrations of new financial products, especially managed accounts, in financial year 2023.
Fund researcher Lonsec has appointed Nathan Lim as CIO and executive director of Lonsec Investment Solutions, the group’s investment division.
Islamic Finance provider Hejaz Group has launched the Hejaz Islamic Super and Pension, the first account-based Islamic pension product to be directly offered to consumers in Australia.
Advice technology company Ignition Advice has appointed Darren Speirs as business development director for the Asia Pacific region.
Insurance company LifeBid has launched an equity raising campaign with crowdfunding platform Stride Equity.
Boutique investment house Prime Value Asset Management has appointed Nathan Wares and Kate Mulham as head of distribution and head of marketing and communications, respectively.
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