APRA retires two prudential practice guides for insurers
APRA has retired two prudential practice guides for general and life insurers as it looks to consolidate the regulatory framework.
‘Get act together’ on decumulation, ex-ASIC commissioner warns
Delivering effective financial advice and retirement income solutions to members is critically important, says former ASIC commissioner Danielle Press in her first interview since leaving the regulator. Decumulation is tricky, Press admits, but says fund execs are smart people and super funds are big businesses, so they have few excuses to get it right.
Risks facing investors in 2024 could test claims of soft landing
Investors face a plethora of risks in 2024 so it will be interesting to see how credible Janet Yellen’s declaration that the US economy has achieved a soft landing looks at year end, and to know what became of the asset rally fanned by such hopes as the year opened.
Former UniSuper CEO Kevin O’Sullivan joins the CSLR board
Former UniSuper CEO Kevin O’Sullivan has joined the Compensation Scheme of Last Resort transitional board as a non-executive director, ahead of the scheme’s scheduled commencement in April.
Charity development fund appoints JANA as asset consultant
Religious charitable development fund Uniting Financial Services (UFS) has appointed asset consultancy JANA to advise its investments.
Sequoia appoints WA/SA state manager
Sequoia Financial Group has appointed Bernie Fernandes as the state manager of Western and South Australia.
Climate report for funds on the horizon with draft legislation
Super funds will need to bring climate-related reporting onto the top of their agenda as many will soonbe required to provide an audited sustainability report, according to draft legislation released by the Treasury on Friday.
HESTA’s Blakey says YFYS tweaks will unleash investment innovation
HESTA CEO Debby Blakey says a review of the YFYS performance test, announced at the exclusive investor roundtable held by the Treasurer last year, aligns the government and funds on freeing CIOs from benchmark-hugging and becoming more innovative with investments.
FAAA backs changes to financial adviser exam
The Financial Advice Association Australia (FAAA) has backed the government’s proposed changes to the financial adviser exam, including making the exam completely multiple choice, removing restrictions on who can sit the exam, and allowing students to sit the exam at a stage that is suitable for them.
Emboldened oil and gas sector won’t commit to climate transition
Oil and gas companies will view the COP28 outcome as giving them permission to continue to seek approval for new projects while claiming incorporating mitigation technologies into these projects is a credible transition plan. When a company has clearly chosen not to be part of the climate solution, asset owners need to be bold – and even use their combined voting power to seek to changes the board.
Fiduciary duty must be protected from both sides of politics
The latest thought bubble from the federal Coalition to cap ownership of public companies by super funds undermines its criticism of the government for urging funds to back national causes like decarbonisation and housing affordability. CIOs and their teams must be freed from the serious danger of ideological interference by both sides.
Centrepoint chair resigns after four months in the role
Chair of ASX-listed financial advice licensee Centrepoint Alliance, Simon Swanson, has resigned effective immediately, after taking over the role in August last year.
