Endeavour Securities directors fined $390k by ASIC
Coporate watchdog ASIC has ordered four current and former directors of Endeavour Securities and Linchpin Capital Group to collectively pay $390,000 in penalties.
UniSuper’s Robert Hogg joins asset manager as group CIO
SG Hiscock & Company has appointed UniSuper talent Robert Hogg as group chief investment officer, taking over from executive chair Stephen Hiscock.
Vanguard wary of unlisted assets, but keeps door open
A year since its launch, Vanguard Super is pushing close to $1 billion of AUM and deems the result a success. Local boss Daniel Shrimski says demand is being driven by the fund sticking to what it does best: low-cost investing in liquid assets. But it hasn’t completely ruled out the possibility of following industry fund peers into unlisted assets.
‘Dedollarisation’ threatens to distort the bond market
As US foes ditch dollar-denominated assets to escape the reach of Washington’s financial sanctions, investors should expect more upward pressure on the world’s most consequential bond yields.
AFCA records over 100k annual complaints for the first time
The Australian Financial Complaints Authority has recorded 100,000 complaints in a calendar year for the first time, with the number of scam-related complaints almost doubling year on year.
CSLR board estimates $241m for initial levy
The board for the Compensation Scheme of Last Resort has provided a $241 million estimate of the initial levy to fund claims from eligible consumers who suffered from financial misconduct.
FAAA hires marketing and comms head
The Financial Advice Association has appointed John Summerhays as head of marketing and communications.
Investors should brace for even more geopolitical risk in 2024
A string of democratic elections in countries around the world are almost guaranteed to result more shocks to already volatile financial markets. Institutional investors face the unenviable task of trying to discern the impacts on asset valuations and their portfolios.
COP28 highlights role of emerging markets on path to net zero
Reflecting on her journey to Dubai to attend the historic COP28 climate change summit this month, JANA’s head of sustainability, Rachel Halpern, says there was a sense of real progress, especially among business delegates. But it was also clear trillions of dollars in capital must flow to emerging markets to make decarbonisation a reality.
Court finds OnePath did not breach duty of utmost good faith
The Federal Court has found that Zurich Australia did not breach its duty of utmost good faith when OnePath Life, the previous owner of Zurich’s life insurance business, avoided an income protection policy because the insured failed to disclose a prior history of hospitalisation for serious mental health issues.
First Nations financial groups launch scholarship program for women
First Nations Economics and First Nations Foundation have launched a $120,000 scholarship program to support women studying finance and business.
REST expands industrial property exposure
Industry fund REST has expanded its exposure to industrial property through a $1 billion partnership with investment manager Barings.
