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.
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.
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.
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.
Chair of ASX-listed financial advice licensee Centrepoint Alliance, Simon Swanson, has resigned effective immediately, after taking over the role in August last year.
Coporate watchdog ASIC has ordered four current and former directors of Endeavour Securities and Linchpin Capital Group to collectively pay $390,000 in penalties.
SG Hiscock & Company has appointed UniSuper talent Robert Hogg as group chief investment officer, taking over from executive chair Stephen Hiscock.
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.
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.
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.
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.
The Financial Advice Association has appointed John Summerhays as head of marketing and communications.
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