John Kavanagh
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ASIC asks mortgage brokers: Is your panel good enough?

Mortgage brokers will be required to satisfy themselves that recommending from within their lender panel is in the consumer’s best interests. And they should be able to make a “holistic” assessment of other credit products packaged with a home loan…

Equity gearing making a comeback

After a decade of decline, prospects for margin lending and other equity investment gearing products may be looking up. The latest data shows a pickup in lending and a well-known stockbroking firm has made a significant investment in geared equity…

TPB’s CPE plan questioned

The Tax Practitioners Board is considering an increase in the minimum number of continuing professional education (CPE) hours required for all tax practitioners to 40 hours a year. The TPB hopes to hope to align its requirements with FASEA’s CPD…

Investment research houses to merge

Two investment management research houses are set to merge, with Zenith Investment Partners announcing that it has entered into an agreement to purchase Chant West’s superannuation research and consultancy business. The deal, which is subject to Chant West shareholder approval,…

FASEA approves more courses

The Financial Adviser Standards and Ethics Authority (FASEA) has approved coursework from two industry association and two university bridging courses, in the latest update of its list of approved courses. As part of its education standards for financial advisers, FASEA…

ASIC gets a bigger sandbox

The Australian Securities and Investments Commission will have greater flexibility in its administration of the fintech sandbox regulatory licensing exemption, following the passage of legislation last week. The regulatory sandbox is designed to allow companies to test new and innovative…

360 Capital on a roll

360 Capital Group has entered into a binding agreement to acquire Ralton Asset Management, a managed accounts specialist. It is one of several deals the increasingly active investment company has done in recent months. Ralton will continue to operate its…

Show some emotion, Vanguard tells planners

When Vanguard asked investors what attributes contributed most to the value they put on their relationship with their financial adviser, the most important were: • plan monitoring; • Trust; • Connected; • investment expertise; • time delegation; • Prepared; •…

Planners on notice

Almost a third of consumers and half of small business owners are considering either changing their current financial planner or ceasing to use one altogether, according to new research. Respondents to the MetLife Adviser-Client Relationship Report 2019 cited high fees,…

ASIC licensing and banning powers beefed up

Recommendations of the 2016 ASIC Enforcement Review Taskforce that the regulator’s powers be strengthened have finally been put into legislation, with the passage of a bill last week that strengthens ASIC’s licensing powers and extends its banning powers. It also…