Grandfathered commissions gone

The bill ending grandfathered conflicted remuneration was finally passed into law this week, with the new measures to take effect from 1 January 2021. The new law enables regulations to provide for…

KKR upsizes credit fund issue

Demand for credit funds has been strong this year, as retail investors chase higher yields. The latest fund to come to the market, the KKR Credit Income Fund, has increased its issue…

People: Frazis drafts Deloitte partner to help fix BOQ

Bank of Queensland has appointed Ewen Stafford as its chief financial officer (CFO) and chief operating officer. Stafford joins from Deloitte where is a partner in the banking and capital markets sector.…

Failing to pass on the full rate cut needn’t mean banks are profiteering

The unwillingness of the major (and other) banks to immediately cut their headline mortgage rates by as much as the Reserve Bank cuts its cash rate always attracts bad press, as well…

Grameen to launch local microfinance program

Grameen Australia, the local branch of the microfinance institution that started in Bangladesh in the 1970s, is preparing to launch its first microfinance project in this country. Grameen has been in Australia…

Australians no longer loyal to banks

The non-major banks are enjoying their highest share of new mortgage lending in 12 years, providing further evidence that more customers are comfortable switching financial products. Australian Finance Group’s (AFG) latest quarterly…

Today’s Best Videos 

Schroders fund closure signals bigger problems for small caps

Schroder Investment Management has decided to close its Australian Small Companies Fund following the departure of portfolio managers Marcus Burns and Matt Booker. The move is possibly a signal of generic problems facing small-cap managers in Australia…

SMSFs continue to defy so-called ‘gloom and doom’

It seems there’s never any shortage of SMSF critics. If it’s not the big end of town wanting to criticise their supposed lack of investment acumen (all the evidence to the contrary notwithstanding), then it is changes to the regulations that will suddenly see trustees throw their hands up in the air and say ‘it’s all too costly’ and head back to the bosom of the APRA-regulated funds…

Appointments: Jane Perry to chair FEAL, ipac departure, FIIG hire…

The Fund Executives Association Ltd has appointed Jane Perry as its next independent chair, replacing Neil Cochrane. Perry, who is a former chief executive of Qantas Super, will take up her role at FEAL in August…

Fintech startups get to showcase in Melbourne

Afiniation, a network of fintech startups and supporters, has signed up about 30 companies to present at its second annual fintech show, taking place at the Grand Hyatt in Melbourne on April 14…

Aussie enviro-tech firm taps into US$900b market

Environmental monitoring group Pacific Environment (ASX: PEH) is accelerating its international business activities outside Australia and the UK, opening up a potential $US900 billion market by signing new distributors in Spain, Singapore, Malaysia, Europe and the US…

Terminated: sub-scale ETFs closed down

ETF Securities Group has terminated 10 of its local funds, citing low investor take-up of the products. Trading in the securities was suspended at the close of trading last Wednesday…

Robo-advice and RMs: who’s really accountable?

Last week, ASIC announced some very sensible policy initiatives which at face value are encouraging but potentially rather limiting in practice…