APRA names and shames underperforming super funds

The Australian Prudential Regulation Authority (APRA) will be looking for significant change from poorly performing superannuation funds, following the release of its MySuper heatmap. APRA’s heatmap of over a hundred MySuper products…

New Investor is being transformed

When you see our publication in your inbox or social media feed in the New Year it will have a new name. Next week, on December 18, we will publish our last…

APRA approves IOOF’s acquisition of OnePath

The Australian Prudential Regulation Authority has approved the sale of ANZ’s OnePath Pensions and Investments business to IOOF Holdings, bringing to a conclusion a transaction that has been in train for two…

People: UBS global trading head moves to BTIG

Investment bank BTIG Australia has appointed Andrew Dalgleish as chief executive officer. He joins from UBS where he has been for the last 13 years in a variety of senior roles. Dalgleish…

Limiting cash payments to $10,000 is more dangerous than you might think

We are used to being able to pay for things with legal tender. Other than in special circumstances, refusing to accept cash can have legal consequences. The Currency (Restrictions on the Use…

ETF investors getting active

Investor preference is changing towards active exchange traded funds (ETFs) according to a new study. The latest Betashares/Investment Trends ETF Report found that 32 per cent of investors intend on investing in…

Today’s Best Videos 

Mortgage broker best interests duty bill introduced

The Government has taken action on its promise to introduce a best interests duty for mortgage brokers, tabling a bill in Parliament last week that addresses conflicted remuneration and requires mortgage brokers to act in the best interest of consumers.…

ASIC approach to adviser code welcomed

The Australian Securities and Investments Commission has followed up its announcement that it will grant relief from the requirement for financial advisers to comply with the financial adviser code of ethics, giving details of the steps AFS licensees must take…

Insurance in super reg changes

Superannuation funds will have to ensure that members can “easily opt out” of insurance cover, under changes to the rules covering insurance in super. The Australian Prudential Regulation Authority has released proposed revisions to its standard covering insurance in superannuation…

People: King puts retirement on hold to lead Westpac out of crisis

Westpac chief financial officer (CFO) Peter King will step in as chief executive after the ignominious exit of Brian Hartzer. King has been with Westpac for over 15 years and has been CFO since 2014. Earlier this year he announced…

We’re delaying major life events and our retirement income system hasn’t caught up

Asked to conduct an independent review of Australia’s retirement income system, the panel appointed by treasurer Josh Frydenberg reported on Friday that it was all tied up with the family home. At every age range, Australians have more money saved…

Property fund merger off, questions remain unanswered

Australian Unity Office Fund (AOF) and CHAB Office Trust have terminated their scheme implementation agreement, after AOF unitholders knocked back resolutions at a scheme meeting. Under the proposed scheme, CHAB would have acquired all the units in AOF – an…

Gaps appear in the Retirement Income Review

The Retirement Income Review panel appears unlikely to address whether the value of the family home should be included in the means test for the Age Pension. Nor is it clear that it will address the hotly debated issue of…