More pain for banks as APRA overhauls related entity standard

The Australian Prudential Regulation Authority has conceded that its revised related entities standard may create difficulties for banks and other authorised deposit-taking institutions (ADIs). Prudential standard APS 222, Associations with Related Entities,…

People: board renewal at IOOF

Former ING Direct chief executive Vaughn Richtor has been appointed as a director of MyState Ltd. Richtor has extensive experience in banking, and following his role at ING Direct was chief executive…

Developing a Trumptweet investment strategy

On August 1, President Trump sent four tweets about China. With tweet three, which talked about additional tariffs on US$300 billion of goods exported from China to the US, Trump rocked markets…

Retirement income estimates have a ‘remarkable’ impact

The inclusion of estimates of lump sums and income streams at retirement in super fund member statements can have a significant impact on member behaviour, new research has found. Until recently, most…

Tough times in the comparison site market

After his first full year running comparison site company iSelect, chief executive Brodie Arnhold said the company had “stablilised” in 2018/19, after some difficult times. Stable maybe, but still in the red.…

TPB cracks the whip

The Tax Practitioners Board has stepped up its investigations into tax agents suspected of high-risk behaviour and it has terminated a number of registrations in recent months. In July the TPB reported…

Today’s Best Videos 

Household financial comfort declines

Australian household financial comfort has fallen due to the weakening labour market and the halt in income growth, according to ME Bank’s latest six-monthly Household Financial Comfort Index. Household comfort amongst employment significantly declined in the past six months, with…

Bendigo still fighting to recover Great Southern loans, still losing

Bendigo and Adelaide Bank has lost another case in its pursuit of outstanding loans taken out by investors in the failed agribusiness scheme operators Great Southern Plantations. In Bendigo and Adelaide Bank Ltd & Ors v Kenneth Ross Pickard &…

Montgomery fund downgraded

Morningstar has downgraded Montgomery Investment Management’s The Montgomery Fund to negative, with a recommendation that “Australian equity investors can find better alternatives.” The Montgomery Fund strategy is to buy high quality companies with strong growth prospects at cheap valuations. The…

People: CVC appoints new CEO

Private equity firm CVC has appointed Mark Avery as chief executive. He joined the company in 2010 as a property executive and prior to that was an investment manager at Lyons Capital and business development manager at Industrial Commercial Property…

Will business and consumer confidence converge?

Global consumer and business confidence have diverged, a trend that started in 2018. It is otherwise pretty rare, only occurring two other times over the last 30-plus years. These two sentiment factors previously diverged in the periods after the East…

ETF economies of scale an important consideration

Investors considering different exchange traded fund options will usually have a better outcome selecting a bigger ETF over a small one, according to new research. Morningstar has analysed the trading history of listed funds and found that big ETFs have…

Get ready for ‘consent management-as-a-service’

Data-related services will play an increasingly important part in the businesses of Australian financial institutions in coming years, as Open Banking takes hold. The passage of Consumer Data Right legislation last week has started a discussion about the impact the…