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Australian Prudential Regulation Authority

APRA action sees HESTA pay members over valuation decisions

Mike Taylor 19 November 2024

Big nursing sector superannuation fund, HESTA been required by the Australian Prudential Regulation Authority (APRA) to make payments to members impacted by valuation decisions.

APRA said HESTA had agreed to make the payments related to valuation decisions made by HESTA in March 2020 at the beginning of the COVID-19 pandemic.

CareSuper and MIESF to merge

Mike Taylor 19 November 2024

CareSuper and the Meat Industry Employees Superannuation Fund (MIESF) have taken the first steps towards a merger, signing a Heads of Agreement which would see members transfer to CareSuper.

In a statement issued today, the two funds said that, if completed, it would see 17,000 members and over $1 billion…

Red alarm clock with tick tock

Shape of DBFO Tranche 2 visible before Christmas

Mike Taylor 19 November 2024 3 Comments

Assistant Treasurer, Stephen Jones expects the DBFO exposure draft to be available before Christmas but a Federal Election is looming.

Mergers and acquisitions

AZ NGA still acquisitive post AMP deal

Mike Taylor 19 November 2024 No Comments

Paul Barrett’s AZ NGA has acquired StrategyOne Advice Network signalling that it is not done yet on making acquisitions post-AMP.

betashares platform

Betashares debuts Direct platform, touts brokerage-free trades

Patrick Buncsi 19 November 2024 No Comments

Betashares has unveiled its new investment platform giving retail investors access to popular ASX listed shares free brokerage fees.

Regulatory scrutiny

Super funds still shaping investments to performance test

Mike Taylor 19 November 2024 No Comments

New research from bfinance has confirmed super funds remain sensitive to the YFYS performance test in terms of fees and investments.

INDUSTRY NEWS

Fixed income markets: When the stars align

Financial Newswire Contributor 1 November 2024 No Comments

Fixed income markets offer compelling investment opportunities alongside continued lower inflation and central banks entering the easing cycle. 

3 Lessons from 20 Years of investing in Australian Equities

Financial Newswire Contributor 1 November 2024 No Comments

Successful investing in Australian equities requires finding high quality businesses and avoiding permanent capital loss. Here we show you how.

Reporting season podcast: temper your enthusiasm (slightly)

Financial Newswire Contributor 1 October 2024 No Comments

Companies tempered growth promises heading into 2025. Explore encouraging economic indicators and stocks we think have earnings growth potential.

Fixed income markets: When the stars align

Financial Newswire Contributor 1 October 2024 No Comments

Fixed income markets offer compelling investment opportunities alongside continued lower inflation and central banks entering the easing cycle.

Federal Court of Australia

NAB hit with ASIC action over tardy hardship support

Mike Taylor 18 November 2024 One Comment

ASIC has hit NAB with Federal Court action alleging the big banking group was tardy in dealing with 345 customer hardship support claims.

Tip of the iceberg

Cbus claims handling issues ‘tip of broader iceberg’

Mike Taylor 18 November 2024 2 Comments

Cbus is not the only superannuation fund facing scrutiny over claims handling with an expert describing it as the tip of the iceberg.

THumbs down

Accounting groups still firm on ending accountant certificates

Mike Taylor 18 November 2024 One Comment

The major accounting groups and the SMSF Association are standing firm on calls to end accountant certification of wholesale investors.

Active v Passive

Want active management? Choose wisely

Mike Taylor 18 November 2024 No Comments

The top quartile active managers have outperformed across multiple categories but investors need to choose wisely.

Difficult client

Risk insurance reviews

Col Fullagar 18 November 2024 2 Comments

Financial Newswire’s life/risk expert, Col Fullagar makes some helpful suggestions about wrangling clients ahead of insurance reviews.

MezFi launches today

Aussie fintech launches blockchain-backed mezzanine finance app

Patrick Buncsi 18 November 2024 No Comments

MezFi, a Melbourne-based fintech, has launched a new blockchain-backed investor platform providing exposure to the global mezzanine finance market.

podcast

Rest launches new video podcast to ‘debunk’ superannuation

Yasmine Raso 18 November 2024 No Comments

Rest has released a new video podcast to address the complexities surrounding super and increase financial awareness and education.

AFSLs cannot outsource responsibility for AI or digital fails

Mike Taylor 15 November 2024 3 Comments

ASIC’s action on Cbus has been cited by the minister as an example of the manner in which licensees cannot outsource responsibility.