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Australian Prudential Regulation Authority

APRA action sees HESTA pay members over valuation decisions

Mike Taylor 19 November 2024 6 Comments

Big nursing sector fund, HESTA has been required to make payments to members impacted by valuation decisions made ahead of Covid-19.

CareSuper and MIESF to merge

Mike Taylor 19 November 2024 No Comments

CareSuper and the Meat Industry Employees Superannuation Fund have signed a heads of agreement ahead of a merger/member transfer.

Red alarm clock with tick tock

Shape of DBFO Tranche 2 visible before Christmas

Mike Taylor 19 November 2024 4 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.

TWC launches new fund

New kid on the block IM targets big cap growth prospects

Patrick Buncsi 19 November 2024 No Comments

Boutique investment firm TWC has unveiled a new global equity strategy targeting companies at the early stages of their industrial lifecycle.

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.