Government has introduced a bill to Parliament to legislate the first stream of the QAR reforms.

Investment managers who plan to implement artificial intelligence in the next five years expect to see increased productivity, but views are mixed on whether it will boost revenue and assets under management.

A former corporate adviser has been sentenced in the Supreme Court of Western Australia for insider trading to realise a profit of more than $57,000.

AFCA has appointed a senior ombudsman specifically to specialise in Compensation Scheme of Last Resort complaints, with the scheme set to come into force on 2 April.

There is an opportunity for advice firms to improve their relationships with self-employed clients, as Business Health finds they report low satisfaction levels with their adviser’s performance.

Wealth Data analysis has seen a “significant jump” in gross revenue per financial adviser at eight ASX-listed financial advice licensees, and detailed the range between highest and lowest revenues.

Private markets expertise is sought-after for investment operations hires as allocations to alternative assets rise, according to a recruitment firm, but there is a gap between demand and supply.

AFCA has already received almost 70,000 complaints since the start of the financial year, and chief executive David Locke has warned this sustained high growth shows the industry is in a “new normal”.

Two reports have highlighted potential problems around the $4.9 trillion intergenerational wealth “tsunami”, particularly for women who are most likely to be a beneficiary.

Equity fund manager Platypus Asset Management, which is owned by Australian Unity, has appointed a new chief executive.