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Steering through the cyber risk storm in financial services

iress/cybersecurity/WTW/data-breaches/

With US$4.45 million being the global average cost of a data breach in 2023 alongside the rapid explosion of AI, WTW has emphasised why governance efforts are critical in cyber risk management.

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FAAA’s Anderson: CSLR a ‘progressively exploding disaster’

Dixon-Advisory/AFCA/CSLR/complaints/

Phil Anderson, general manager for financial advice at the FAAA, believes the CSLR levy could reach $100 million if Dixon Advisory complaints are allowed to continue.

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ETFs break 6-month streak with FUM decline

BetaShares/ETFs/international-equities/exchange-traded-funds/

The ETF industry experienced $1.7 billion market cap decline in April, according to Betashares, even with positive inflows driven by international equities products.

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Iress strengthens security after cyber incident

iress/cybersecurity/data-security/

Iress has announced it is strengthening its security settings after suffering an unauthorised access of its systems over the weekend.

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Licensees hopeful of lower PI insurance with safe harbour change

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Proposed legislative changes to safe harbour duty could result in advisers having reduced professional indemnity costs, a joint submission by seven major licensees said.

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Avoiding the ‘Mundane Seven’: why the Ex-20 is a sweet spot for returns

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FAAA calls on Jones to address spiralling Dixon Advisory complaints

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The FAAA has called on Minister Stephen Jones to address the escalating costs of CSLR as Dixon Advisory complaints to AFCA approach 2,500 following an extension of its AFCA membership.

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MoU signed between AFCA and the CSLR

AFCA/CSLR/financial-advice/Dixon-Advisory/Dixon/

AFCA and the CSLR have signed a memorandum of understanding as to how they will support an efficient financial services sector via the scheme.

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What’s in a name? Perpetual to rename 138-year brand

funds-management/Perpetual/KKR/rebranding/

Money Management spoke with two brand consultants as to how Perpetual can best rebrand its business as the 138-year name is sold to private equity firm KKR.

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Weighing up the risks and benefits of self-licensing

AFSL/licensees/self-licensed/Adviser-Ratings/

With 66 per cent of newly established advice licensees being sole advisers, what are the risks and legal ramifications to consider when taking the plunge into self-licensing?

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