Q3 sees plenty of ASIC bans and court action

banning/ASIC/court/complaints/breaches/

| By Rhea Nath |

The last three months have seen at least three high-profile court cases involving adviser misconduct, keeping the corporate regulator on its toes to wrap up a busy quarter.

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banning

ASIC

court

complaints

breaches

AUTHOR

Rhea Nath

Rhea L Nath is a journalist at Money Management. She has previously worked as a business reporter with Dynamic Business and journalist in the multicultural media with Indian Link Media Group. In 2022, she was named Young Journalist of the Year at the NSW Premier’s Multicultural Communications Awards.

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Could banks move into the retirement space?

banks/decumulation/EY/retirement/Hayne-Royal-commission/

| By Laura Dew |

Financial planning

EY believes there is a benefit for banks in returning to the wealth space and developing decumulation products for consumers entering retirement.

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banks

decumulation

retirement

Hayne Royal commission

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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ASIC prosecution referrals plunge by half since 2019

ASIC/prosecution/legal/andrew-bragg/

| By Laura Dew |

Policy & Regulation

The Senate economics reference committee has shared data from the Commonwealth Director of Public Prosecutions on the number of prosecutions referred to it by ASIC in the last financial year.

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AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Why are fund managers reluctant to discuss Voice referendum?

indigenous-australians/first-nations/RIAA/

| By Rhea Nath |

Funds management

Growing public sentiment has seen Australia’s corporate world and super funds venture into conversations around the Voice to Parliament, but it appears fund managers are more reluctant to reveal their stance.

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indigenous australians

first nations

RIAA

AUTHOR

Rhea Nath

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RBA's Bullock makes first rate decision

RBA/Phil-Lowe/monetary-policy/interest-rates/

| By Laura Dew |

Funds management

In her first meeting as RBA governor, Michele Bullock has made the monetary policy decision on the monthly cash rate.

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AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Government releases $3m super tax reform draft legislation

Superannuation/taxation/treasury/

| By Rhea Nath |

Superannuation

The Federal Government has released exposure draft legislation towards doubling the concessional tax rate for super balances exceeding $3 million.

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Superannuation

taxation

treasury

AUTHOR

Rhea Nath

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The biggest people moves of Q3

hires/exit/appointments/people-moves/

| By Laura Dew |

People & Products

Money Management collates the biggest hires and exits in the financial services space of the last three months.

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AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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First QAR draft legislation just weeks away: Jones

BT/Stephen-Jones/financial-advice/quality-of-advice-review/

| By Laura Dew |

Financial planning

Draft legislation on the first stream of the Quality of Advice Review reforms is expected to be released 'within weeks', according to Minister for Financial Services, Stephen Jones.

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Stephen Jones

financial advice

quality of advice review

AUTHOR

Laura Dew

Laura Dew is editor at Money Management. Prior to joining MM, she spent five years working at Investment Week in the UK, covering asset and wealth management.

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Record exam results boost adviser growth

Wealth-Data/new-entrants/financial-advice-exam/licensees/

| By Jasmine Siljic |

Financial planning

Following a 73 per cent pass rate in the August financial adviser exam, the highest since ASIC took over its administration, a high number of new entrants have joined the advice industry this week, according to Wealth Data.

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Wealth Data

new entrants

financial advice exam

licensees

AUTHOR

Jasmine Siljic

Jasmine Siljic is a journalist at Money Management. Prior to joining MM, she also worked across other Momentum Media brands as an intern and cadet journalist. She recently completed a Bachelor of Media and Communications at Macquarie University.

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Which platforms saw double-digit FUM rises in FY23?

platforms/FUM/mercer/Plan-For-Life/HUB24/netwealth/BT/praemium/macquarie/

| By Rhea Nath |

People & Products

While retail market leaders like Insignia had moderate increases, there were at least five platforms with significant rises in the last financial year, including BT’s $35 billion worth of business transitioning to Mercer.

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