RBA’s Bullock makes race day rate call

RBA/interest-rates/cash-rate/rate-hike/

| By Jasmine Siljic |

RBA governor Michele Bullock has made her second monetary policy decision for the monthly cash rate on Melbourne Cup Day, while Treasurer Jim Chalmers offers an update on the RBA review and appointment of a deputy governor.

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RBA

interest rates

cash rate

rate hike

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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Unpacking the label of a ‘micro-AFSL’

WT-Financial-Group/Keith-Cullen/principals-community/AFSL/licensees/

| By Rhea Nath |

Financial planning

An emerging debate has looked at whether self-licensed firms should be differentiated by virtue of their scale compared to institutional licensees and dealer groups when they carry the same regulatory obligations.

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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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Former ASIC chair rejects FAAA idea of ‘priority hotline’ for advisers

ASIC/FPA/

| By Laura Dew |

Financial planning

A “priority hotline” between professional associations and ASIC, as suggested by the Financial Advice Association of Australia, would damage the regulator’s independence, according to former ASIC chair Tony D’Aloisio.

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ASIC

FPA

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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AFCA opens consultation on financial advice complaints

AFCA/financial-advice/complaints/

| By Laura Dew |

Financial planning

The Australian Financial Complaints Authority has opened a consultation into how it determines compensation for complaints involving financial advisers.

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AFCA

financial advice

complaints

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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A torrid timeline of Sterling Income Trust

Sterling-Income-Trust/sterling-group/Theta-Asset-Management/responsible-entity/ASIC/managed-investment-scheme/Joe-Longo/

| By Laura Dew |

Policy & Regulation

As three directors face multiple criminal charges for their involvement in Sterling Income Trust, four years after it collapsed, Money Management reflects on Sterling’s troubled past.

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Sterling Income Trust

sterling group

Theta Asset Management

responsible entity

ASIC

managed investment scheme

Joe Longo

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 pulls up TelstraSuper on IDR inefficiencies

telstrasuper/ASIC/internal-dispute-resolution/

| By Rhea Nath |

Superannuation

The corporate regulator has commenced its first proceedings on internal dispute resolution requirements as it takes TelstraSuper to the Federal Court.

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telstrasuper

ASIC

internal dispute resolution

AUTHOR

Rhea Nath

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Multiple criminal charges laid on three Sterling directors

ASIC/Sterling-Income-Trust/sterling-group/managed-investment-scheme/

| By Laura Dew |

Policy & Regulation

Three directors connected to the collapse of managed investment scheme Sterling Income Trust have been charged with multiple criminal charges, four years after its collapse.

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ASIC

Sterling Income Trust

sterling group

managed investment scheme

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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Count-Diverger acquisition expected in February 2024

Count-Financial/Hugh-Humphrey/Diverger-Limited/Nathan-Jacobsen/

| By Laura Dew |

Financial planning

Count’s acquisition of Diverger is expected to complete by the end of February 2024, CEO Hugh Humphrey has told Money Management, despite a last-minute rival bid from COG Financial Services.

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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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Industry sees triple-digit adviser losses YTD

Wealth-Data/financial-advisers/Colin-Williams/

| By Laura Dew |

Financial planning

The number of advisers who have left the industry since the start of the year has reached triple figures, with 11 advisers leaving this week.

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Wealth Data

financial advisers

Colin Williams

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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The ‘chicken and egg’ factor in retirement product development

retirement-income/Retirement-Income-Covenant/ASIC/super-funds/trustees/

| By Laura Dew |

Financial planning

ASIC believes there is a “chicken and egg” situation when it comes to product development under the Retirement Income Covenant as super funds and firms are unsure if products will see sufficient uptake.

Read more about:

retirement income

Retirement Income Covenant

ASIC

super funds

trustees

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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Multiple criminal charges laid on three Sterling directors

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