Risk Product, Company and Regulatory Updates as at 20 August 2019

Risk Product, Company and Regulatory Updates as at 20 August 2019
  • OnePath OneView Life update

  • AMP FPA to contest changes to AMP’s Buyer of Last Resort terms

  • CBA closing Financial Wisdom

  • AMP revises agreement with Resolution Life for sale of AMP Life

  • MLC Wealth restructure

  • MBS Insurance and Complete Risk Analysis to merge

  • APRA fines Westpac for reporting obligation breaches

  • FASEA exam update

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Fund Product, Company and Regulatory Updates as at 13 August 2019

Fund Product, Company and Regulatory Updates as at 13 August 2019
  • Updated MyNorth retirement modelling tool launched

  • Tomorrow Super launching shortly

  • BlackRock and VicSuper partner up for ESG-focused global bond index fund

  • Rest Super brings investments arm in-house

  • WTW buys specialist mergers and acquisitions broker

  • Finclear Execution fined $70k

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Fund Product, Company and Regulatory Updates as at 16 July 2019

Fund Product, Company and Regulatory Updates as at 16 July 2019
  • BetaShares launches government bond ETF

  • Blockchain super admin platform launched

  • Boutique fund manager Mhor Asset Management shuts down

  • JP Morgan dumped at Funds SA after two decades as custodian

  • Deutsche Bank traversing new ground

  • AMP adds Zenith and Quilla to MyNorth, launches new portfolios offer, publishes whitepaper

  • Hostplus in merger talks with Club Super

  • CountPlus offloads conflicting SMA platform solution

  • ASIC cancels AFS licence of Australian Mutual Holdings Limited

  • ASIC offering fintech more flexibility

  • ASIC increases licence application requirements

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Risk Product, Company and Regulatory Updates as at 9 July 2019

Risk Product, Company and Regulatory Updates as at 9 July 2019
  • NEOS Life enhances risk-only superannuation product

  • AMP adds functionality to My AMP

  • OnePath updates trauma definitions, underwriting engine

  • MLC Super changing TPD claim assessments for Any Occupation

  • First FASEA exams completed

  • APRA: financial institutions to register an ‘accountable person’

  • AWSM has AFSL cancelled

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Risk Product, Company and Regulatory Updates as at 28 May 2019

Risk Product, Company and Regulatory Updates as at 28 May 2019
  • AIA product and service enhancements

  • Zurich opens self-service life, super and investment portal, life risk update

  • OnePath updates PDS and adviser guide

  • ANZ abandons Prime Access

  • YBR restructuring wealth arm, losing CEO

  • FASEA exam dates set for June, deadline missed for education approvals

  • ASIC seeks feedback on complaints handling

  • Kaplan Professional brings in Deloitte for FASEA bridging courses

  • AMP admits churning, ASIC seeking civil penalties

  • AFA and FPA band together for risk commissions

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Risk Product, Company and Regulatory Updates as at 16 April 2019

  • BT Protection Plan changes

  • Freedom Insurance selling admin and advisory business, goal to close its doors

  • Integrity Life announces product enhancements

  • Asteron Life extends wholesale commission discount offer

  • BT’s Cancer Assistance Program results

  • Bridges to buy Bendigo and Adelaide Bank advice business

  • SMSF Advisers Network with additional licence conditions imposed

  • AMP FP new AFSL conditions imposed

  • Update on CBA’s AFSL conditions

  • Victims of financial misconduct to have greater supports

  • ASIC can now intervene on problematic financial products

  • FPA calls for ‘general advice’ term to be dumped

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Risk Product, Company and Regulatory Updates as at 2 April 2019

  • TAL introduces business underinsurance workshops

  • AMP removes leadership bonuses

  • MLC Life argues for life insurance commissions

  • Westpac exiting personal financial advice

  • FASEA adviser education update

  • Treasury pushing for standardised insurance definitions for group insurance, consultation open

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Fund Product, Company and Regulatory Updates as at 26 March 2019

  • Sunsuper rolls out new online services for advisers

  • Macquarie no longer offering SMSF residential home loans

  • Hostplus partners with Flexstone Partners on private equity emerging managers program in USA

  • MyNorth fees dropped

  • Quinn Emanuel launches shareholder class action against IOOF

  • APRA may publish worst performing super funds, trustees to expect harsher treatment

  • Perpetual launches credit income trust

  • ASIC places Endeavour and Linchpin into liquidation

  • ASIC cancels first AFSLs of those failing to join AFCA

  • ASIC obtains interim injunctions against Forex Capital Trading

  • Westpoint investors will receive $1.5 million after class action

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Risk Product, Company and Regulatory Updates as at 19 March 2019

  • BT’s LifeCENTRAL+ Desktop is updated

  • Integrity Life enters retail life risk space

  • Clayton Utz surrenders withheld AMP interview documents to ASIC

  • Commonwealth Bank delays demerger

  • FPA launches FASEA policy and education hub

  • FSU campaign to end gender pay gap

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Fund People as at 26 February 2019

  • Macquarie Group appointments

  • Updates to leadership structure at AMP

  • Sunsuper executive restructure

  • Statewide Super welcomes new CEO

  • Class Super appoints new CEO

  • Qantas Super board shuffle

  • BTFG restructure to merge superannuation distribution teams

  • HESTA loses veteran executive, creates new role

  • Women in Super Scholarships - Applications Now Open

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Risk Product, Company and Regulatory Updates as at 6 November 2018

  • Tasplan appoints MetLife as group insurer

  • AMP risk business closed after sale

  • New life insurance reporting standards launched

  • ClearView upgrades LifeSolutions

  • Asteron Life product update

  • TAL Accelerated Protection upgrades

  • MLC offering 10 per cent premium discounts via digital underwriting platform

  • ASIC inviting consultation on proposed licensee competence requirements

  • AFA and FPA apply for Code Monitoring job

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Fund Product, Company and Regulatory Updates as at 9 October 2018

  • Fidelity launches global emerging markets ETF

  • AMP cans SMSF lending, divests $440m from tobacco

  • Tobacco exclusion indices launched by MSCI

  • Bill introduced for revealing target markets of financial products

  • SMSF lending proposal from ASIC

  • New fintech agreements signed between Australia and US, Luxembourg

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