Risk Product, Company and Regulatory Updates as at 20 November 2018

  • ANZ releases new underwriting engine

  • TAL product updates

  • Zurich and Oxford join income protection study

  • ClearView launches LaVista Licensee Solutions

  • ASIC now able to hire outside the box

  • FSC issues revised code draft

  • FASEA still working on details of education standards framework

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Risk Product, Company and Regulatory Updates as at 2 October 2018

  • Asteron Life Complete product changes

  • Zurich launches new adviser portal

  • MetLife Australia back in retail life business

  • ASIC taking civil action against ANZ

  • ASIC report finds unacceptable delays in reporting by institutions

  • Dover Financial Advisers and sole director taken to court

  • FASEA announces changes to qualification requirements for advisers

  • NAB and MLC facing class action over consumer credit insurance

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Fund Product, Company and Regulatory Updates as at 25 September 2018

  • Uni students running hedge fund

  • Class actions planned against retail super funds

  • IOOF sells AET

  • Combined Super to merge with Prime Super

  • ASIC commencing civil proceedings against ANZ

  • ASIC updates regulatory approvals for new products and ETFs of the Chi-X market

  • ASIC stops proposed initial coin offerings

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Fund Product, Company and Regulatory Updates as at 17 July 2018

  • QSuper reduces admin fees

  • Westpac terminates SMSF loans

  • Sunsuper and AustSafe Super sign merger agreement

  • Prime Super and Combined Super talking of a merge

  • ASIC investigating Linchpin Capital Group and Endeavour Securities (Australia)

  • ASIC accepts EU from Goldman Sachs Australia

  • ASIC accepts EUs from CBA and ANZ regarding superannuation product distribution

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Fund Product, Company and Regulatory Updates as at 5 June 2018

  • Magellan and Airlie launch retail Aus equities fund

  • Citi launches currency product for HNW clients

  • Spaceship launches two funds

  • Pengana to buy into HNW credit firm

  • Decentralised Capital launches in Australia

  • New investment boutique launch by Pinnacle

  • ANZ,  Deutsche and Citigroup facing cartel allegations

  • BBY, BBY Advisory and SmarTrader AFS licences suspended

  • CBA and AUSTRAC enter agreement

  • Water Infrastructure Criteria launched

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Product, Company and Regulatory Updates as at 15 May 2018

  • Zurich offers lifestyle program, updates Active product range and definitions

  • NAB to leave advice sector, divests wealth operations

  • ANZ to increase share buy-back, cuts sales incentives for advisors

  • CBA finds no evidence of compromised customer information

  • Mackellar’s AFS licence cancelled by ASIC

  • New International paraplanning standard launched in the UK

  • Recommendations submitted to the Royal Commission by ASIC and FPA

  • Class actions filed against AMP

  • Group life insurance offered as opt-in after Federal Budget

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Risk Product, Company and Regulatory Updates as at 1 May 2018

  • AMP adjusts product prices

  • ANZ OnePath adviser portal enhanced

  • Freedom to acquire life business

  • Boutique wealth manager signs to insurance offering

  • ASIC banning power increased

  • First Super supports action against AMP board

  • Class action against AMP to be investigated

  • AMP and banks advice failings may result in criminal charges

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Risk Product, Company and Regulatory Updates as at 18 April 2018

  • TAL offers life coaching for those with mental illness

  • CommInsure enhances digital underwriting

  • Adviser education course launched by Asteron

  • AIA pushes for insurers to fund mental health treatment

  • MLC launched new underwriting engine

  • Predictive underwriting offered to tradies by ANZ

  • Commonwealth partners with Bravura

  • CBA enters into undertaking

  • Trustee Partners acquires advice group

  • AMP admits serious misconducts

  • AMP admits serious misconduct, misleading ASIC

  • CBA and subsidiaries enter into EU with ASIC

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

  • Macquarie offers OneCare
  • BTFG names expanded APL insurers
  • MTAA Super and MetLife from young members premiums
  • ANZ applies life insurance code
  • QBE sells operations to Zurich
  • TAL gender diversity recognised
  • CBL liquidators appointed
  • CBA lodges response to class action claims and amended AUSTRAC
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Risk Product, Company and Regulatory Updates as at 20 February 2018

  • AustralianSuper cuts premiums
  • AMP discounts healthy clients
  • AIA pain education program
  • ANZ upgrade discount offer
  • ClearView flat fee offer
  • Melbourne financial businesses fined
  • New chair appointed to life code compliance committee
  • ClearView refunds poor sales practices
  • CBA puts away money for regulatory costs
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Fund Product, Company and Regulatory Updates as at 13 February 2018

  • Industry veteran acquires SMSF Alliance
  • FTSE Russell partners with Qantas Super, launches gender diversity indices
  • Pacific Current sells insto investment firm stake
  • New website launched by The Tax Institute
  • Instreet Investment increases holding in Acorns Grow
  • Civil proceedings against CBA commence
  • ASIC removes OpenMarkets licence conditions
  • ANZ refunds undisclosed charges
  • Westpac credit card remediation update
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Risk Product, Company and Regulatory Updates as at 5 December

  • ANZ launches OneView mobile access
  • AMP launches LIF diagnostic tool
  • REST adapts new life insurance model
  • HESTA announces life insurance changes
  • New life insurer for Vision Super
  • Non-aligned advisers granted access to AMP assessment tool
  • Mental health focus expanded by TAL
  • BT supports external rehabilitation
  • AFA consumer magazine
  • Advice firm formed by Moneywise pair
  • Leadership academy launched by Zurich
  • PJC reporting date extended
  • NAB and ANZ cover investigation costs
  • Guidance for FSCP release
  • ASIC to appoint liquidator
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Fund People as at 14 November 2017

  • COBA names new chief executive
  • Silicon Valley consultant hired by ANZ
  • Equip Super appoints new head
  • NAB begins recruiting after announcing job cuts
  • Perennial appoints two heads
  • Legg Mason appoints new head
  • Telstra Super appoints new executive
  • ASIC announces initial Financial Services and Credit Panel members
  • Global chief of State Street to retire
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Risk Product, Company and Regulatory Updates as at 21 October 2017

  • CommInsure starts new annuity strategy
  • MLC Life adjusts health and wellbeing program
  • ANZ Wealth continuing to invest in insurance
  • New claims advocacy service launched by AFRM
  • Charitable option launched by AIA Vitality
  • BTFG reorganises advice business
  • Westpac faces Class Action over premiums
  • ASIC enforceable undertaking from Sentinel
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