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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Risk Product, Company and Regulatory Updates as at 14 May 2019

Risk Product, Company and Regulatory Updates as at 14 May 2019
  • AIA Australia discounts lump sum policies

  • OnePath announces adviser portal improvements

  • Integrity Life announces product enhancements

  • Asteron Life exiting stage left

  • Life Code Compliance Committee (LCCC): still work to do

  • Australasia Wealth Services and Management licence suspended

  • Westpac paying back over 30 per cent of fees-for-no-service

  • APRA sends letter, demands action from disability income providers

  • FSC says no to civil penalties for voluntary industry code

  • Adviser AFS licences revoked due to dual authorisation with other licensee

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ESG Update as at 7 May 2019

ESG Update as at 7 May 2019
  • APRA reviewing ESG matters

  • AMP compiles 10 ESG issues on investor agendas

  • Sand: the environmental catastrophe you missed

  • Is the renewables market busting?

  • Westpac going 100 per cent renewable by 2025

  • Cannabis - an update on regulatory trends and industry developments

  • Renewables supplied 77 per cent of Germany’s electricity on Easter Monday

  • Brunei punishing gay sex, infidelity, with stoning and whipping

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

  • Clearview updates LifeSolutions pricing

  • MLC MySuper goes from single strategy to lifestage

  • Delays for MLC sale

  • Westpac looking at selling in-house planners

  • Fourth report on four major banks released

  • FASEA adjusts adviser exam

  • Freedom Insurance Group suspends trading

  • ASIC appeals Federal Court decision on Westpac breaches

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Risk Product, Company and Regulatory Updates as at 22 January 2019

  • Adviser licensee joins forces with investment platform for innovation

  • FASEA updates on education standards

  • Westpac and BT still failed consumers, says court

  • Advanced Wealth Financial Services in court

  • HNW Planning has licence restrictions applied

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Fund Product, Company and Regulatory Updates as at 13 November 2018

  • CBA divestments

  • Vision Super lowers admin and investment fees

  • Mercer and Kogan partner for a new super fund

  • Nikko closes two Australian equity funds

  • Financial Circle to pay $9m in fines for loan scheme

  • Westpac to pay $3.3m for BBSW saga

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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 People as at 22 May 2018

  • Rest Super appoints senior analyst

  • Perpetual appoints new CEO

  • CBA announces acting CFO

  • PIMCO and Allianz seeking 50 new hires

  • FinTech Australia appoints new CEO

  • New Shadow Minister for Financial Services

  • Westpac appoints new group exec of customer and corporate relations

  • First State Super retiring

  • JP Morgan NZ resigns

  • Blue Sky director resigns

  • Young Leaders in Finance Award finalists announced

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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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Fund People as at 18 April 2018

  • Risk expert appointed by Willis Towers Watson

  • General manager appointed by Westpac

  • Mercer responsible investment team expanded

  • Board director appointed by Vision Super

  • Lonsec group chief executive named

  • ASIC names co-deputy chair

  • Chief executive appointed by LGIAsuper

  • AIST board director and president swap seats

  • Award night recognises insurance technology companies

  • FASEA chief executive steps down

  • BTFG general manager resigns

  • Industry Super Australia chief executive steps down

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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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Fund People as at 13 February 2018

  • BlackRock appoints financial institutions head
  • Westpac appoints board member
  • JBWere alumnus joins Koda Capital
  • Sales lead appointed by Perennial
  • New chair appointed by FSC
  • Fidante appoints new head
  • Zurich appoints new head
  • Lazard chief steps down
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Fund Product, Company and Regulatory Updates as at 14 November

  • KSI launches landbanking managed fund
  • Face ID available for My AMP and Bett3r customers
  • Westpac sells asset manager
  • Push for affordable housing asset class by Industry Super
  • ANZIIF wins award overseas
  • Australia and China fintech co-operation
  • ASIC obtains freezing orders
  • Two companies lose financial services licence
  • Citibank refund credit card customers
  • Citibank refunds following misleading statements
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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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Fund People as at 28 August 2017

  • UBS announces wholesale head
  • Fidelity appoints new director
  • Australian Ethical makes two senior appointments
  • Vanguard appoints Australian QEG head
  • BlueBay opens Australian office
  • Westpac appoints independent director
  • HFR announces 2017 award nominees
  • CBA chief executive to stand down
  • QBE chief to step down
  • Cbus executive to step down
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