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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Fund Product, Company and Regulatory Updates as at 9 April 2019

  • QB launches execution algorithm on ASX

  • IFM Investors opens European office

  • VicSuper and First State Super consider merger

  • NAB scraps 'introducer payments’

  • Christian Super launches Aboriginal and Torres Strait Islander reconciliation plan

  • Institutional Shareholder Services acquires Strategic Insight

  • New alternatives platform launch

  • New small caps boutique at Fidante Partners

  • Zurich closes international equities fund

  • Australian Super increases insurance premiums

  • Refundable franking credits removal fails committee approval

  • Budget relaxes super contribution rules for retirees

  • Product dashboards for MySuper products temporary disclosure-related relief extended

  • APRA’s new powers in the super realm

  • New laws for financial product design and distribution pass

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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 Product, Company and Regulatory Updates as at 12 March 2019

  • Low carbon fund launched by Russell Investments

  • Investec launches Global Environment Strategy

  • Allianz Retire+ first investment product launched

  • Loomis Sayles launches credit fund

  • BlackRock launches Australian ESG bond fund

  • Sunsuper implements advice fee caps

  • IFM Investors establishes emissions reduction targets

  • Statewide Super considering merger with WA Super and Tasplan

  • New super legislation to drop fees, consolidate accounts

  • Abu Dhabi and ASIC sign collaboration agreement

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Risk Product, Company and Regulatory Updates as at 5 March 2019

  • Automated advice software developer opens Australian office

  • BT updates quoting and applications for risk, extends policy fee waiver offer

  • Suncorp sale to TAL finalised

  • Grandfathered commissions on last legs

  • AFSL approval data released by ASIC

  • APRA’s 2019 targets outlined

  • Labor wants to ban all life insurance commissions

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

  • JP Morgan announces new digital currency for institutional investors

  • New superannuation laws passed in the Senate

  • Fight to remove controversial weapons from global indices joined by Aussies

  • HSBC’s EU concluded

  • New powers by ASIC to punish banks more harshly

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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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Fund Product, Company and Regulatory Updates as at 12 February 2019

  • Centuria Life launches new product suite

  • Janus Henderson shuts down Australian equities funds

  • AustralianSuper members see admin fees double

  • IAG & NRMA Superannuation Plan merging with Sunsuper

  • Online shopping for investments

  • Jade Capital AFS licence cancelled

  • ASIC launches Global Financial Innovation Network (GFIN)

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Fund Product, Company and Regulatory Updates as at 28 January 2019

  • SelfWealth launches ETF for SMSFs

  • Praemium upgrading platform for advisers and investors

  • Premier Asset Management winds up 17-year-old fund

  • Australian Ethical selling stake in IOOF

  • MLC reduces wrap admin fees

  • MTAA Super cuts fees

  • Rest launches no-fee investment options

  • CFS Private Wealth wound up after ASIC investigation

  • Kaz Capital with imposed licence conditions

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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 16 January 2019

  • VanEck reduces ETF fees

  • Strategic Insight (formerly Plan For Life) has been acquired

  • Verve Super launches supporting female financial security

  • Equip to take over superannuation for ex-Qantas catering employees

  • Insto investors get African index, finally

  • Halifax Investment Services AFS licence suspended

  • California first US state to mandate gender board diversity

  • ASIC releases consultation paper on fee and cost disclosure reform for managed funds

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Fund Product, Company and Regulatory Updates as at 27 November 2018

  • BetaShares launches first active fixed income ETF in Australia

  • UBS launches emerging markets equity fund

  • Vision Super divesting from thermal coal, tar sands, tobacco

  • Women’s Economic Security Statement 2018 released by government

  • ASIC extends relief for non-cash payment facilities

  • Exceptions made in Protecting Your Super reforms

  • UBS Securities pays $120,000 MDP infringement notice

  • Dampier Finance convicted and fined for failing to lodge financial statements

  • State One Stockbroking breaches cost company $500,000

  • ASIC now free to hire gun staff as needed

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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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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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