ESG Update as at 20 April 2019

ESG Update as at 20 April 2019
  • Philip Morris tobacco first Australian company to close gender pay gap

  • Facebook dropped from S&P 500 ESG Index

  • Why we need a four day work week - for the planet!

  • No country for women - yet

  • Best performing ESG investment options inside superannuation

  • New ethical fund rating system set up by advisers

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Fund Product, Company and Regulatory Updates as at 20 June 2019

Fund Product, Company and Regulatory Updates as at 20 June 2019
  • Intrust Super launches micro-investing platform for members

  • LUCRF Super updates insurance premiums

  • BetaShares and Legg Mason launches active ETF

  • BUSSQ increasing admin fees

  • Industry association closes its doors after almost a century

  • APRA imposes licence conditions on AMP Super and board

  • ASIC acts against SMSF advisers

  • Whitebox Trading off the hook

  • Super and retirement calculators soon to include inflation

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Risk Product, Company and Regulatory Updates as at 11 June 2019

Risk Product, Company and Regulatory Updates as at 11 June 2019
  • TAL launches Health Sense Plus

  • ClearView publishes research paper on commissions

  • Zurich is now the proud owner of OnePath Life

  • Spectrum Wealth Advisers closes its doors early

  • OnePath educates staff in mental health

  • FPA launches free health and wellbeing program for advisers

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Fund Product, Company and Regulatory Updates as at 4 June 2019

Fund Product, Company and Regulatory Updates as at 4 June 2019
  • Perennial launches active ETF with an ESG strategy

  • Legg Mason launches new ‘deeper green’ ESG fund

  • Moelis Australia launches insto credit fund on the ASX

  • BetaShares launches Indian ETF

  • SSGA to launch ETF model portfolios

  • Alleron IM relaunching brand

  • MLC Life appointed group insurer by Maritime Super

  • Cartel class action launched against major institutional investors

  • Natixis joins Future Females in Finance

  • Sunsuper integrates CBH Super in another merger

  • Blue Sky placed into receivership

  • NAB sells Ausmaq to German group

  • APRA zeroing in on IOOF group companies

  • Aurora fund takeover bid fails

  • Macquarie Securities pays $300,000 penalty

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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 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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Fund Product, Company and Regulatory Updates as at 7 May 2019

Fund Product, Company and Regulatory Updates as at 7 May 2019
  • CFS removes nine undesirables, adds three new index funds

  • Tribeca partners with advisory firm to launch new Asian Credit fund

  • Equipsuper and Catholic Super to merge

  • Netwealth opens new office, makes new appointments

  • Superannuation startup relaunching

  • IOOF fails to meet APRA’s deadline

  • ASIC appoints receivers to Berndale Capital Securities

  • APRA review looks at insurance in super

  • AIST wants AFCA to name and shame super funds

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Fund Product, Company and Regulatory Updates as at 23 April 2019

  • Vanguard launches ETF

  • CareSuper reduces administration fees with admin switch

  • Colonial First State drops fees across super and investments

  • First State Super brings advice in-house

  • One-stop-shop SMSF platform for accountants and planners launches

  • IOOF class action filed after Royal Commission evidence

  • CitiGroup to refund over $3m after sale of complex products

  • Super bills on hold

  • New legislation removes incentives for employers to choose super funds

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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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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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