Sydney adviser sees ASIC ban reduced by AAT

ASIC/statement-of-advice/appeal/AAT/

A second financial adviser has seen their ASIC ban varied this week following a successful appeal to the Administrative Appeals Tribunal.

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ASIC releases pass mark for June sitting

ASIC/exam/financial-advice/adviser-exam/

ASIC has released the exam results for its June sitting of the financial adviser exam.

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2024 adviser gains in doubt after heavy June losses

Wealth-Data/adviser-numbers/Colin-Williams/financial-advisers/

The 2024 calendar year is now expected to report bigger losses than 2023, despite a strong start, as the last two weeks of June have seen heavy triple-digit adviser losses.

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Magellan reports 72% performance fee rise

Magellan/fund-management/Andrew-Formica/Sophia-Rahmani/

Funds under management at Magellan were largely flat in June as the asset manager reports a 72 per cent rise in performance fees for FY23–24.

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Ausbil wholesale distribution head exits

Ausbil/distribution/hires/appointments/australian-equities/

Ausbil Investment Management has announced its head of wholesale distribution is to depart after 17 years with the fund manager.

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Regal Partners reflects on M&A impact on results

regal/Regal-Partners-Limited/financial-results/

The specialist alternatives investment manager has provided an FUM update for the June quarter as its M&A activity drives net inflows higher.

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First Delivering Better Financial Outcomes bill passed

quality-of-advice-review/Stephen-Jones/Parliament/

The first Delivering Better Financial Outcomes bill has now passed both the Senate and the House of Representatives.

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DBFO bill passes Senate

senate/Stephen-Jones/quality-of-advice-review/

The Delivering Better Financial Outcomes bill has been passed in the Senate following amendments.

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What does Bragg’s final ASIC inquiry report recommend?

andrew-bragg/senate/Senate-Economics-Committee/ASIC/regulation/

Senator Andrew Bragg has released the final report of the ASIC inquiry, making 11 recommendations as to how the corporate regulator can be improved.

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