The FAAA expects to see a reduced fee to sit the financial adviser exam once the proposed changes are implemented, with the current cost sitting steep at $1,500 per attempt.

With a raft of Treasury consultations announced last year, Money Management examines their progress through Parliament and which could pass this year.

The FAAA has called for APRA to update the sole purpose test to reflect changes under the Quality of Advice Review for super funds to provide advice.

The asset manager is bolstering its capabilities in the retirement space with the formation of a new team that will look into new retirement products and services.

The Australian fund manager has appointed Robert Hogg as group chief investment officer after an extensive market search, taking over the reins from Stephen Hiscock.

Simon Swanson has resigned from the board of Centrepoint Alliance, just four months after being appointed as chair.

Four directors of Endeavour Securities and Linchpin Capital Group have been penalised by the Federal Court for multiple failings on a registered managed investment scheme, with one individual rapped for his ‘lack of remorse or contrition’.

Following the government’s proposed changes to the financial adviser exam, SIAA has made additional recommendations for better outcomes, such as enabling entrants to sit the exam on request.

Money Management explores four key superannuation fund mergers expected to finalise this year, including two mergers with Australian Retirement Trust.

The asset manager has moved overweight duration for the first time in three years as it believes the rate hiking cycle has concluded, as well as moving overweight UK and European government bonds.