Financial Services

Funds management

Financial services hunt for M&A amid strong balance sheets

Financial services leaders are “all cashed up with nowhere to grow” when it comes to M&A activity, according to Deloitte, with 90 per cent saying they have strong balance...

Policy & Regulation

AAT overturns ASIC ban against Spaceship Capital director

The Administrative Appeals Tribunal has set aside a decision by ASIC to ban Paul Ernest Dortkamp, a former director, chairman, and responsible manager of Spaceship Capit...

Funds management

‘Lack of talent’ inhibiting female hiring practices

A lack of female talent in financial services has been cited as an inhibitor to gender diverse businesses, while jobs exploring responsible investing were seeing more int...

Financial planning

Aussie wealth management amounts to $3.06t

The wealth management market has seen a growth of $266 billion during financial year 2020-21 despite the overall share in the financial services market declining by 0.9% ...

Financial planning

Financial services among least trusted industries

Non-bank financial services – as well as banking and insurance – are among the lowest rated industries for trust, according to Roy Morgan....

Financial planning

Mayfair 101’s Mawhinney given 20-year ban from raising funds

The Federal Court says James Mawhinney, or entities controlled by him, has a high likelihood to engage in similar conduct if not prevented by the court from doing so, fol...

Policy & Regulation

ASIC claims to have planners in its regulatory ranks

The Australian Securities and Investments Commission is insisting it has empathy for financial planning licensees because it has both former advisers and paraplanners in ...

Funds management

Is Liberal-led committee picking on IFM Investors?

The industry funds-owned IFM Investors is suggesting that the Liberal-dominated House of Representatives Standing Committee on Economics is unreasonably singling it out f...

Financial planning

Financial services jobs see boost

Despite much of the job market struggling due to the COVID-19 pandemic, financial and insurance services have seen a boost in openings in June. ...

Policy & Regulation

Six-month deferral for Royal Commission commitments

The implementation of recommendations from the Royal Commission will be deferred for six months to allow the industry to deal with the impact of COVID-19....

Financial planning

Finance sector crucial for environment

Some 90% of Australians think that the finance sector has a crucial role to play in generating positive environmental and economic outcomes, according to the Responsible ...

Policy & Regulation

ASIC unveils regime for foreign financial services providers

The Australian Securities and Investment Commission has released its new regulatory framework for foreign financial services providers who are providing services to Austr...

Policy & Regulation

No recourse to members’ money for super funds that err

Superannuation fund trustees will not be able to resort to members’ funds held in trust to pay civil penalties arising from the new Financial Accountability Regime....

Policy & Regulation

FSC warns of increased expense under Financial Accountability Regime

Experience in the United Kingdom suggests it may be a lot more expensive to recruit and retain senior executives under the Government’s proposed new Financial Accountabil...