Major banks cop COVID-19 ratings downgrade The likelihood that businesses won’t restart and customers won’t be able to start paying down their mortgages have been factors in ratings house Fitch downgrading Westpac, NAB, ANZ and CBA. For more.

Revalue unlisted assets more frequently – super funds told Major consultancy Willis Towers Watson is arguing that super funds should be revaluing their unlisted assets more frequently to deal with the current volatility. For more.

Centrepoint claims robust balance sheet despite cost-containment Centrepoint board and executive members have voluntarily taken a 20% pay reduction and non-executive staff have been invited to salary sacrifice six weeks’ leave over six months. For more.

FPA launches benchmark tool The Financial Planning Association (FPA) has launched a diagnostic tool to help practices assess and understand how they are positioned for the future. For more.

Finance sector remains resilient during lockdown Over 95% of businesses in the financial and insurance sectors remain operational during COVID-19, one of the highest rates in industry sectors, although more than half have seen a downturn in demand. For more.

Insync optimistic on future of travel sector Insync Funds Management has retained its holding in Booking Holdings, despite a wider negative outlook for travel stocks as it expects it will ‘come out stronger’ from the crisis. For more.

Business confidence at record low Business confidence has plunged day-by-day since the COVID-19 pandemic hit Australia and prompted the Government to increase social distancing restrictions. For more.

Re-open SIV applications to support start-ups Re-opening stalled Significant Investor Visa applications could inject up to $100 million into ailing start-up firms. For more.

ASIC winds up three companies The corporate regulator has obtained orders to wind up Australasia Wealth Services and Management, Marigold Falconer International, and My Wealth Adviser. For more.

Biotechnology firms to draw investors post-pandemic The healthcare sector has outperformed the broad equity market during the COVID-19 crisis as investors reward companies with advanced research to address the virus, according to Janus Henderson. For more.

FASEA Feb exam sees 82% pass rate The February sitting of the FASEA exam saw a pass rate of 82% and the June exam will not have a face-to-face sitting. For more.

ASIC permanently bans jailed Adelaide adviser Former adviser James Gibbs has been permanently banned, the first imposed utilising the recent extensions to the corporate regulator’s banning powers. For more.

Iress withdraws FY20 guidance Financial services software firm, Iress has decided to withdraw its FY20 guidance due to ‘the broader uncertainty surrounding COVID-19’. For more.

Easing the regulatory burden during a pandemic As Australia moves under lockdown, ASIC needs to ease the regulatory burden for advisers unable to meet face-to-face with clients, writes Shannon Bernasconi. For more.

Inoculating against a potential fraud pandemic We all need to keep our vigilance high during these extraordinary times, but perhaps nowhere is our attention more warranted than over money and data, writes Dean Martin. For more.

Helping your clients understand estate planning It is critical that people understand what happens in that often-unknown process of passing away and are prepared with a will, writes Anna Hacker. For more.