MM Newsletter
  30 April, 2021
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Latest News
Money Management Original
More licensees close as adviser numbers continue to drop
Another eight licensees chose to close this week, which translated into a loss of 15 adviser roles, while the number of actual advisers continued to drop to 22,201.
Money Management Original
ASIC admits it has levy discretion
The Australian Securities and Investments Commission has admitted it has discretion over the so-called ASIC levy, and has pointed to Federal budgeting for driving the current increase.
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Money Management Original
How AustralianSuper paid nearly $400,000 to an employer group
More than $380,000 has been confirmed as having been channelled to a major employer group by major industry fund, AustralianSuper.
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Industry News
REST appoints Parametric and Calvert to sustainable fund
The newly launched REST Sustainable Growth Option fund’s equity allocation would be managed by Parametric and Calvert.
Industry News
ASIC changes requirements for use of lease assets
The Australian Securities and Investments Commission has changed the financial requirements for some types of Australian financial services licensees by allowing them to use lease assets to satisfy their licence financial requirements.
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Industry News
Investor confidence declines in April
Decreases in North America and Asia saw the State Street Global Markets Global Investor Confidence Index drop 1.5 points.
Industry News
Shipton replacement announced
The Government has appointed Joe Longo as its chair, replacing James Shipton.
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Industry News
IOOF adviser exits reflected in outflows
IOOF says it was all planned and expected, but the exit of advisers has dragged on its money flows.
Money Management Original
AMP closes Dynamic Markets fund
The AMP Capital Dynamic Markets fund, which was recently downgraded by Lonsec, is to close today in light of falling assets under management and poor performance.
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Industry News
ASIC bans former Aus Unity AR over MySuper opt-outs
The corporate regulator has banned another former authorised representative for misleading clients about MySuper opt-outs.
Industry News
REST announces insourcing of general advice services
Major retail industry superannuation fund, REST has announced the insourcing of its general advice offering including the provision of phone-based general advice services.
Outsiders
Money Management Original
Being out-Bragged by an ex-garbo and an old workmate
Outsider notes that the class wars between industry superannuation funds and retail master trusts have never really ended.
Money Management Original
No incentive applies if Francesco has left the building
Outsider well understands that diligent corporate house-keeping waits for no-one and, at times, can be quite revealing.
Money Management Original
Why spend $33k when you can go to the pub?
Outsider chuckled when he read that Australian Securities and Investments Commission executives paid $33,000 to a team-building consultancy.
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Money Management · Level 10, 4 Martin Place, Challis Place · Sydney, NSW 2000 · Australia