FSC canvasses capital requirements for advice licensees The Financial Services Council has canvassed the imposition of capital requirements on advice licensees as part of any compensation scheme of last resort at the same time as arguing that other sectors should not have to cross-subsidise advice or other sectors most exposed to claims. For more.

AMP lambasted over CEO’s salary in face of BOLR blitz The Finance Sector Union has accused AMP Limited of treating its financial advisers poorly amid the company’s confirmation of salary improvements for its chief executive, Francesco De Ferrari. For more.

Improved lending conditions boost Aussie listed property The sector benefitted from lower interest rates last year but any softening in bond yields could negatively impact pricing. For more.

0.5% levy cap urged for any compensation scheme of last resort All participants in the financial services industry should bear the burden of funding a compensation scheme of last resort but any levy should be capped at 0.5% of revenue, according to IMAP. For more.

Magellan NPAT jumps 13% The fund manager’s funds management soared 29% to $92.8 billion over the year to 31 December, 2019. For more.

SuperConcepts AUM down 26% The firm’s client numbers have taken a hit off the back of legacy issues and five years of mergers and acquisition. For more.

PCFM: Focus on China’s fundamentals rather than coronavirus Investors should focus on China’s investment fundamentals, like the continued growth of the middle class and the rapid growth of urbanisation, rather than on the short-term impact of the coronavirus. For more.

Janus Henderson takes advantage of coronavirus sell-off Janus Henderson has begun to rotate its Chinese equities portfolios by reducing their exposure to consumer companies in light of the coronavirus and favouring construction firms. For more.

ASIC bans Macquarie adviser Warren Acworth has been banned from providing financial services for engaging in misleading conduct relating to a financial product. For more.

Broken leg, not legacy Outsider knows that the girls and boys over at CommInsure have been just a bit distracted in recent times given the long, very long, nature of the transaction which will ultimately result in the company being owned by AIA Australia Limited. For more.

Indy and Michael got a gong, what about Outsider? Once again, Outsider found himself missing out on an Australia Day award, notwithstanding his contribution to the restaurant industry, single malt manufacture and the sport of golf. For more.

Himbury heads off into the sunset, kind of And, as the sun finally sets in the west, Outsider bids farewell to the outgoing chief executive of IFS Investors, Brett Himbury. For more.