Early release fraud – members will pay Superannuation funds may not have been responsible for the $150,000 early release fraud being investigated by the Australian Federal Police but their members will ultimately pay via use of the so-called members’ reserve. For more.

AMP dumps plans to exit wealth in NZ In the absence of sufficiently attractive offers and in the face of the COVID-19 pandemic disruption, AMP has decided not to divest its New Zealand wealth management business. For more.

Fixed term investment marketers in ASIC’s sights Firms marketing fixed term investment products as a substitute for bank term deposits have been placed on notice by the Australian Securities and Investments Commission. For more.

Surging demand for financial advice Financial advisory group deVere has seen a 24% rise in new clients as they navigate volatile global stockmarkets and a potential decrease in their savings. For more.

Six Park waives management fees for new investors Online investment provider Six Park is temporarily reducing its minimum investment threshold and waiving investment management fees to encourage more Australians to invest. For more.

Investors should expect U-shaped recovery According to Western Asset’s base case scenario outlook, investors should expect longer, U-shaped global economic recovery. For more.

Listed property stronger than 2008 First Sentier Investors say listed property securities are well-placed during COVID-19 as it is experiencing less extreme drawdowns than it did during the GFC. For more.

Aussie investors look to CEOs for financial accountability Institutional investors hold chief executives responsible when there are errors in a firm’s financial reporting, not the chief financial officer, according to research. For more.

Sharing the pain a matter of degrees Outsider was absolutely outraged to learn that some of the denizens of major consultancies such as Deloitte, KPMG and EY had been obliged to absorb pay cuts of up to 20% to help their firms navigate the vicissitudes of the COVID-19 pandemic. For more.

Outsider wants a seat on the board, any board so long as it pays Outsider is the first to admit that he suffers from the green-eyed monster of envy when it comes to remuneration but he thought he had put that all to one side when he heard news that the partners of the big four consulting firms such as Deloitte, KPMG and EY had taken pay cuts of up to 20% in the face of COVID-19. For more.

Social distancing-induced Freudian slip on Twitter As a man of a certain age, Outsider wouldn’t say he enjoys using modern technology. He also understands that weeks of Government-enforced social distancing rules can drive a man to drink. For more.