Class order relief now on the table as FASEA exam bill stalls The Government is finding itself under pressure to support class order relief around the Financial Adviser Standards and Ethics Authority exam timetable in the wake of the legislation stalling in Senate. For more.

Industry super funds hit back, committing to investing in growth and recovery Faced by strong ongoing criticism from some Government back-benchers, Industry Super Australia has hit back pointing out the degree to which industry superannuation funds are already committing to investment to help lift Australia out of its COVID-19 recession. For more.

ASIC calls on market participants to ‘act appropriately’ The Australian Securities and Investments Commission has written to market participants to ask they act appropriately to ensure a resilient stockmarket. For more.

ME Bank has never delivered a dividend The industry superannuation funds which are shareholders in ME Bank have never received a dividend from its operations. For more.

How well have dealer groups handled COVID-19? Dealer groups have done well to equip advisers with guidelines and interpretations for any queries their clients have. For more.

CGT relief for super mergers in members’ best interest The now permanent capital gains tax measure for superannuation fund mergers has taken away a barrier to fund consolidation, the Association of Superannuation Funds of Australia believes. For more.

ETP inflows soar during COVID-19 Exchange traded products in Australia experienced inflows over $1.07 billion in April, with half that in Australian equities. For more.

Insurers must digitise Consumers of all ages are adopting a “millennial mindset” and established insurers must digitise and draw upon partners to retain market share from bigtech entrants. For more.

FASI appoints non-executive director Paul Pellegrino has been appointed as non-executive director for the Financial Advice Services Institute. For more.

CGT rollover relief for merging super funds welcomed The Financial Services Council has welcomed the new legislation but is disappointed the laws also create unnecessary tax compliance burden on Australia’s managed funds. 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.