Insignia’s $2.7bn bid ‘opens the floodgates’ for US PE deals; Potential ‘name and shame’ breach reporting approach sparks AFSL uneasiness

The potential $2.7 billion bid for Insignia from US private equity player Bain Capital could be hard for shareholders to resist and would “open the floodgates” for US firms looking at Australia, according to experts.

A legal expert has flagged there is growing tension in the industry as ASIC considers naming licensees in its breach reports, with such a move potentially deterring proactive self-reporting.

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The FSCP has issued a written reprimand against an adviser who provided incorrect advice to clients regarding the non-concessional cap.

Betashares is to close three managed funds and three ETFs after they failed to secure sufficient assets.

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm.

The corporate regulator has cancelled two AFSLs, one against a Western Australia financial advice firm and one against an individual.

Income Asset Management has hired former ASIC commissioner Danielle Press to its board as a non-executive director as it launches corporate bond ETFs.

As thematic ETFs gain popularity among advisers, research houses have told Money Management of their unique challenge to rate these niche products and assess their long-term viability.