ME Bank and ISA in Parliamentary Committee crosshairs ME Bank and Industry Super Australia will be placed under scrutiny as part of an urgent public hearing of a key Parliamentary Committee. For more.

ASIC pushes design and distribution out to late 2021 Implementation of the key financial products design and distribution obligations has been deferred until well into the second half of next year. For more.

Royal Commission commitments deferral welcomed While industry associations have welcomed the six-month deferral, they have called for the Government to be open to reviewing the timeline given the uncertainty of the COVID-19 pandemic. For more.

Choice praises 'sensible balance' of RC deferral The consumer group said the deferral struck a ‘sensible balance’ between legislating reform and dealing with the pandemic. For more.

Average early release below $10,000 The average early release of super for financial hardship withdrawals is around $8,000, below the $10,000 maximum. For more.

T. Rowe Price launches global high income fund T. Rowe Price has announced the launch of its new Global High Income fund for Australian investors which will be “highly complementary” to its Dynamic Global Bond fund. For more.

Six-month deferral for Royal Commission commitments The implementation of recommendations from the Royal Commission will be deferred for six months to allow the industry to deal with the impact of COVID-19. For more.

ME Bank reverses redraw move Industry funds-backed bank, ME Bank has reversed its home loan redraw limits decision. For more.

Macquarie profits down 13% for 2H20 Macquarie Group has posted a net profit after tax of $1.27 billion for the second half of the year, down 13%, due to economic effects of the COVID-19 pandemic. For more.

Criticisms of life/risk advisers don’t hold water With the Australian Securities and Investments Commission’s review of the Life Insurance Framework just around the corner, the last thing life/risk advisers need is criticism based on selective interpretations of industry data. For more.

InFocus: Have NAB and CBA left their wealth exits too late? Mike Taylor writes that timing is everything and that while Westpac and ANZ have largely cleared their books of their wealth management businesses, the Commonwealth Bank and National Australia Bank continue to have a problem. For more.