No recourse to members’ money for super funds that err Superannuation fund trustees will not be able to resort to members’ funds held in a trust to pay civil penalties arising from the new Financial Accountability Regime. For more.

ClearView aims for flat fee advice approach Major insurer, ClearView is aiming to move its advice businesses to a flat fee approach and standalone dealer group profitability. For more.

ASIC far from done with RC prosecutions External law firms have been brought in as the Australian Securities and Investments Commission looks to wrap up referrals from the Royal Commission. For more.

AMP and big four see 52% increase in enforcement investigations The Australian Securities and Investments Commission had staff on-site at the major banks and AMP for 216 days during October 2018 and December 2019. For more.

Advisers still better off than mortgage brokers from RC AFA’s Phil Anderson says that despite pushback on Royal Commission recommendations to change trail commissions for mortgage brokers, advisers were still better prepared for Royal Commission changes. For more.

Fidelity: Climate change to prompt ‘third revolution’ Changes surrounding climate change will be the world’s ‘third revolution’, according to Fidelity global head of stewardship and sustainable investing Jenn-Hui Tan. For more.

FSC warns of increased expense under Financial Accountability Regime Experience in the United Kingdom suggests it may be a lot more expensive to recruit and retain senior executives under the Government’s proposed new Financial Accountability Regime, according to the Financial Services Council. For more.

Markets are ‘waking up’ to reality of coronavirus According to deVere Group, coronavirus, as well as other geopolitical and trade tensions, could push the world to the brink of a recession. For more.

NB Income Trust closes $340m raise Neuberger Berman has announced its Global Corporate Income Trust will become the largest global fixed income listed investment trust on the ASX, following a completion of $340 million raise. For more.

Will you still need me, will you still love me, when I’m sixty-four (or five) Advisers need to ensure contribution strategies for this financial year are carefully planned as there is no indexation of the $1.6 million super caps from July, Bryan Ashenden writes. For more.