The federal government has released exposure draft legislation towards doubling the concessional tax rate for super balances exceeding $3 million.

A former financial adviser who pled guilty to stealing $10 million from his clients to spend on boats and helicopters has been sentenced in a Melbourne court, with the judge describing his conduct as “reprehensible”.

EY believes there is a benefit for banks in returning to the wealth space and developing decumulation products for consumers entering retirement.

Money Management collates the biggest hires and exits in the financial services space of the last three months.

In her first meeting as RBA governor, Michele Bullock has made the monetary policy decision on the monthly cash rate.