Should ALRC wait until QAR is over to change advice legislation?; Melbourne adviser faces court over super theft

The Financial Services Council has noted the “enhanced risk” that comes from implementing changes to financial advice legislation simultaneously with the Quality of Advice Review.

A Melbourne financial adviser permanently banned by ASIC earlier this year is facing a maximum penalty of 20 years’ jail for obtaining financial advantage by deception, allegedly spending the money on race cars, boats, and helicopters.

The software provider has signed on as a partner of the 10th annual Super Fund of the Year Awards, taking place in Melbourne on 25 October.

Colonial First State has appointed a new group chief executive following a global search.

ASIC has warned licensees they could face regulatory action if they fail to remediate customers in a timely manner as it reviews licensees’ handling of RG 277 in its first year.

Sydney-based asset manager Maple-Brown Abbott has been selected to execute a new Australian active small caps mandate in the sovereign wealth fund’s $65 billion listed equities program.

As an asset class, infrastructure has a number of unique characteristics that makes it an attractive option for investors across all points of the economic or market cycle, writes Sarah Shaw.