Senior management across the financial services sector are to be held to account in an enhanced supervisory regime to be overseen by both APRA and ASIC.

The Commission’s work has four clear observations: the connection between conduct and reward; the asymmetry of power and information between financial services entities and their customers; the effect of conflicts between duty and interest; and holding entities to account.

It’s that time of year again – the first Tuesday in November, when we run the Melbourne Cup! Once again, I have been tasked to find the followers of this blog the winner.

Over the past five years, the H2 Ventures and KPMG Fintech100 report has tracked the emergence and maturation of the startups looking to revolutionise the financial services sector.

The life insurance sector, like much of the financial services industry, is currently under great scrutiny. But the full picture, while not rosy, is a lot healthier than many might believe.  

One of the best recommendations in the Productivity Commission (PC) draft report on the superannuation industry was the backing the PC gave to making permanent the current temporary (until 1 July 2020) tax rollover relief for fund mergers and transfer events.

For many employers, complying with complex superannuation rules is an enormous challenge and despite best intentions, there are occasional errors.

After 25 years, superannuation was due a landmark critical analysis – and the Productivity Commission’s draft report out yesterday certainly has not disappointed in that respect.It has spotlighted many important issues I would endorse.

The next decade will see a major rationalisation of Australia’s superannuation sector – with the number of funds in Australia being cut in half. But this is a natural evolution from the current market situation which is already seeing a two-speed divide between larger and smaller funds