| Active Super Fined $10.5 Million Over Misleading ESG Claims Wed, 26 Mar: Active Super has faced a substantial financial penalty from the Federal Court, amounting to $10.5 million, due to misleading environmental, social, and governance (ESG) claims. This ruling comes after action taken by the Australian Securities and Investments Commission (ASIC), which identified discrepancies between Active Super’s ESG investment claims and their actual portfolio. - read more
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| Monthly CPI Falls Short Again as Key Components Decline Wed, 26 Mar: A recent release by the Australian Bureau of Statistics (ABS) indicates that the monthly Consumer Price Index (CPI) is underwhelming expectations once more. The seasonally adjusted CPI increased by 2.4%, while the CPI excluding volatile items like holiday travel posted a 2.7% rise. Similarly, the annual trimmed mean registered a 2.7% uptick. - read more
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| Consumer Advocates Criticise Insurers Over 'Poverty Premiums' and 'Loyalty Taxes' Wed, 26 Mar: Consumer advocacy groups have voiced strong opposition to the insurance industry's decision to reject recommendations designed to eliminate practices that disadvantage consumers, including charging higher rates for monthly bill payments and increasing renewal premiums for loyal customers. The Financial Rights Legal Centre has cited ongoing reports from consumers being adversely affected by these pricing practices, which they refer to as a 'poverty premium' and a 'loyalty tax.' - read more
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| Key Insights from Australia's Latest Federal Budget Wed, 26 Mar: The Australian government's federal budget for 2025-26 indicates little change from previous projections. With the economy seemingly recovering, growth is anticipated to rise, while inflation continues its downward trend. However, the budget deficit is set to widen, moving from $27.6 billion in 2024-25 to $42.1 billion in 2025-26. Despite the potential fiscal challenges, significant new tax cuts and spending initiatives highlight the government's focus on alleviating cost-of-living pressures. - read more
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| Millionaire's Controversial Financial Advice to Cope with Cost of Living Crisis Tue, 25 Mar: A 53-year-old Australian millionaire has sparked conversation with his advice on managing financial stress amid the current cost of living crisis. Speaking in a social media segment by the app Coposit St, known for aiding Australians in saving for home loans, the semi-retired individual spoke candidly about his financial strategies. - read more
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| Active Super Fined $10.5 Million for Misleading Green Claims Tue, 25 Mar: The Federal Court has imposed a substantial $10.5 million fine on Active Super for presenting misleading assertions regarding its environmental credentials. This significant legal outcome stems from actions initiated by the Australian Securities and Investments Commission (ASIC) against the super fund for allegedly misrepresenting its sustainable investment practices. - read more
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| Value Seekers Fuel Melbourne's Property Price Resurgence Tue, 25 Mar: Melbourne's property market is experiencing a notable rebound in house prices, driven primarily by value-conscious buyers looking for more affordable options. According to CoreLogic's latest house price report, Melbourne has emerged as the most affordable major capital city in Australia, with a median home price of $772,561 as of February 28, 2025. - read more
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| Urgent Reforms Needed to Curb Rising Motor Insurance Premiums Tue, 25 Mar: The Insurance Council of Australia (ICA) has called for urgent action to address the factors driving the significant rise in motor insurance premiums. In a detailed policy paper, the ICA has outlined a strategic plan, urging government intervention to address key issues like labour shortages, supply chain disruptions, and inefficiencies in accident management practices. - read more
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| Perpetual Invests $60M in Osmosis' Sustainability Fund Mon, 24 Mar: Australian investment manager Perpetual has committed AU$60 million to the UK-based Osmosis Resource Efficient Core Equity Fund as part of its Responsible Investment Multi-Manager Program. This flagship fund focuses on sustainability by targeting companies that demonstrate superior resource efficiency compared to their industry counterparts. - read more
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| Pre-Budget Survey Reveals Urgent Concerns Over Superannuation and Aged Care Mon, 24 Mar: As anticipation builds for the 2025-26 Federal Budget announcement, a recent survey by Viridian Advisory highlights a surge in client concerns regarding superannuation, aged care, and cost-of-living pressures. The findings reveal that 82% of advisers identified changes to superannuation, especially the upcoming updates to Division 296, as a principal interest for their clients. This legislation, introduced last year, imposes an additional tax on super balances exceeding $3 million. - read more
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| Superannuation Funds Advocate for Extended Breach Reporting Timeframe Mon, 24 Mar: Superannuation funds have approached the Australian Securities and Investments Commission (ASIC) with a proposition to extend the period for breach reporting from 30 days to 60 days. Through the Association of Superannuation Funds of Australia (ASFA), these funds have expressed support for ASIC’s suggested changes but argue that the proposed timelines are insufficient for effective rectification and remediation. - read more
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| ASIC Flags Concerns Over Small Amount Credit Contracts Compliance Mon, 24 Mar: The Australian Securities and Investments Commission (ASIC) has unveiled a report titled 'Falling short: Compliance with the small amount credit contract obligations' (REP 805), highlighting compliance issues within the sector. The review covered Australian credit licensees offering small amount credit contracts between December 2022 and August 2024, following regulatory changes in 2022 and 2023. - read more
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| Car Theft Claims Skyrocket, Raising Insurance Concerns Mon, 24 Mar: The Insurance Council of Australia has unveiled substantial data revealing that the expense related to vehicle theft claims has almost doubled since 2015. Last year, the industry handled $428 million in claims, signaling a stark increase from $218 million a decade ago. The data comes from Insurance Statistics Australia, which has adjusted historic dollar values for inflation, highlighting an urgent trend in rising car crime claims. - read more
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| Australian Institutional Investors Target Niche Private Markets Fri, 21 Mar: Current research by Nuveen reveals a burgeoning interest among Australian institutional investors in niche private market opportunities. The latest Equilibrium Global Institutional Investor Survey indicates that 75 per cent of Australian institutional players plan to boost allocations to private markets over the next five years. This is a significant increase compared to the global figure of 66 per cent. - read more
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| Challenges Loom for Insurance Within Australian Superannuation Fri, 21 Mar: A recent report by Mercer has highlighted significant threats to the insurance coverage offered through superannuation funds in Australia. Current statistics reveal that only 50% of superannuation members are covered, a figure that has reduced considerably, reflecting a broader issue within the sector. - read more
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| Unexpected Unemployment Data Sparks RBA Rate Cut Speculation Fri, 21 Mar: The latest labour market statistics from the Australian Bureau of Statistics (ABS) presented a mixed picture, despite initial promising indicators. Although the headline unemployment rate in February remained steady at 4.1% (or 4.05% considering unrounded figures), there was an unexpected decline in employment numbers. - read more
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| Uninsured Driver Denied Compensation in Dispute with QBE Fri, 21 Mar: The Australian Financial Complaints Authority (AFCA) has ruled in favour of QBE Insurance in a case where an uninsured driver attempted to secure compensation following a collision involving a fire truck. The incident occurred when the QBE-insured driver paused at an intersection to allow a fire truck to pass, leading to the uninsured driver impacting their vehicle. - read more
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| FAAA Launches Comprehensive Guide for Young Australians Entering the Workforce Tue, 18 Mar: In celebration of Global Money Week 2025, the Financial Advice Association Australia (FAAA) has introduced a robust resource titled A Guide to Starting Your First Job. This initiative aims to equip young Australians with essential tools and knowledge to navigate the transition into employment with confidence and financial prudence. - read more
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| ASIC Targets Non-Compliant SMSF Auditors Tue, 18 Mar: The Australian Securities and Investments Commission (ASIC) has intensified its scrutiny on self-managed superannuation fund (SMSF) auditors by taking decisive action against 17 auditors in the last half of 2024 due to misconduct concerns. This move underscores ASIC's commitment to maintaining integrity in the financial sector. - read more
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| OECD Warns of Sluggish Australian Economic Growth Amid Global Trade Concerns Tue, 18 Mar: The Organisation for Economic Co-operation and Development (OECD) has issued a warning about a potential slowdown in Australia's economic growth over the next two years. This prediction comes against the backdrop of heightened global uncertainty, spurred by trade policies introduced by US President Donald Trump. The OECD projects Australia’s GDP to rise to 1.9% in 2025 but slip slightly to 1.8% in 2026, falling short of earlier expectations laid out in their December report. - read more
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| Consumer Advocacy Calls for $250 Million Annual Insurer Contribution Fund Tue, 18 Mar: A prominent consumer advocacy group, the Australian Consumers Insurance Lobby (ACIL), is advocating for insurers to contribute $250 million annually to support disaster risk mitigation, as well as the affordability and availability of insurance coverage. This initiative seeks to address what the organization describes as an escalating crisis within the insurance industry. - read more
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| Surge in Managed Account Usage Among Australian Advisers Mon, 17 Mar: Managed accounts have become a prevalent choice among Australian financial advisers, with recent research unveiling that nearly 59% of advisers now incorporate them into client portfolios. This figure represents a notable rise from 56% the previous year, according to a study conducted by Investment Trends in collaboration with State Street Global Advisors (SSGA). - read more
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| Addressing the Global Retirement Savings Dilemma: Amundi’s Eye-Opening Research Mon, 17 Mar: Recent findings by the Amundi Investment Institute underscore a pressing issue affecting global economies: a persisting retirement savings crisis fueled by both behavioural challenges and a lack of awareness. The institute’s report highlights that a significant portion of the global population faces financial insecurity as they approach retirement age. - read more
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| Sydney Leads Australia's Housing Market Resurgence Mon, 17 Mar: CoreLogic's latest preliminary auction results have revealed Sydney's dominant role in Australia's housing rebound, with an impressive clearance rate of 71.4%. This marks the sixth consecutive week that the auction clearance rate in Sydney has surpassed 70%. - read more
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| Insurer Prevails in Fraudulent Rental Claim Dispute Mon, 17 Mar: The insurer QBE has successfully reversed a payout concerning a fraudulent rental claim, as determined by the Australian Financial Complaints Authority (AFCA). The controversy arose from a claim lodged under an owners’ corporation residential strata plan for water damage and subsequent rental losses dating back to a January 2022 storm. - read more
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