Is the Govt’s hardship access to super regime open to rorting? The Government needs to rethink its approach to hardship early access to superannuation to ensure the criteria is tightened and the possibility of rorting removed, according to SuperRatings. For more.

FPA urges explicit TPB acknowledgement on CPD The Tax Practitioners Board needs to explicitly acknowledge the sufficiency of the Financial Adviser Standards and Ethics Authority CPD regime, according to the FPA. For more.

How have listed financials performed? There have been mixed results for major listed financial groups in terms of volatility caused by COVID-19 with banks suffering least while firms such as OneVue and Challenger report losses of more than 60%. For more.

Industry funds revalue unlisted assets Both AustralianSuper and UniSuper have been reported as having imposed a downward revaluation of their unlisted assets. For more.

Magellan moves to 15% cash amid COVID-19 chaos Magellan has updated its investors on portfolio positioning in its flagship Global fund saying it has moved from 3% to 15% in cash and is monitoring its exposure to companies such as McDonalds and Starbucks. For more.

COVID-19 highlights industry burden Financial advisers are struggling to cope with the increased burden of the economic crisis from the COVID-19 pandemic. For more.

Positioning a small-cap fund for COVID-19 Sam Twidale, manager of the DNR Capital Australian Emerging Companies fund, has been repositioning the portfolio in light of COVID-19, with small-cap equities unlikely to be immune from the stockmarket volatility. For more.

Finance sector crucial for environment Some 90% of Australians think that the finance sector has a crucial role to play in generating positive environmental and economic outcomes, according to the Responsible Investment Association Australasia (RIAA). For more.

MyState CEO to stay on after resigning MyState’s chief executive, Melos Sulicich, was asked by the board to delay his move back to Sydney given current uncertainty in the market. For more.

Aust Unity's Bryant to head Mercer in Australia Australian Unity chief investment officer, David Bryant, has been appointed as the Australian chief executive of Mercer. For more.

ASIC bans WA adviser for four years Anthony Hilsley failed to provide advice in the best interest of his clients, an investigation by the Australian Securities and Investments Commission found. For more.

Keep calm and carry on The chaos caused by COVID-19 is likely to be the final straw to tip Australia into its first recession in 30 years, with managers saying it could be ‘hard to escape’, Laura Dew finds. For more.

Are managed accounts suitable for all? While managed accounts have been steadily growing in Australia, there are still a number of advisers who have doubts when it comes to outsourcing their investment process capability, Oksana Patron writes. For more.

What happened to the previous double-digit Crown fund managers? IPAC Asset Management had 12 five Crown funds last year, while Macquarie Investment Management had 10, but how did they do this time around? For more.