Financial Services Minister Stephen Jones has shared further details on the second tranche of the Delivering Better Financial Outcomes reforms, including modernising best interests duty and reforming statements of advice.

ASIC has suspended the AFSL of a Sydney fund manager, which operates a managed investment scheme, over repeated failures to comply with licensee obligations.

Money Management’s sister title ifa has announced 36 winners for the 11th annual ifa Excellence Awards 2024 at a ceremony in Sydney.

AMP expects to make a $36 million loss from its advice divestment, while Entireti has announced a new senior leadership structure as the deal completes.

ASIC has confirmed it is investigating the financial advisers who recommended investors to invest in the Shield Master Fund, as the responsible entity Keystone Asset Management is to be wound up.