The economist Milton Friedman famously said that in a market economy, ‘there is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game.’  Read more

Climate change. Regulation. COVID-19. Recession. Populism. All these topics and more were tackled by local and international speakers at the FSC’s inaugural Investment Summit this week.  Read more

Christmas is around the corner (sure does not feel like it) but ironically feels premature given the prolonged months of slow activity during 2020 for reasons well-known. Read more

Welcome to Issue 45 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. Parliament resumed for a short, one week sitting on Monday 9 November, the second last sitting period of the year. The FSC continues to expect a suite of Royal Commission (RC) bills to be introduced to Parliament before the end of the calendar year, as previously indicated by the Government, but for many of these bills to also be referred to a committee process for further examination. Read more

Default super is about to become a whole lot more competitive, but perhaps not in the way many of us imagined.  Read more

Welcome to Issue 44 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. The 2020 Budget released on the evening of 6 October packed a punch, with superannuation reforms announced that will have significant downstream implications for life insurers, fund managers and financial advisers. The FSC is closely engaging with the Government on these reforms and looking to ensure the ‘Your Future, Your Super’ package does not result in poor consumer outcomes. Read more