Sun, 17th Nov 2024

This episode of the Daily Financial Services News Wrap starts with an update on Macquarie Asset Management's introduction of two active ETFs, designed for continuous, high performance. It highlights these ETFs' accessibility for retail investors via the ASX, and Macquarie's performance-based fee structure. Next, the podcast discusses Cbus' settlement of over 6000 delayed death and disability claims under ASIC scrutiny, with ongoing legal issues and allegations of thousands of delayed claims. On employment, Australia's unemployment rate remained steady at 4.1% as of October, with 16,000 new jobs created. Economists predict the Reserve Bank of Australia might hold off on interest rate cuts. The episode ends with a report on Leigh Mackey, the owner of UK-based Inspire Insurance Services, who has been fined heavily and banned for life from the UK financial services industry for misusing insurance premium funds.