INSTITUTIONS

Revealed: Neilson’s $100 million news agenda tops the bill

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Original article by Lisa Murray
The Australian Financial Review – Page: 2 : 3-May-19

The Judith Neilson Journalism Institute has provided funding for a range of initiatives since it was founded, while its longer-term goals include producing podcasts and documentaries in partnership with established media companies. The institute was founded by philanthropist Judith Neilson, who is also its patron. Neilson says she has no input into the day-to-day operations of the institute, whose board includes former ABC chairman Jim Spigelman, Free TV Australia CEO Bridget Fair and Paul Kelly, the editor-at-large of ‘The Australian’.

CORPORATES
JUDITH NEILSON JOURNALISM INSTITUTE, AUSTRALIAN BROADCASTING CORPORATION, FREE TV AUSTRALIA LIMITED, NEWS CORP AUSTRALIA PTY LTD, WHITE RABBIT GALLERY LIMITED, WALKLEY FOUNDATION FOR JOURNALISM

Labor slams attack on union super

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Original article by John Kehoe, Joanna Mather, David Marin-Guzman
The Australian Financial Review – Page: 1 & 4 : 11-Jan-19

Shadow treasurer Chris Bowen has criticised the Productivity Commission’s proposed changes to the default superannuation fund regime. He says restricting the default fund to a list of the 10-best performing funds is problematic, as returns can vary significantly over a period of time. The PC’s key recommendation is opposed by labour unions, while the Financial Services Council and the Association of Superannuation Funds of Australia have also expressed reservations. However, Treasurer Josh Frydenberg says the proposal has merit and is worth considering.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PRODUCTIVITY COMMISSION, FINANCIAL SERVICES COUNCIL, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY, COUNCIL OF SUPERANNUATION CUSTODIANS, SUPERANNUATION CONSUMERS’ CENTRE, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC

Mitchell gets ready to return ASIC tennis deal serve

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Original article by Ben Butler, John Stensholt
The Australian – Page: 2 : 22-Nov-18

Free TV Australia chairman Harold Mitchell has stepped down in the wake of legal action arising from his former role as a director of Tennis Australia. He has described the Australian Securities & Investments Commission’s allegations as false and has vowed to "vigorously defend" the legal action. ASIC alleges that Mitchell withheld information from TA’s board about potential bids for tennis broadcasting rights. The rights were awarded to the Seven Network, which has disputed ASIC’s claim that it had received confidential information from Mitchell about rival bids.

CORPORATES
FREE TV AUSTRALIA LIMITED, TENNIS AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, IMG AUSTRALIA, FEDERAL COURT OF AUSTRALIA

Mitchell under pressure to quit Free TV after ASIC court action

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Original article by Max Mason
The Australian Financial Review – Page: 18 : 21-Nov-18

Free TV Australia has declined to comment on the future of chairman Harold Mitchell, amid speculation that he may be forced to step down after the Australian Securities & Investments Commission launched legal action against him. ASIC’s civil action concerns Mitchell’s role as a former director of Tennis Australia, where he is alleged to have failed to advise the board that it was likely to secure more money if its TV broadcasting rights were put out to a competitive tender. Sources have suggested that Mitchell’s position at the TV industry lobby group may be untenable.

CORPORATES
FREE TV AUSTRALIA LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, TENNIS AUSTRALIA, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA

Banks to end charging dead, conflicted fees

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Original article by James Frost
The Australian Financial Review – Page: 13 & 17 : 10-Oct-18

The Australian Banking Association has proposed a number of changes to the banking code of practice in response to the misconduct exposed by the financial services royal commission. Amongst other things, banks have agreed to take action to ensure that they do not continue to charge fees after a customer has died, while the banks will ensure that they do not charge fees for services that are not provided or are not needed by a customer. The ABA and its members will also lobby for the complete abolition of trailing commissions for financial advice.

CORPORATES
AUSTRALIAN BANKING ASSOCIATION, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AMP LIMITED – ASX AMP, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, CLSA AUSTRALIA PTY LTD, COMMONWEALTH FINANCIAL PLANNING LIMITED, COUNT FINANCIAL LIMITED, FINANCIAL WISDOM LIMITED, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT

Rare allies back a Big Australia

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Original article by Simon Evans
The Australian – Page: 1 & 10 : 4-May-18

The ACTU, United Voice and the Australian Industry Group are among the organisations that will sign a National Compact on Permanent Migration. The compact, which is an initiative of the Migration Council, calls for the existing goal of a yearly permanent migrant intake of 190,000 to be retained, with future numbers to be adjusted in proportion to the population. The compact is seen as a "circuit breaker" to the current debate on immigration, which has developed overtones of xenophobia, while it contains a consensus between business and union bodies on temporary migration programs, but with such programs being more strongly scrutinised.

CORPORATES
ACTU, UNITED VOICE, THE AUSTRALIAN INDUSTRY GROUP, MIGRATION COUNCIL OF AUSTRALIA, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, AUSTRALIA. DEPT OF THE TREASURY, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, AUSTRALIAN LABOR PARTY, FEDERATION OF ETHNIC COMMUNITIES COUNCIL OF AUSTRALIA, SETTLEMENT COUNCIL OF AUSTRALIA, WELCOME TO AUSTRALIA

Rio Tinto climate policy resolution expected to fall short

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Original article by Peter Ker
The Australian Financial Review – Page: 17 : 1-May-18

A motion calling for Rio Tinto to review its relationship with industry groups will be put it shareholders at its AGM on 2 May. The motion has been filed by the Australasian Centre for Corporate Responsibility and has the support of investors such as HESTA and the California Public Employees’ Retirement System. However, other Rio Tinto investors are expected to vote against it, and the motion is not expected to secure a majority. Nonetheless, ACCR executive director Brynn O’Brien will deem the motion to have been a success if 10 per cent of Rio Tinto’s shareholders vote for it.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY, HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED, CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, LGIM, AEGON ASSET MANAGEMENT LIMITED, BHP BILLITON LIMITED – ASX BHP, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIANSUPER PTY LTD

FPA preoccupied with hiding adviser’s identity

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Original article by Joanna Mather, Fiona Buffini
The Australian Financial Review – Page: 4 : 27-Apr-18

The Financial Planning Association requested that the banking royal commission keep confidential the details of a member who is the subject of disciplinary action. The financial planner in question, Sam Henderson, is also the subject of disciplinary action by the SMSF Association. He contributes articles on financial planning to a weekend newspaper and he has a television show on Sky News. The FPA’s action against Henderson was prompted by advice he gave that had the potential to reduce a client’s superannuation benefit by $A500,000.

CORPORATES
FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, SMSF ASSOCIATION, SKY NEWS, ASSOCIATION OF FINANCIAL ADVISERS LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

ACSI backs Rio lobby group review

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Original article by James Thomson
The Australian Financial Review – Page: 21 : 20-Apr-18

The Australasian Centre for Corporate Responsibility and Local Government Super will ask Rio Tinto shareholders to back a motion calling for the mining giant to review its relationship with industry groups. BHP Billiton undertook such a review after the ACCR instigated a similar push prior to its AGM in November. The Australian Council of Superannuation Investors is understood to be supportive of the ACCR’s motion at Rio Tinto’s AGM, which will be held in May. BHP’s review prompted it to leave the World Coal Association.

CORPORATES
RIO TINTO LIMITED – ASX RIO, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY, LGSS PTY LTD, BHP BILLITON LIMITED – ASX BHP, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, WORLD COAL ASSOCIATION, UNITED STATES CHAMBER OF COMMERCE, MINERALS COUNCIL OF AUSTRALIA, GLASS LEWIS AND COMPANY LLC

BHP quits coal body over climate views

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Original article by Matt Chambers
The Australian – Page: 30 : 6-Apr-18

BHP Billiton has confirmed that it will cease being a member of the World Coal ­Association, citing factors such as differing stances on energy and climate policy. BHP has also indicated that it derives little benefit from being a member of the WCA. However, the Australasian Centre for Corporate Responsibility’s executive director Brynn O’Brien has criticised BHP’s decision to remain a member of the US Chamber of Commerce. BHP said that while the USCC’s stance on climate policy still differs to its own, membership of the organisation has significant benefits.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, WORLD COAL ASSOCIATION, UNITED STATES CHAMBER OF COMMERCE, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY, MINERALS COUNCIL OF AUSTRALIA, APPLE INCORPORATED