The Australian share market finishes Friday lower but the week higher after Tuesday's record gains, as US President Donald Trump takes to social media to declare trade negotiations with Canada over.
ASIC's review of 12 super funds collectively responsible for more $1.2 trillion in member assets finds they are failing in customer service and communications, and may not be giving members information to make informed retirement decisions.
Michele Bullock says either shoppers or merchants will have to pay more under the central bank's proposed debit and credit card changes. The ASX closed lower after oil and gold prices retreated.
A former financial adviser involved in placing thousands of clients into the First Guardian Master Fund says he was given clearance by superannuation trustee Diversa to do so after the trustee initially flagged compliance concerns.
Compulsory super has led to higher levels of national savings, but, as the pool of savings grows, many argue that stricter supervision is needed to protect Australians' retirement savings.
Singtel confirms its CEO will join the Optus chair and CEO in meeting the communications minister as the triple-0 fallout rumbles on. Meanwhile, despite a poor opening, the ASX regains ground to finish the week higher.
As questions mount about how Australia's retirement funds industry is regulated, a senator says regulator ASIC must more quickly and forcefully enforce the law.