The PRWIRE Press Releases https:// 2021-04-15T01:45:11Z Gadens Announces Breach Reporter Platform Powered by Lawcadia 2021-04-15T01:45:11Z gadens-announces-breach-reporter-platform-powered-by-lawcadia With 2021 set to bring about a tidal wave of regulatory reforms, Australian financial services institutions are fast running out of time to implement new mandatory reporting practices for potential regulatory breach issues – including fee miscalculations, deficient consumer advice or cyber-attacks – but the launch of a new ‘RegTech’ platform by national law firm Gadens is set to dramatically improve the regulatory reporting landscape for its users. Gadens Breach Manager – the first-of-its-kind, cloud-based RegTech platform which officially launched this month – streamlines the information collation, assessment and reporting process of potential regulatory issues to one online platform, allowing financial services institutions across the country to ensure defensible, timely and cost-effective compliance with the new and newly important regimes, including BEAR/FAR, ADI, AFSL and ACL obligations, AML/CTF, Privacy and Design & Distribution.    Gadens Breach Manager meets strict industry reporting requirements and ensures quality legal advice is obtained on whether a regulatory breach has occurred (and, if so, preparation of the regulatory report itself) and what to do next within sharp statutory timeframes, dramatically reducing the risk of legal ramifications for financial services organisations and their senior accountable employees. Powered by Australian legal technology company Lawcadia, Gadens Breach Manager uses an intelligent and secure platform engine – Lawcadia Intelligence™ – which was launched in October 2020 and is supported by an ISO 27001 certified information security management system. Gadens Director Liam Hennessy said the mandatory reporting of potential regulatory issues has become a key concern for financial services organisations which are already struggling to manage the volume of information, time and resourcing pressure, and legal complexity of these sensitive issues. "We designed the Gadens Breach Manager to allow our time-pressed clients to efficiently gather the right information in a protected environment, assess which of seven overlapping regimes the potential issue may fall under within statutory timeframes, and then get advice free-of-charge in-house or for a low fixed price externally. The client is in complete control from an audit perspective and may elect to customise the platform for their internal needs. Lawcadia founder and chief executive officer, Warwick Walsh, said that he is excited by how Gadens is using Lawcadia’s innovative platform to assist financial services organisations meet their mandatory reporting obligations. “Since we launched Lawcadia Intelligence, we have been really excited to see the different use cases that both in-house legal teams and law firms have come up with for our platform. I am incredibly impressed at what Gadens have done with the platform for their key focus area of financial services and assisting their clients with this new pain point”, he said. Mr Hennessy said, “Lawcadia are fantastic to work with, and we are thrilled to bring this important innovation to market so quickly”.   For more information on Gadens Breach Manager visit breachmanager.gadens.com. $55billion of investment management insights open to the public 2021-03-31T04:46:48Z 55billion-of-investment-management-insights-open-to-the-public Starting in April and running for nine weeks through to June, Pengana Capital Group representing over $55billion of investment management, will be providing investor insights presented by leading fund managers from around the world. Together, these managers cover Australian and International equities spanning impact investing, healthcare, Israeli tech, property, small caps and private equity, and will host webinar presentations and open discussions on their markets and notable holdings. “It has certainly been an exceptionally interesting period in history for investors: a global pandemic followed by vaccine rollout programs, record-low interest rates, Brexit, American elections, the rise of work from home fuelling rapid global adoption of technology, the list goes on. Pengana is excited to present this series of investment updates, market commentary, and reporting season insights from our diverse range of independent fund managers,” Pengana Capital Group’s CEO Russel Pillemer said. The webinar series promises to be a great forum to hear directly from experts, providing unique insights and assessments of the investment landscape, as well as opportunities and stock-specific overviews that feed into each manager’s portfolio construction in the current climate. “Each webinar will be FPA-accredited to provide CPD points for Australian financial advisers, and there will be a question and answer component in each session for attendees to query our experts directly,” noted Dean Weinbren, an Executive Director at Pengana Capital. “Previous webinar series hosted by Pengana’s range of fund managers have been extremely well received by financial advisers and direct investors alike, with significant continued growth in registrants for each webinar series," Mr Weinbren said. Session 1: Emerging Australian companies with Ed Prendergast | Tuesday, 13 April 2021 9:00 AM (AEST)Session 2: Australian equities with Rhett Kessler | Tuesday, 20 April 2021 9:00 AM (AEST)Session 3: Impact investing with Ted Franks | Tuesday, 27 April 2021 4:00 PM (AEST)Session 4: Australian property with Amy Pham | Tuesday, 4 May 2021 9:00 AM (AEST)Session 5: Private equity with Frederick E. Pollock | Tuesday, 11 May 2021 9:00 AM (AEST)Session 6: International equities with James McDonald | Tuesday, 18 May 2021 9:00 AM (AEST)Session 7: Healthcare stocks with James McDonald | Tuesday, 25 May 2021 9:00 AM (AEST)Session 8: Global small caps with Jon Moog | Tuesday, 1 June 2021 9:00 AM (AEST)Session 9: Israeli tech innovation with Gabi Dishi | Tuesday, 8 June 2021 4:00 PM (AEST) Register here https://pengana.com/webinar-series/END Leading Australian Restructuring Firm Branches Out Into Corporate Advisory 2021-03-30T23:15:40Z leading-australian-restructuring-firm-branches-out-into-corporate-advisory-2 MEDIA RELEASE 31 March, 2021 FOR IMMEDIATE RELEASE   LEADING RESTRUCTURING FIRM BRANCHES OUT INTO CORPORATE ADVISORY    -Mackay Goodwin expands its offering to corporate advisory services-    Leading Corporate Restructuring Advisory firm Mackay Goodwin announced it is expanding its service to include corporate advisory services to help clients grow their business.    The move comes after CEO Domenic Calabretta identified a real need to help businesses navigate some of the economic challenges that have presented themselves during COVID and succeed despite the economic pressures of the last 12 months.    Says Calabretta: “Mackay Goodwin has always specialised in helping businesses recover from economic challenges. Over the last year, it has become very apparent there are also some fantastic organisations, both listed and unlisted, as well as start-ups, which require specialist corporate advice about the most suitable business structure, growing their operations organically, how to secure funding or attract new investors, and how to execute mergers and acquisitions.”   “While we will continue to help businesses to restructure, it is imperative for our economy that new businesses can emerge, with a solid foundation for success, and the team at Mackay Goodwin is passionate about helping them to flourish,” he continues.   Mackay Goodwin has appointed two Joint Head of Advisory to head the new team. Anthony Lucic has more than 15 years of insight and experience advising business and government organisations. Anthony has worked closely with numerous Fortune 500 companies as well as international governing bodies, in particular throughout the Asia-Pacific region. His experience directing multiple business units simultaneously, maximising investment outcomes, driving commercial initiatives, mitigating risk and ensuring advisory expectations are met, offer a breadth of knowledge for Mackay Goodwin’s new Advisory division.  Michael J. Bogue (BCom) is a lateral thinking M&A practitioner and senior business executive with more than 25 years’ top tier experience across numerous industry sectors. He has worked in both large and boutique style M&A practices most notably within JPMorgan Chase & Co’s investment banking unit as Co-Head of Mining & Metals for Asia Pacific and Australian Oil & Gas. He has held a variety of senior executive management positions within ASX and internationally listed corporations. His experience ranging from large-scale cross border M&A transactions through to start-ups makes him ideally placed to advise businesses on scaling, debt and equity capital raisings and moving towards ASX listing. “We are thrilled to have two such strong candidates to launch our advisory business, especially as their combined skillset allows them to work across all business sizes, geographies, and industries. We welcome Michael and Anthony to the team,” says Calabretta.    “The team is passionate about helping entrepreneurs and corporates to meet their business objectives and prosper in these challenging times. Navigating business set-up and structure, and securing finance, even as banks have tightened lending criteria, is critical for Australia’s economic growth,” he continues.   The move into a corporate advisory service offering is just the first step, with the company also announcing the launch on a free online Business Health Check assessment tool to help businesses at all stages of their life cycle.    “Our online Business Health Check tool is a comprehensive way for businesses of all sizes to assess what they are doing well and where there are gaps,” says Calabretta. “In keeping with our new business advisory focus, the Online Business Health Check covers different areas which help define business success, including sales and marketing, IT systems, as well as financial health,” he concludes.   The Business Health check is free for businesses to use and can be accessed here.     ends     About Mackay Goodwin: Founded by CEO Domenic Calabretta, Mackay Goodwin is one of Australia’s leading insolvency and restructure businesses and has carved a niche successfully working with stakeholders in distressed businesses. The company handles everything from complex restructures and recoveries for listed companies and on behalf of various financial institutions to advising SMEs and finding the most appropriate business solution that works for all parties.   Mackay Goodwin is offering several free advisory activities for businesses who find themselves in trouble. Aside from free webinars, it has also released a downloadable business survival pack. It is also providing an initial free consultation with businesses, and to assist the business community its staff have committed to providing two hours of their day free of charge to affected businesses for the next six months. Link to business Health check: https://www.mackaygoodwin.com.au/insights/will-business-health-check-change-direction-business/     For further information or to arrange an interview, please contact Fiona Hamann on 0415 191 659 or fiona_hamann@hamanncommunication.com   Personal Finance Guide Launching 1 April 2021 2021-03-29T07:51:44Z personal-finance-guide-launching-1-april-2021 Australia's newest and funniest guide to Personal Finance, launches 1 April, and will be available for purchase from the money-beans website. This ia a Dad and daughter team effort, aimed at providing an easy to read but informative guide to personal finance. Suddenly Responsible is intended for a person just starting out, or someone who, later in life finds themselves suddenly responsible and having to deal with all manner of personal finance issues. It is light hearted, a short read, but abundant with financial wisdom designed to get the reader rich slowly. Parents are encoursged to buy it for their teens, or even themselves. For each copy of the book sold via the website, Moneybeans will donate $1 to the Leukaemia Foundation. How one provider is making the most of Microsoft’s industry clouds 2021-03-16T07:14:16Z how-one-provider-is-making-the-most-of-microsoft-s-industry-clouds SYDNEY, NSW, Australia — March 15, 2021 — Microsoft recently announced a new suite of industry-specific solutions to support and co-innovate with its customers and partners. There are three new Microsoft Industry Clouds – Financial Services, Manufacturing and Non-Profit – in addition to updates for the existing Microsoft Cloud for Healthcare and Microsoft Cloud for Retail. Barhead Solutions CEO Ken Struthers welcomed the release, saying Barhead had always understood that industry-led solutions were the key to success. “Now that Microsoft has embraced this same approach, their significant investment in the Industry Clouds allows us to deliver solutions to our customers in a far more robust and rapid manner,” Struthers said. Barhead's service offering has been – and will continue to remain – industry-aligned. It simply makes good business sense to ensure experts are fully focused on their specific industry, he said. “We have realigned our sales team to be industry-focused, which means our customers can trust they will receive the knowledge and advice relevant to their industry. We won’t do all things for all people,” Struthers said. Having forged a close relationship with Microsoft’s industry specialists, Barhead has visibility into where Microsoft will be investing in the near term, which is incredibly valuable to its offering and customers. “Being part of the inner circle has given us much greater visibility. It provided us both with an opportunity to shape what the industry solutions are, and also to craft our delivery mechanisms and teams according to how they should be scaled,” Struthers said. Microsoft’s announcement is also a positive for Barhead’s Not-For-Profits Business Unit. Barhead Solutions’ Head of Not-for-Profits Amanda Stenson said the new clouds will allow the company to develop and further enhance the solution beyond the baseline of fundraising and engagement. “It means we can focus on thought leadership areas and dive deeper into uncovering what our clients are trying to achieve,” she said. “This will run the gamut, from solving business problems around acquisition of donors, to delivering services and programs in a much more efficient way. Ultimately, it will allow us to enhance the experience for donors.” There’s no understating how valuable the Barhead–Microsoft partnership is for all sectors, but particularly the NFP unit. These strong ties are leveraging Microsoft technologies for social impact, and allowing Barhead to work directly with the people who are driving change within the not-for-profit sector. “There’s been a lot of investment over the past three to four years in developing the common data model and expanding that to where we are now with the Non-Profit Cloud,” said Stenson. “We’ve developed strong relationships with the Microsoft team, both locally and globally, and they’ve welcomed us into important committees – allowing us to provide feedback into different areas, whether that’s usability, functionality or otherwise. That partnership has been instrumental in getting us to this point.” For the future, Barhead acknowledges that there must be a new baseline of how the business operates in a post-COVID world. However, Struthers sees great potential for growth. “Adoption in Australia of Microsoft Power Platform’s business applications is skyrocketing. So now the technical people are going to need to have a broader industry focus. They will need to know the components of Azure Business Apps, Power Platform, MS Teams, and Modern Workplace Solutions so they can have the right conversations with the relevant people delivering projects,” Struthers said. “Being part of that journey, continuing to evangelise those changes, and working with organisations that are now seeing Microsoft not only as a credible alternative but also the industry leader – we at Barhead will continue to develop the human capital to support those deployments.” Suddenly Responsible - Your Guide to Getting Rich Slowly Available for Sale 1 April 2021 2021-03-15T06:20:36Z suddenly-responsible-your-guide-to-getting-rich-slowly-available-for-sale-1-april-2021 This book is intended to bridge the gap between having no idea about personal finance and working towards building a fabulous financial future. It is about getting rich slowly. The book has been developed in conjunction with David’s daughter Rachel who has helped with editing and trying to figure out what he meant, so was a great context check. The book has been written for teens entering the workforce and getting their first paycheques, and also includes those who later in life who, for whatever reason, find themselves needing to understand the world of personal finance. Both groups find themselves, becoming Suddenly responsible. David considers that with time, development of great savings habits and sound investing, that anyone living within their means can get rich slowly. There is no great wisdom here, no secrets and no shortcuts.  It would help though if you had money beans. These are the seeds, which if you had some you could plant and grow wealthy! Sadly, the book offers none, but David feels he is passing on the seeds of knowledge that will let the reader do it themselves. This leads to the Money Beans 12 Rules The first 5 are given here as a sneak peek. Saving leads to wealth. Savings with compounding leads to more wealth. Seek independent advice; Always If you don’t educate yourself just a little you are limiting your opportunities If it seems to be too good to be true it is. Stock tips are generally rubbish and are well named, as they belong in the tip. About David David sadly didn’t know when to stop going to University. It hasn’t though made him that smart, just perhaps well read. He still works so he can’t be that clever. David qualified from the University of NSW as a geologist and worked mostly in NSW and Queensland as a field geologist for 7 years before working for the Australian Stock Exchange, eventually as Assistant Listing Manager just around the crash of 1987. Then followed 7 years in private practise as an accountant. In the latter part of that time, he completed his Master’s in Business Administration from the University of Western Australia majoring in International Business. With that fine piece of paper under his belt he went, well international, and worked on and off in West Africa for another 7 years. In 2016 he spent time as a forensic accountant, and has done so ever since, again off and on. You can hire him here. Hopefully by the time this book makes him famous he will have redone that website! Police Credit Union announces record 93.8% Customer Satisfaction score and earns title of ‘best of the best’ in coveted RateCity Awards 2021-03-09T01:10:09Z police-credit-union-announces-a-record-93-8-customer-satisfaction-score Police Credit Union has been recognised in the independent RateCity national awards as a prestigious gold winner for its car, home and personal loan products, officially crowned as being amongst the top 10% of Australian lenders for each category victory. The categories in which Police Credit Union scored a gold award win are: ·         Best Investor Home Loan for the product Better Investment Loan ·         Best New Car Loan for the product Better Car Loan Fixed ·         Best Used Car Loan for the product Better Car Loan Fixed ·         Best Green Personal Loan for the product Solar Eco Loan Police Credit Union CEO, Costa Anastasiou, expects the recognition from the well-respected and independent consumer-focussed awards program will attract a growing number of people to the credit union rather than opting for a big bank. “People want to know that their financial institution is doing all it can to make their money work best for them. Customers expect, and indeed deserve, the very best products on the market – especially when you consider that a home and car are two of the largest investments many of us ever make,” Mr Anastasiou said. “Savvy consumers also want to put their trust in a financial institution that understands the growing and changing expectations in the community. We developed our award-winning Solar Eco Loan in response to people wanting to reduce their environmental footprint and lower their energy costs at the same time,” he said. “Put simply, these RateCity award wins confirm what many existing Police Credit Union members already know: our new and used car loans, investor home loan and Solar Eco Loans are the best on the market.” These latest award wins follow recent back-to-back victories in the Mozo Expert Choice Awards in the Green Personal Loan and Car Loans category. The Police Credit Union Solar Eco Loan allows members to take advantage of a Variable Rate Personal Loan to help purchase and install solar panels, home battery systems and solar water heaters, offer a low interest rate, and a loan term of up to 7 years without any ongoing fees or penalty if paid off early. A Fixed Rate Car Loan allows someone wanting to buy a new or used vehicle to take advantage of a competitive interest rate, no application or ongoing fees and payment flexibility with no early repayment fees. The Better Investment Loan provides opportunity to buy or refinance an investment property at a competitive variable rate, make extra repayments at any time without penalty, enjoy no monthly or ongoing fees and utilise a free online redraw. 100% offset accounts are also huge drawcards to this loan. “Reinvesting profits into developing better products and services, exemplary customer service, and giving back through a range of important community partnerships are our major points of difference when compared to a big bank, and recognition as a RateCity Gold winner demonstrates our unwavering commitment to deliver the best to our members,” Mr Anastasiou said. The Rate City Awards recognise the top 10% of the market that deliver unmistakable and exceptional value to consumers, with more than 5000 products and variations analysed and compared based on rates, fees, features, and flexibility. https://www.ratecity.com.au/awards ###  About Police Credit Union Formed in 1970, Police Credit Union is proudly South Australian based and headquartered, boasting a 93.8% Member Satisfaction score, an employee engagement score of 92.6%, total assets exceeding $1.174billion, and delivering Better Banking services to over 40,000 customers. As the most recognised credit union brand in South Australia, Police Credit Union is firmly committed to building enhanced capability in the delivery of both traditional face to face branch banking and local call centres, and innovative, convenient and secure digital architecture. Supporting better communities and reducing our environmental impact represents an intrinsic pillar of PCU’s corporate strategy. A strong sense of corporate social responsibility spans initiatives both large and small, including a long-standing partnership with the Police Association of South Australia, Major Sponsorship of Crime Stoppers SA, the CFS Foundation and Adelaide Football League, and a 23-year commitment in bringing the Credit Union Christmas Pageant to the streets of Adelaide, representing but a few examples of the organisation’s community investment over its 50 year history. Police Credit Union has helped thousands of South Australians and Territorians achieve their financial goals and aspirations, with competitive and high value Better Banking products and services. The multi award-winning, values-driven, Member-owned organisation offers a full suite of market leading loan and investment products, 24/7 Online, Mobile and App banking, Fast Payments, Apple Pay, Google Pay, and Samsung Pay, and branches across SA and NT. 1300 131 844 I policecu.com.au Disclaimer: Police Credit Union Ltd ABN 30 087 651 205 AFSL/Australian Credit Licence 238991. Terms, conditions, fees, charges and lending criteria apply. Full details upon request. Interest rate current as at 05/03/2020 and subject to change. Apple Pay: Apple, the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Pay: Android, Google Pay, and the Google Logo are trademarks of Google LLC. Samsung Pay: Samsung Pay is a trademark or registered trademark of Samsung Electronics Co., Ltd. ACHIEVING CYBER RESILIENCE: A NEW FRAMEWORK 2021-03-04T20:56:07Z new-cyber-resilience-framework SYDNEY, Australia – March 2, 2021 – InConsult, an advisory firm specialising in end-to-end risk management, cyber risk management, internal audit and business resilience services has released a revised cyber resilience framework. Director, Tony Harb said "With more people and businesses connected to the Internet of Things (IoT) and cyber attacks at an all time high, cyber resilience, not just cyber security, has never being more important." Cyber resilience is the ability to anticipate, prepare for, respond to and recover from cyber attacks or disruptions impacting information technology. It recognises that cyber security on its own is not enough and helps prepare the organisation to respond and recover from a range of cyber attacks," he added. InConsult undertook a literary review of several cyber resilience frameworks and assessed them against business resilience models. "We were very surprised with some fundamental gaps we observed. Yes, the various frameworks had most of the important elements, but our revised cyber resilience framework is different in three ways." Harb said. InConsult's refined cyber resilience framework has 6 elements: - Governance - Identify  - Protect - Detect and refine - Respond - Recover Cyber resilience provides an organisation with an opportunity to look at and manage cyber risks from the top down, across different elements and at pre and post incident stage. It also is about engaging with stakeholders from the board down to end-users, vendors and customers. The framework shares its foundations with existing cyber resilience framework, but goes further.  Harb described the key refinements to the cyber resilience framework as follows: "Governance is the first step in our revised framework and forms the foundations of cyber resilience.  Governance exists across all elements of the framework. In some of the frameworks we reviewed, governance was either missing or the last element." "We also separate resilience into 2 states (1) pre incident state and (2) post incident state. This is important as enhancements in a post incident state need to happen much faster as there is an extreme sense of urgency and reputational risk is heightened" "Finally, we include ‘refine’ as a centrepiece of the framework to ensure continuous improvement is considered before and after an incident." he concluded. "A good framework is not a silver bullet against cyber risks, it should always be appropriate to the organisation, its environment and risk posture, but we wanted to help the board, management and information management specialists understand and apply elements of cyber resilience to their organisation" he added. "The framework is a work in progress and it will be refined with application in practice and as part of our continuous improvement process." To take look at our new and revised cyber resilience framework, click here  To learn more about our cyber risk services, visit our website at inconsult.com.au About InConsult Established in 2001, InConsult is a leading professional services firm based in Sydney with extensive local and international experience in risk management, business resilience, internal audit, corporate governance and risk management technology solutions. InConsult offers a comprehensive, end-to-end range of solutions to help public and private sector organisations effectively manage risks and improve internal controls to maximise opportunities. InConsult clients include Australian listed companies, not-for-profit organisations, international insurers and public sector organisations.   For more information, please contact: Tony Harb, Director, InConsult Telephone: 02 9241 1344 Email: admin@inconsult.com.au Prime Value Asset Management hires investor relations director from MLC Asset Management 2021-03-03T00:42:57Z prime-value-asset-management-hires-investor-relations-director-from-mlc-asset-management Boutique fund manager, Prime Value Asset Management, has appointed Philip Morgan as Director Investor Relations and Capital Raising to boost its presence among financial planners and dealer groups. Mr Morgan has experience as a wealth adviser and was previously an Investment Specialist with MLC Asset Management. He said Prime Value Asset Management offers something unique for Australian investors. “Prime Value brings family-office calibre and stewardship to retail investment funds, and has runs on the board for consistency and innovation.” He said Prime Value’s family office background and independence lets it play to its strengths across several asset classes. “Prime Value’s approach can be seen in its concentrated small caps vehicle, the high performing Prime Value Emerging Opportunities Fund.” The Prime Value Emerging Opportunities Fund was ranked the second-highest performing Australian equities fund for the 2020 calendar year by Morningstar. It delivered 23.4 per cent (after fees) to investors for the calendar year, outperforming the market by 14.2 per cent (source: Morningstar). “This fund shows it’s possible to focus on capital preservation and stewardship yet generate extremely strong returns. “Prime Value’s unique approach applies to other investments, including equities, income funds and alternative investments.” Prime Value CEO, Yak Yong Quek, said Prime Value is growing its funds under management among retail investors. “Philip is an outstanding addition to our team and will be important in developing our connection with financial advisors and dealer groups.” Prime Value funds are available via platforms including BT Wrap, Netwealth, Hub24, and Powerwrap. Boutique manager Prime Value Asset Management is part of an investment group including Shakespeare Property Group, managing more than $2 billion across equities, income securities, direct property and alternative investments. New book reveals the problem of unaffordable debt and the failure of Keynesian economics 2021-03-02T00:00:15Z new-book-reveals-the-problem-of-unaffordable-debt-and-the-failure-of-keynesian-economics Investment manager David Kauders says in his latest book, The Financial System Limit ‒The World’s Real Debt Burden, that debt, public and private, cannot expand to infinity and the actions of central banks to stimulate the economy are creating a bigger private sector debt problem, which will cause a future deep recession.[Please request book for review purposes and author available for interview.]Kauders’ controversial but rational ideas are based on troubling insights, including:the world is spending one-fifth of its economic output on interest;before the pandemic, the world was half-way to achieving Puerto Rican default conditions; andthe effect of stimulating our way out of recession is to create a new economic cycle driven by central banks, swamping the traditional economic cycles in agriculture, manufacturing and retail.“The cost of private sector interest is now depressing economic prosperity,” David Kauders said. “The financial system limit of any society is the debt level at which repayment ceases to be viable. Prior to the pandemic, I estimated the average interest cost of all types of debt was then around 7%. However, world debt was three times annual world economic output. This shows the waste of paying debt interest.“Total debt is key, taking into account corporate plus banking system and personal debt. Government debt is only around a quarter of total debt, so the focus on government debt is missing the point. Business and personal debt repayment has a real cost because inflation is so low.” Kauders also draws attention to the fact that interest rates paid by most borrowers have been rising steadily even while interest rates offered to depositors and interest rates paid by governments have collapsed to near-zero.“This shouldn’t be the case. It is caused by:the growth of compliance overheads to satisfy society’s desire to control its banks;rising private sector bad debts, which have to be charged to other borrowers; anddeclining net interest margins earned by banks.“These forces are deflationary, but there is no such thing as good deflation,” he said. “No economic multiplier can create more economic growth above the extra cost of interest on artificially created credit.”In The Financial System Limit, Kauders refers to two case studies: the default by Puerto Rico’s government in 2016 and the collapse of the UK Carillion group in 2018.“Both had reached their own financial system limit. When there is too much debt to service, positive real interest rates cause the debt overhang to act as a brake.”Kauders believes that most countries, including Australia, are facing deflation with the world in a debt trap, made worse by the pandemic. Attempts to create inflation have little effect and the cause of this lack of inflation is the financial system limit.“The authorities do not admit to the debt trap. The farce is that their policies worsen it. The right way of looking at debt is to measure interest cost on total debt in relation to economic output.“Economists, academics, financiers and politicians need to grasp the concept of the financial system limit."Kauders warns that Keynesian economic policies followed by governments have outlived their usefulness and are in danger of deepening the global downturn. In addition, academic theory such as Modern Monetary Theory, capital flow analysis such as Piketty's Capital in the Twenty-First Century and repeated demands for sound money, all ignore total debt and focus narrowly on government debt.As there is no other obvious alternative to create prosperity, the financial system invented by separating debit and credit is approaching end of life.The Financial System Limit ‒The World’s Real Debt Burden, will be available from all good bookstores from 22 February. It is published by Sparkling Books and has an RRP of $A8.75 (e-book, ISBN 9781907230776) and $A20 (paperback, ISBN 9781907230783, printed in Australia). The book is non-technical and will appeal to anyone interested in money and the economy. Hardcover editions will be available later in 2021.endsAbout David KaudersDavid Kauders FRSA was educated at Cambridge and Cranfield School of Management. He is the author of The Greatest Crash: How contradictory policies are sinking the global economy. The Financial Times said in its review: "Radical thinkers might have a point". His new book, The Financial System Limit ‒The World’s Real Debt Burden, shows that creating more private sector debt eventually leads to economic decline.www.sparklingbooks.com/limit.htmlFor media enquiries and requests for interview, etc.Issued on behalf of Sparkling Books by WMC Public Relations. Contact Wendy McWilliams on 03 9803 2588 / 0421 364 665. E: wendy@wmcpr.com.auReviews"The author provides a historical view of how we reached the point where the level of global debt is unsustainable and now compounded by a global pandemic. The book is understandable by those without a deep financial background."Kauders, who has decades of experience as an investment manager makes the case for the difficult situation we, as global citizens, are confronted with." ‒ LibraryThing reviewer* * *"The book pleas to measure interest cost on total debt in relation to economic output. A deep recession and consequential financial upset were inevitable in a world that could not resolve the conflict between stimulus and austerity, a world that remained addicted to debt, a world that refused to admit the limit to the growth of debt caused by the cost of servicing it. That's what David Kauders wants to highlight." ‒ Hank van der Klis, NetherlandsReferenceshttps://money.cnn.com/2016/07/01/investing/puerto-rico-defaults-general-obligation-bonds/index.htmlRegards, Scholarship investment in scaling businesses supports economic recovery and growth 2021-02-26T04:53:09Z scholarship-investment-in-scaling-businesses-supports-economic-recovery-and-growth The Advisory Board Centre has announced a $150,000 investment into 100 business leaders across Asia Pacific to provide vital access to knowledge and networks to support business growth and economic recovery. The Scaling Business Scholarship has been launched at a time when the OECD’s Interim Economic Outlook has found that building confidence will be crucial to ensure that economies recover and adapt. This investment in scaling businesses will drive economic impact and prosperity by equipping leaders to thrive in constantly changing and competitive business environments.  The program is designed to prepare Business Owners and Leaders to more effectively achieve their strategic priorities through smart, scalable governance and advisory solutions.  The Scaling Business Scholarship, valued at $1500 per participant, includes: Enrolment in the Best Practice in Advisor Engagement™ eLearning Program Personalised program support Mentoring session with a global business leader to support action planning Comprehensive business diagnostic to help define key priorities for the future Access to a global network of influential and well-connected peers and Advisors through the world-leading Advisor Concierge Advisory Board Centre Founder and CEO Louise Broekman said scaling businesses played a crucial role in driving economic growth – both locally and internationally.  “The global pandemic has been incredibly challenging but it has also highlighted the strength of the entrepreneurial spirit and the power of critical thinking and decisive decision making,” Ms Broekman said.  “The Scaling Business Scholarship will provide Business Owners and Leaders, who provide valuable products, services and employment, with the confidence to thrive in uncertainty and volatility by enabling critical thinking, access to practical advice and robust scalable governance frameworks that support both quality and speed. “As Government’s across Asia Pacific continue to invest in training and upskilling workers, we recognise the significance of equipping Business Owners and Leaders with the knowledge they need to adapt, recover and drive growth.”     The program is a wholly funded initiative of the Advisory Board Centre which was designed based on feedback gathered from the global advisory community as they supported businesses to navigate the effects of the global pandemic.   According to Ms Broekman, after the initial triage period of supporting Business Owners to navigate the immediate effects, Advisors were reporting an increase in the number of Business Owners seeking support to explore options around repositioning their business and executing on strategic priorities.   “This Scholarship investment comes at a time when entrepreneurial organisations with high growth aspirations are poised to help drive economic growth and recovery.  The ambition and drive is there- we want to see more organisation’s achieving their ambitions and are providing practical support, increased knowledge and capability to help them on their journey.”   The Scaling Business Scholarship Program is now open for expressions of interest from Business Owners and Leaders.  The wider business community can also nominate a Business Leader for participation.   The program is targeting participation from Business Owners in key business hubs across the Asia Pacific region including Australia, New Zealand, Singapore and Hong Kong.   Business Owners and Leaders with high growth plans are encouraged to register their interest at https://www.advisoryboardcentre.com/scaling-business-scholarship/.     About the Advisory Board Centre The Advisory Board Centre is the global professional body for the advisory sector.  We provide research, advocacy, professional credentials and education to support the advancement and adoption of best practice in advisor engagement.   Representing independent professional members across 10 countries, the Advisory Board Centre released the world first ABF101 Advisory Board Best Practice Framework, a principles led approach to support ethical, impact focused engagements at a board level.    About Louise Broekman, Founder and CEO Louise is an award winning Entrepreneur, researcher and business advisor.   Louise has received recognition from Industry and Government at a local and national level for her contribution to the Australian business sector.  In 2004, Louise established an Advisory Board for her own business which has provided her with first-hand experience in how a well-run Advisory Board can positively impact CEOs. Since 2012, Louise has served as Chair for commercial Advisory Boards and led the international research and development programs for the Advisory Board Centre Global Research Council.  She is an in-demand speaker and is regularly called upon as the leading voice for Advisory Boards in the Asia Pacific region. NaturalShrimp Signs Letter of Intent to Acquire Aquaculture Assets of Hydrenesis Aquaculture, LLC 2021-02-23T23:50:33Z naturalshrimp-signs-letter-of-intent-to-acquire-aquaculture-assets-of-hydrenesis-aquaculture-llc      - Assets to be Acquired for $12,500,000- Major Financing Announcement Forthcoming from NSI Dallas, TX, Feb 24, 2021 - (ACN Newswire) - via NewMediaWire -- NaturalShrimp, Inc. (OTCQB: SHMP), an aquaculture Company, which has developed and patented the first commercially operational Recirculating Aquaculture System (RAS) for shrimp, announced today that it has signed a Letter of Intent (LOI) to acquire the aquaculture assets of Hydrenesis Aquaculture, LLC for $12,500,000, consisting of $5,500,000 in cash and the balance due in NSI common stock. The acquisition is expected to be accretive to earnings in fiscal year 2021.Gerald Easterling, CEO of NaturalShrimp added, "NaturalShrimp has been working with Hydrenesis since 2018 on several solutions for the industry with the team at Hydrenesis. We currently have trials on going in Norway and Australia. The Company intends to immediately begin deployment of the technology in our hatchery and nursery systems. We also believe that the Hydrenesis technology will have major impacts on disease control in salmon, barramundi, and tilapia farming segments. We expect to file additional patents around the expansion of the application and use of the combined EC and Hydrenesis technology."David Antelo, CEO of Hydrenesis, Inc., said, "We are excited for the next evolution of our relationship with NaturalShrimp. We have been exploring the application of 'Redox' water treatment for several years. Our technologies' ability to affect water chemistry and elevate water quality is proving to have a significant impact on growth and health metrics. Natural Shrimp's bold vision and rapid growth trajectory make them the ideal partner for extending commercialization of Hydrenesis technologies to additional species applications."ABOUT NATURAL SHRIMPNaturalShrimp, Inc. is a publicly traded aqua-tech Company, headquartered in Dallas, with production facilities located near San Antonio, Texas. The Company has developed the first commercially viable system for growing shrimp in enclosed, salt-water systems, using patented technology to produce fresh, never frozen, naturally grown shrimp, without the use of antibiotics or toxic chemicals. NaturalShrimp systems can be located anywhere in the world to produce gourmet-grade Pacific white shrimp.About HydrenesisHydrenesis, Inc. and Hydrenesis Aquaculture, LLC, headquartered in Pompano Beach, FL, are private technology owners and technology commercialization companies that partner with leading IP holders and industry insiders to commercialize innovative technologies in major industry sectors.Forward Looking StatementsThis press release contains "forward-looking statements." The statements contained in this press release that are not purely historical are forward-looking statements. Forward-looking statements give the Company's current expectations or forecasts of future events. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company's control, and could cause the Company's results to differ materially from those described. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements include statements regarding moving forward with executing the Company's global growth strategy. The statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict. The Company is providing this information as of the date of this press release and does not undertake any obligation to update any forward looking statements contained in this press release as a result of new information, future events or otherwise, except as required by law. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Important factors that could cause such differences include, but are not limited to the Risk Factors and other information set forth in the Company's Annual Report on Form 10-Q filed on February 16, 2021, and in our other filings with the U.S. Securities and Exchange Commission.Contact:Richard Brown508-462-9638SOURCE: Natural Shrimp Focus Partner Firm Connectus Wealth Advisers Launches Excelerate With Connectus, a Groundbreaking New Program to Drive Growth, Increase Adviser Efficiency and Enhance Client Outcomes 2021-02-17T22:30:50Z focus-partner-firm-connectus-wealth-advisers-launches-excelerate-with-connectus-a-groundbreaking-new-program-to-drive-growth-increase-adviser-efficiency-and-enhance-client-outcomes      NEW YORK, Feb 18, 2021 - (ACN Newswire) - Focus Financial Partners Inc. (NASDAQ: FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that its partner firm Connectus Wealth Advisers ("Connectus") is launching its groundbreaking Excelerate with Connectus program ("Excelerate"). Combining Focus' institutional knowledge and scale advantages with the power of a dedicated productivity team, Excelerate will enable Connectus advisers globally to deliver an exceptional client experience while achieving substantial operating efficiencies. Excelerate is a highly curated program that leverages long-standing relationships with premier service providers already used extensively by Focus' 71 partner firms. A distinctive feature of Excelerate is the power of smart technology, which integrates a broad array of tools and resources to deliver a unified experience. Through its emphasis on shared resources, Excelerate will create significant efficiencies and scale benefits for advisers and clients alike. Excelerate builds on strategic relationships with global service providers and will include local customization in the U.K. and Australia, in addition to the U.S. The program incorporates Focus' best practices and value-add resources, with the flexibility to allow each Connectus adviser team to maintain their boutique approach and client service model. All elements of Excelerate will also be made available to Focus partner firms.Excelerate delivers capabilities across five business components, which will substantially enhance Connectus advisers' ability to increase growth while offering comprehensive, integrated and highly personalized client solutions.1. Accelerated Growth. A proprietary marketing program that enhances business development through digital resources, adviser coaching and referral programs.2. Empowered Advisers. An array of tools for developing insights and enhancing adviser productivity, along with access to institutional research and specialized investment alternatives that will enable better client service.3. Enhanced Digital Engagement. The Intelligent Adviser Hub and personalized client portals that will facilitate digital onboarding, customized reporting and other activities to increase client and adviser engagement.4. Comprehensive Value Proposition. Family office and other specialized services, including trusts and estate planning, cash management and credit, and valuation and insurance, which will expand the adviser's ability to meet evolving client needs.5. Dedicated Productivity Team. Specialized resources across talent management, compliance, finance, IT, operations and cybersecurity that will allow advisers to spend more time on value-added activities."We are thrilled to introduce Excelerate, a highly innovative program that is uniquely available through our partner firm Connectus," said Rajini Kodialam, Co-Founder and Chief Operating Officer of Focus. "Excelerate has a flexible architecture that is designed exclusively around the evolving needs of the adviser and client. This program will provide advisers with all the technology and tools required to efficiently deliver holistic and highly personalized solutions to their clients, while also giving them the resources to accelerate the growth of their businesses. Additionally, Excelerate is built with the objective of providing an exceptional client experience. The program caters to the needs of sophisticated clients who want to work with advisers that offer fully integrated capabilities within a robust digital framework."About Focus Financial Partners Inc.Focus Financial Partners Inc. is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit focusfinancialpartners.com.About Connectus Wealth AdvisersConnectus is a global consortium of client-centric advisers that deliver comprehensive wealth management advice through access to expanded services, shared resources and best practices. Connectus exemplifies the spirit of partnership and collaboration, yet celebrates the entrepreneurial mind-set of its advisers. Connectus is designed for founders and teams who want to continue to manage their client relationships and maintain their boutique cultures, while gaining the operational efficiencies of shared infrastructure and access to expanded client service capabilities.Through Focus, Connectus advisers gain a strategic growth partner with specialized expertise. They benefit from Focus' scale and extensive network, continuity planning, insights and best practices. Focus is also a source of permanent capital to accelerate growth and enhance business and client outcomes. For more information, please visit www.connectuswealth.com.Cautionary Statement Concerning Forward-Looking StatementsThis release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment, including, without limitation, uncertainty surrounding the current COVID-19 pandemic, which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.Investor and Media ContactTina MadonSenior Vice PresidentHead of Investor Relations & Corporate CommunicationsFocus Financial PartnersP: +1-646-813-2909tmadon@focuspartners.com TOP MARKS FOR INCONSULT INTERNAL AUDIT TEAM 2021-02-17T02:02:05Z top-marks-for-inconsult-internal-audit-team SYDNEY, Australia – February 17, 2021 – InConsult, an advisory firm specialising in end-to-end risk management, internal audit and business continuity services has announced that it has achieved the highest rating possible in an External Quality Assessment of internal audit services. Director, Mitchell Morley said "We are delighted to advise that InConsult achieved top marks, the highest rating possible of “Generally Conforms” to the mandatory internal audit standards".  He added, "At InConsult, we are committed to meeting the International Standards for the Professional Practice of Internal Audit and demonstrating quality and continuous improvement, but we wanted our clients to be assured that our internal audit approach and methodology is second to none". "Whilst we believe we have high standards internally, we wanted to know what an external, objective and independent review of our systems and processes would say about the quality of our internal audit services we provide to our clients", he said. "Our internal audit clients are based in Australia, Asia, Europe and Americas, so it is important that the review is based on international internal audit standards. In November 2020, InConsult engaged the Institute of Internal Auditors Australia to conduct an External Quality Assessment of internal audit services to assess InConsult’s conformance with applicable mandatory requirements of the ‘International Professional Practices Framework’ (IPPF) issued by the Institute of Internal Auditors (IIA), including the ‘International Standards for the Professional Practice of Internal Auditing’. The review concluded that "Internal audit services provided by InConsult to their clients are performed professionally and generally conform with the Internal Audit Standards; this is the highest rating that can be achieved. Client organisations value internal audit services provided by InConsult. InConsult consultants performing internal audit services are experienced and competent professionals. Client stakeholders interviewed as part of the Quality Assessment expressed satisfaction with the internal audit services provided by InConsult.” "Thanks to our dedicated team of experienced internal auditors, our current state of internal services is very strong" said Mr Morley.  The review confirmed: 1. Internal audit services are well-managed. 2. There is focus on internal audit quality with some opportunity for enhancement. 3. A sound risk-based approach is adopted for internal audit planning. 4. There is a fit-for-purpose approach to planning and performing internal audit engagements. 5. There is a sound internal audit reporting approach. 6. Clients commented positively about InConsult relations with stakeholders. 7. There are solid internal audit foundations in place. 8. There is strong engagement with clients. In terms of internal audit maturity, Mr Morley said "We scored very high – predominantly in the Managed and Optimising levels". "So what does this all mean?" said Mr Morley, "simply that our clients can be reassured that InConsult is committed to high quality service delivery,  continuous improvement and that our internal audit activities are conducted in accordance with the International Standards for the Professional Practice of Internal Auditing​ (Standards).  This gives our clients and stakeholders another level of independent assurance, which is very important in these uncertain times". "From one-off audits to a three year audit program, we tailor our internal audit services to suit each clients needs, business environment and budget using a risk based audit approach", said Mitchell Morley.  To learn more about how our internal audit services helps protect value, visit inconsult.com.au About InConsult Established in 2001, InConsult is a leading professional services firm based in Sydney with extensive local and international experience in risk management, business resilience, internal audit, corporate governance and risk management technology solutions. InConsult offers a comprehensive, end-to-end range of solutions to help public and private sector organisations effectively manage risks and improve internal controls to maximise opportunities. InConsult clients include ASX listed companies, not-for-profit organisations, international insurers and public sector organisations.   For more information, please contact: Tony Harb, Director, InConsult Telephone: 02 9241 1344 Email: admin@inconsult.com.au Businesses missing the benefits of fintech, say Airwallex and CPA Australia 2021-02-12T05:31:47Z businesses-missing-the-benefits-of-fintech-say-airwallex-and-cpa-australia In August 2020, Airwallex and CPA Australia surveyed 600 CPA members working in finance and accounting across organisations in Asia Pacific (APAC) to evaluate the current state of fintech adoption. Based on the survey results, the report aims to address barriers to fintech adoption and help businesses understand the benefits of fintech solutions in modernising their business operations.   Despite increasing digital adoption in response to the COVID-19 pandemic, the survey revealed that only a third of businesses in the region have actively adopted fintech solutions. Additionally, a majority of businesses continue to have unmet business banking needs.   Survey results According to the survey, businesses across APAC cited high banking fees (48 per cent), slow and manual service delivery (35 per cent) and the inability to set up global bank accounts (29 per cent) as the top pain points.   Cybersecurity concerns top the list of reasons why businesses are yet to apply fintech solutions, with more than half (53 per cent) stating this is a key barrier for adopting tech solutions to manage their financial needs. This was closely followed by data privacy concerns (48 per cent), and reliability and trust (48 per cent).   Summary of key findings 70 per cent of APAC businesses surveyed have not used any fintech solutions  40 per cent of APAC businesses are unaware of fintech and the benefits it offers High banking fees (48 per cent), slow and manual service delivery (35 per cent) and inability to set up global bank accounts (29 per cent) were cited as the top unmet needs by businesses 48 per cent of respondents surveyed expressed cybersecurity, data privacy and trust concerns  Australia is leading APAC in familiarity and awareness of fintech benefits 61 per cent of Australian CPA members surveyed having familiarity with the fintech options available for SME and enterprises (as compared with Hong Kong at 57 per cent, Malaysia at 56 per cent and Singapore at 54 per cent) Australia is leading APAC in fintech usage 39 per cent of Australian-based CPA members surveyed have used at least one or more fintech (as compared with Hong Kong at 36 per cent, Singapore at 28 per cent and Malaysia at 20 per cent). Neil Luo, VP, Global Head of SME at Airwallex, said, “Fintech has transformed the global economy, creating new revenue streams and operating efficiencies so businesses large and small can remain viable in an increasingly competitive environment. However, today’s data shows low fintech adoption rates, highlighting a huge missed opportunity for businesses across the region in realising the benefits fintech has to offer. Many of the key business pain points - including opening accounts overseas, being charged high FX fees on foreign transactions and inability to issue employees with their own cards - can be alleviated or resolved through fintechs such as Airwallex.   “At Airwallex, our digital payment solutions have enabled many businesses - from startups to large-scale enterprises - to grow in every corner of the world, while saving time and money doing so. We have earned our customers’ trust and confidence by ensuring that their transactions are not only fast and seamless but also secure. However, we understand education is key to greater fintech adoption, and look forward to working alongside CPA Australia in supporting accountants and the businesses they serve.” Luo continued.   Gavan Ord, Manager Business and Investment Policy and Asia Policy Lead at CPA Australia, said, "Australian businesses are falling behind their international counterparts when it comes to the uptake of fintech solutions. The current business environment amid the COVID-19 pandemic has made digital technologies more essential than ever before.   “Many of our members support clients who need help transforming into digital-first businesses. CPA Australia supports initiatives that encourage small businesses to undertake digital transformation. With the right technology, businesses can improve their agility in this highly competitive environment.”