India’s long-awaited package of financial services reforms is setting the stage for a surge of foreign capital into the world’s fastest-growing major economy.In the latest step, lawmakers passed a bill this week allowing up to 100% foreign ownership of insurance firms, bolstering an industry long viewed as under-penetrated and capital-starved. Regulators have also overhauled rules for banks, pension funds and capital markets as they aim to shift savings from idle assets such as gold and property toward equi ...

Bloomberg Australia’s financial regulator has ordered pension fund HESTA to conduct independent reviews following a prolonged outage that it said harmed members. The Australian Prudential Regulation Authority imposed the extra license conditions after HESTA’s shift to a new administrative services provider triggered a “severe” disruption to member services, the regulator said Thursday. The outage lasted around seven weeks until the switch was completed in June. Most Read from Bloomberg APRA said it h ...

Australian Pensions Fall Short on Retirement Guidance, ASIC Says https://t.co/seUP6zHm8F ...