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Showing 31 - 40 of 1206 results for "Royal Commission"

Ownership changes spur upheaval in unit trust sector

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
... investors pulling money out of active fund managers that were subject to structural changes since the Banking Royal Commission. Some of the investment managers with the largest negative net flows were spun out of the large wealth managers owned by Australia's ...

Adviser demand up as industry turns corner: Recruiter

KARREN VERGARA  |  FRIDAY, 7 JUL 2023
... coming from the employers who want to re-adopt the associate adviser role, which was popular prior to the Hayne Royal Commission and FASEA regulations. "We see this client shift as a response to increase capacity to absorb the referrals and new client ...

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
The disgraced director of Select AFSL, the company the Hayne Royal Commission exposed for hawking life and funeral insurance to vulnerable customers, has been banned from managing a company for five years, while his companies were fined $13.5 million. ...

Performance test excluding retirement products is "crazy": Podcast

CASSANDRA BALDINI  |  THURSDAY, 29 JUN 2023
... products. "That will leave out a whole range of other Choice investment options, which we know from the banking Royal Commission, were poorly performing. A whole host of single asset-class investment options are excluded from the performance test," he ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... relevant sub-sectors it will charge. The financial advice industry has copped skyrocketing levies since the Hayne Royal Commission, which forced out 40% of the population. The formula is driven by the denominator, meaning that as more advisers exited ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... members a misleading impression as to their potential retirement benefits," Asher said. Cold calling post-Hayne Royal Commission The Australian Institute of Superannuation Trustees (AIST) has previously called on the government to extend anti-hawking ...

CSLR finally passes senate

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
... Kirkland said the creation of a compensation scheme was one of the most important recommendations from the Banking Royal Commission. "The introduction of a compensation scheme of last resort is an historic moment for consumer financial protection in ...

FRAA releases draft APRA, ASIC metrics

KARREN VERGARA  |  FRIDAY, 16 JUN 2023
... the FRAA asks stakeholders. The consultation period ends on July 27. The FRAA was a recommendation of the Hayne Royal Commission. The legislation for the FRAA's establishment passed in parliament in mid-2021. Less that two years since its establishment ...

No regrets: Hayne reflects on Royal Commission

KARREN VERGARA  |  TUESDAY, 30 MAY 2023
Nearly six years since the landmark Royal Commission, former High Court justice Kenneth Hayne stands by his recommendations that upended the banking and financial services sectors. Making a rare appearance at the International Congress of Actuaries ...

AMP restructures wealth management, chief exits

KARREN VERGARA  |  MONDAY, 29 MAY 2023
... experience and transformation. Other than AWM, what is left of AMP following a turbulent period since the Hayne Royal Commission is AMP Bank, New Zealand Wealth Management (NZWM), and remnants of AMP Capital like a 15% holding in China Life AMP Asset ...