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Showing 91 - 100 of 280 results for "Levy"

FPA accuses ASIC of price gouging

ELIZA BAVIN  |  MONDAY, 15 JUN 2020
... Association of Australia has hit back at the corporate regulator accusing it of price gouging after increasing the industry funding levy for financial advisers by 38%. The FPA has urged the corporate regulator to reconsider the 38% increase to the ASIC ...

Australian fund regulation below average: Morningstar

ALLY SELBY  |  TUESDAY, 28 APR 2020
Australia has received a below average grade from Morningstar for the regulatory and tax frameworks that its managed funds face. As part of its biannual Global Investor Experience report, the research house assessed the experiences of mutual fund investors ...

Should unused services on AFSLs be subject to ASIC levy?

KANIKA SOOD  |  FRIDAY, 17 APR 2020
An AFSL holder asked the court to review its entreaty to ASIC to waive industry funding levy for services that it was licensed to offer but did not. Polymath Investors acquired an Australian Financial Services Licence in 2010 to work with wholesale ...

Pandemic response concerns overblown

HARRISON WORLEY  |  FRIDAY, 3 APR 2020
... billion. How could we pay for that?" Richardson asks. "To take a simple example, you could pay for that by raising the Medicare levy from today's 2%. It would have to go all the way up... to 2.14%." What's more, Richardson said Australia may not even ...

Is it time to lean on the Future Fund?

KANIKA SOOD  |  THURSDAY, 2 APR 2020
... the two will depend on the government at time, but one of the solutions could be increasing receipts such as the Medicare levy as has been done in the past. For Hutley, drawing upon Future Fund is almost a non-question. "Future Fund was set up to meet ...

FSC calls for CSLR claims cap

ALLY SELBY  |  FRIDAY, 14 FEB 2020
... scheme caps, without any cross-subsidization, were required to limit this "moral hazard". "Applying a general socialised levy could create a moral hazard, would not achieve the government's or the Royal Commission's objectives of accountability ...

Separate advice and product: AIOFP

ELIZABETH MCARTHUR  |  FRIDAY, 7 FEB 2020
... advisers and product providers have to be a part of the scheme and pay a lump sum and yearly provision similar to the APRA levy across regulated funds. The AIOFP wants to see separate boards addressing compensation cases related to poor financial advice ...

American private debt fund eyes Australia

KANIKA SOOD  |  THURSDAY, 23 JAN 2020
... transactions and default rates sit at less than 1% of the total transaction volume of about US $9 billion, its co-founders Richard Levy and Brendan Carroll said on a recent visit to Sydney. Among its investors are the sovereign wealth funds, pension ...

ASIC increases levy costs

ELIZA BAVIN  |  THURSDAY, 16 JAN 2020
... of $18,000 plus $7.35 for every $1 million of assets under management (AUM) above the $250 million threshold. The actual levy is a minimum of $18,000 plus $8.83 for every $1 million AUM over the $250 million threshold. An ASIC spokesperson told Financial ...

ASIC alters adviser levy

ELIZABETH MCARTHUR  |  FRIDAY, 20 DEC 2019
... Association of Australia head of policy and standards Ben Marshan has pointed out that ASIC has quietly altered the per adviser levy recently. Marshan told Financial Standard that financial advice businesses which have budgeted for levies for the year ...