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Showing 31 - 40 of 141 results for "Kenneth Hayne"

ASIC warns trustees on employer inducements

KARREN VERGARA  |  THURSDAY, 1 AUG 2019
... decision-making is critical to addressing potential consumer harms, Press said. One sticking point for Commissioner Kenneth Hayne at the time was that s68A did not go far enough in preventing "treating" employers, and called for a civil penalty provision ...

Final nail in the coffin for grandfathered commissions

KANIKA SOOD  |  TUESDAY, 30 JUL 2019
The government will introduce legislation this week to end the payment of grandfathered commissions to financial advisers by 1 January 2021. Federal Treasurer Josh Frydenberg and assistant minister for superannuation, financial services and financial ...

Wealth management investigations spike

KANIKA SOOD  |  FRIDAY, 21 JUN 2019
... while investigations into wealth management increased 129%. In the Royal Commission's final report, commissioner Kenneth Hayne recommended when ASIC identifies misconduct, its starting point should be "why not litigate?" instead of the "negotiate" tack ...

Superannuation reforms underway

KARREN VERGARA  |  FRIDAY, 21 JUN 2019
In her first industry address since inheriting the superannuation portfolio, Senator Jane Hume reinforced the Federal Government's plans to fix the structural problems across the retirement system and ultimately improve outcomes for members. Speaking ...

Risk commission changes imperil advice practices

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2019
... competition, as only the largest institutions will be able to survive, it said. Under Recommendation 2.5, Commissioner Kenneth Hayne said ASIC should consider further reducing the cap on commissions for life risk insurance products - unless there is ...

Big four satisfaction on road to recovery

HARRISON WORLEY  |  TUESDAY, 28 MAY 2019
Around four months after Kenneth Hayne handed down his final report into misconduct in financial services, customers of the big four banks are starting to feel more satisfied. Latest Roy Morgan findings show customer satisfaction with Australia's largest ...

Super stability not guaranteed: Rice Warner

HARRISON WORLEY  |  FRIDAY, 24 MAY 2019
... requirements of APRA's member outcomes regime. The firm noted the Government would also implement most of Commissioner Kenneth Hayne's recommendations from the Royal Commission, adding another layer of change to the sector. "While the industry would ...

APRA to boost staff numbers

HARRISON WORLEY  |  FRIDAY, 12 APR 2019
... prevention as our primary goal." Byres also noted the cases referred to the prudential regulator by Commissioner Kenneth Hayne would continue to be assessed, but do not carry civil or criminal penalty provisions directly. "We continue to gather evidence ...

Technical Services Forum: Keep advisers informed of change

HARRISON WORLEY  |  THURSDAY, 11 APR 2019
Lively discussion broke out during the first Challenger Financial Standard Technical Services Forum for 2019 in Sydney yesterday, with the consensus being financial advisers must be across which products are exempt from means testing. Challenger head ...

Government bans superannuation funds treating employers

KARREN VERGARA  |  WEDNESDAY, 10 APR 2019
New legislation has put an end to trustees incentivising employers to appoint them as their default superannuation fund. Part of the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No 1) Bill 2019 bans ...