Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 81 - 90 of 368 results for "Hayne"

Adviser numbers at five-year low

KARREN VERGARA  |  FRIDAY, 23 APR 2021
... Figure 1). About five years ago, adviser numbers floated above 20,000 and peaked at nearly 30,000 at the end of 2018 as the Hayne Royal Commission was finalising its verdict. On a year-on-year comparison, the number of advisers dropped 11% at the end ...

ASIC opens breach reporting consultation

ANNABELLE DICKSON  |  THURSDAY, 22 APR 2021
... misconduct. ASIC's draft guidance is based on reforms made to the breach reporting regime under the F inancial Sector Reform (Hayne Royal Commission Response) Act 2020 and expand and clarifies the types of situations that must be reported to ASIC. The ...

Government merges advice reviews

KARREN VERGARA  |  WEDNESDAY, 21 APR 2021
... duplication of work and save time for stakeholders by eliminating consultation times and submissions. In early 2019, the Hayne Royal Commission recommended a review into the quality of advice in three years' time that should be conducted by ASIC. The ...

Delay breach reporting law: AFA

KARREN VERGARA  |  FRIDAY, 16 APR 2021
... help protect consumers, AFSL holders must follow breach-reporting regulations when representatives engage in misconduct. Hayne recommended that significant breaches and investigations relating to suspected breaches must be reported within 30 days, and ...

ASIC releases fee consent instrument

ELIZABETH MCARTHUR  |  THURSDAY, 25 MAR 2021
... be provided in the coming months, ASIC said. All three new instruments are directly in response to Commissioner Kenneth Hayne's recommendations from the Royal Commission. "ASIC said that the instruments were designed to strike a balance between minimizing ...

Remediation services profiting from Royal Commission failures

ELIZABETH MCARTHUR  |  THURSDAY, 11 MAR 2021
... should go to AFCA themselves rather than pay a fee. "When handing down the findings of the Royal Commission, Justice Kenneth Hayne captured the sentiment of the hearings in one word - greed," Stackpool told Financial Standard. "Remediator charges their ...

ASIC pursues criminal charges in super

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAR 2021
... penalties, alleging the funds breached the Corporations Act and ASIC Act. In December 2020, the Financial Sector Reform (Hayne Royal Commission Response) Bill was passed, delaying the ban on super trustees using member's money to pay civil or criminal ...

Lonsec chief to exit, chair welcomed

KARREN VERGARA  |  FRIDAY, 5 MAR 2021
The chief executive of Lonsec will step down after three years, while a new chair, a former BT executive, has been named. Charlie Haynes joined the research house in April 2018, helping reshape and expand subsidiaries Lonsec Research, SuperRatings and ...

Government passes advice, super reforms

ANNABELLE DICKSON  |  FRIDAY, 26 FEB 2021
... reunited with members within 28 days. Two key pieces of legislation were passed yesterday: the Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020 and passed the Treasury Laws Amendment (Reuniting More Superannuation) Act 2021. ...

ASIC zeroes in on bad SMSF advice, conduct

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... oversee firms that provide financial service to trustees such as advisers, auditors and products that SMSFs invest in. The Hayne Royal Commission adjusted the roles of ASIC and APRA in superannuation. From 1 January 2021, ASIC was given more powers in ...