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

Search Results

Showing 81 - 90 of 141 results for "Kenneth Hayne"

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
The business model under fire for much of the Royal Commission has escaped punishment in Kenneth Hayne's final report. In handing over his 76 recommendations to improve the banking and financial services industry in Australia, Hayne avoided calling ...

Conflicts of interest recommendation falls short

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... suggested by some to address conflicts of interest at the heart of most misconduct, ISA said. However, Commissioner Kenneth Hayne did point out in the final report that conflicts of interest arise in both profit-for-member funds and retail funds. "In ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
Commissioner Kenneth Hayne took a hard-line against hawking superannuation products and the practices of "treating" employers in his final Royal Commission report. Hayne wants the hawking or unsolicited offer of superannuation products to be prohibited ...

Life risk commissions must also go: Hayne

KANIKA SOOD  |  MONDAY, 4 FEB 2019
Commissioner Kenneth Hayne has recommended ASIC ultimately whittle down the commissions on life insurance products to zero unless there is a clear justification to keep them. On 1 January 2018, advisers' upfront commission for implementing a life ...

Harder for insurers to dodge claims

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... recommendations on Australia's insurance industry - all of which the government has agreed to implement. Commissioner Kenneth Hayne has asked that the process of handling and settling insurance claims should not be excluded from the definition of ...

Misconduct must end: Frydenberg

DARREN SNYDER  |  MONDAY, 4 FEB 2019
... put the blame of industry misconduct solely on Australia's financial services companies, quoting Commissioner Kenneth Hayne to say "there can be no doubt that the primary responsibility for misconduct in the financial services industry lies with ...

Grandfathered commissions to be banned

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... for the period 1 July 2019 to 1 January 2021. The removal of the payments was a key recommendation of Commissioner Kenneth Hayne's report, saying there is no justification for grandfathering provisions in an industry that is trying to remove conflicts ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
... Releasing his final report into Misconduct in the Banking, Superannuation and Financial Services Industry, Commissioner Kenneth Hayne recommended a new three-person oversight authority would assess the effectiveness of APRA and ASIC in meeting their ...

Ongoing service arrangements should be tightened: Hayne

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
An overhaul of ongoing fee arrangements has been recommended by Commissioner Kenneth Hayne to combat fees for no service conduct. The final report of the Royal Commission has recommended ongoing fee arrangements should be renewed annually by clients. ...

Royal Commission principles not simply an add-on

DARREN SNYDER  |  MONDAY, 4 FEB 2019
... Partners. Speaking ahead of the Royal Commission's final report, due at 4.10pm today, Longstaff said Commissioner Kenneth Hayne made it clear he's not interested in more laws to govern compliance, rather it's about where do firms sit in regards to community ...