Search ResultsShowing 1 - 10 of 100+ results for "Senate"
APRA to boost staff numbers
HARRISON WORLEY  |  FRIDAY, 12 APR 2019
APRA has confirmed it will hire around 100 more permanent staff after its funding boost. In a planned statement to the Senate Economics Legislation Committee, APRA chair Wayne Byers revealed the prudential regulator is looking to hire 100 more ...
Banks push to leave vertical integration on the table
HARRISON WORLEY  |  WEDNESDAY, 10 APR 2019
... Australia's banks want to leave the door ajar for a return to the much maligned vertical integration model. As the Senate Standing Committees on Economics probe a Pauline Hanson bill looking to forcefully separate deposit taking banks from ...
APRA receives new super powers
KARREN VERGARA  |  FRIDAY, 5 APR 2019
... to further their own interests, the explanatory memorandum shows. "For serious contraventions, amendments made by the Senate to this Schedule that were tabled by the Opposition allow for a Court to fine the trustee or director up to 2,400 penalty ...
Don't expect super favouritism: Bowen
HARRISON WORLEY  |  MONDAY, 1 APR 2019
... would have forced super funds to report their performance for comparison with others. "Labor amended this bill in the Senate to make the outcomes test tougher, make director penalties higher and make APRA's powers stronger," he said. "Millions of ...
'Best in show' a no go: KPMG
JAMIE WILLIAMSON  |  WEDNESDAY, 27 FEB 2019
... the total number of APRA-regulated funds has dropped from 2149 to 2004. Last week APRA chair Wayne Byres told the Senate Economics Legislation Committee the regulator has "upped the ante" over the past year in identifying underperforming funds ...
Chief economist update: The Fed has hit neutral
BENJAMIN ONG  |  WEDNESDAY, 27 FEB 2019
... Jerome Powell's semi-annual testimony before the Committee on Banking, Housing, and Urban Affairs of the US Senate - turned out to be a bummer. We've seen this movie before. Copied and pasted below is an excerpt from his speech so ...
New reforms to smash major super funds
JAMIE WILLIAMSON  |  TUESDAY, 26 FEB 2019
... insight. More than five million superannuation accounts are set to benefit from the new legislation passed through the Senate last week, which includes the capping of fees at 3% for all accounts with a balance of $6000 or less. According to ...
MLC MySuper switches to lifestage
KANIKA SOOD  |  FRIDAY, 22 FEB 2019
... fees of 0.05% of the amount moved in or out, following the end to exit fees legislation for which was passed by the Senate on February 14. Rainmaker Information executive director of research and compliance Alex Dunnin said the changes appear to ...
More consolidation to come: APRA
JAMIE WILLIAMSON  |  FRIDAY, 22 FEB 2019
... do so. And a further three could also be headed for the exit door, APRA chair Wayne Byres said. Appearing before the Senate Economics Legislation Committee yesterday, Byres said the regulator has "upped the ante" over the past year in identifying ...
Group insurance reforms to be tabled
JAMIE WILLIAMSON  |  WEDNESDAY, 20 FEB 2019
... years of age. The measures form part of the wider Protecting Your Super package, the bulk of which was passed in the Senate last week. The measures being tabled today were lost in that round however, with changes being made to ensure the ...
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