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Showing 1 - 10 of 183 results for %22Commissioner Hayne%22

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... impose a civil penalty on accountable entities," Jones said. BEAR, the FAR's first iteration, was recommended by Commissioner Kenneth Hayne in a bid to regulate senior leaders of super funds, banks, insurers, and other APRA-regulated entities at ...

No regrets: Hayne reflects on Royal Commission

KARREN VERGARA  |  TUESDAY, 30 MAY 2023
... services sectors. Making a rare appearance at the International Congress of Actuaries in Sydney this morning, Commissioner Hayne said he has no regrets about how he helped reform the banking, superannuation, life insurance and financial advice industries. ...

QAR does not "trash" FoFA: Anderson

CASSANDRA BALDINI  |  TUESDAY, 7 MAR 2023
... explained the removal of Safe Harbour is a "key" part of the recommendation and something also suggested by Commissioner Hayne. "In December 2019, the ASIC Report 639 on advice provided by superannuation funds, found less than 50% of the files were deemed ...

BFID no hindrance to helping vulnerable members: Panel

CHLOE WALKER  |  WEDNESDAY, 7 SEP 2022
... senior manager, policy David Haynes said super funds could and should be doing more for vulnerable members, while ASIC commissioner Danielle Press agreed and pointed out that the best financial interests duty actually allows for different members to ...

ASIC response to Freedom Insurance saga continues

JAMIE WILLIAMSON  |  WEDNESDAY, 17 AUG 2022
... to additional requests from the family, including for an apology, before issuing an apology weeks before fronting Commissioner Kenneth Hayne. Three months later it ceased selling life insurance and flagged the likelihood of a liquidity crisis before ...

AFA hits back at QAR submissions from Choice, ISA

CASSANDRA BALDINI  |  MONDAY, 11 JUL 2022
... banning ongoing advice fees within Choice funds and banning life insurance commissions," the AFA noted. "It was Commissioner Hayne who recommended the banning of all advice fees in MySuper funds, this recommendation came from his lack of understanding ...

Calls for Indigenous super beneficiary changes renewed

ANDREW MCKEAN  |  MONDAY, 30 MAY 2022
... death. Scheerlinck said: "In 2019 Treasury held a consultation on this issue, which was also identified by Commissioner Hayne during the Royal Commission. There have been no developments here and we will lobby the new government to reprioritise this ...

Consumer advocates criticise advice review

ELIZABETH MCARTHUR  |  THURSDAY, 3 FEB 2022
... Consumer Action Law Centre has concerns that the Quality of Advice Review draft terms of references forget Commissioner Hayne's findings on conflicted remuneration. In the centre's submission on the review's draft terms of references, it argued conflicted ...

FASEA to reword Standard 3

KARREN VERGARA  |  WEDNESDAY, 3 NOV 2021
... "Standard 3 also seems to go beyond the recommendations of the Banking Royal Commission. In his final report, Commissioner Hayne posed the question: "Is there more that could be done to manage those conflicts better?"

CBA pleads guilty to selling junk insurance

ANNABELLE DICKSON  |  MONDAY, 1 NOV 2021
... conduct was revealed during the Royal Commission and was the subject of a case study in the final report from Commissioner Hayne. The charges also come after ASIC undertook a review of the sale of consumer credit insurance by 11 major banks and other ...
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