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Royal Commission challenges super regulatorsBY KARREN VERGARA | TUESDAY, 28 AUG 2018 12:30PM
The Royal Commission cast serious doubts over the ability of APRA and ASIC to effectively regulate the superannuation industry, questioning their purpose in safeguarding retirement savings and the stability of the financial system.
Read more: ASIC, Superannuation, APRA, Westpac, Aon Hewitt, Royal Commission, Mercer, MySuper, NAB, Asgard Capital Management, BT Financial Group, Helen Rowell, IOOF, Kenneth Hayne, Michael Hodge, Trio Capital
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AIA Australia's newly launched advice business has named a chief executive to lead its efforts, as the life insurer brings some Commonwealth Financial Planning advisers into the fold.
Yesterday's Standing Committee hearings on financial advice suggested the corporate regulator and industry superannuation funds are the only ones benefiting from increasing costs.
The superannuation startup geared at self-employed workers is looking to raise $1.5 million, as it sets it sights on 60,000 members in five years.
The Australian Financial Complaints Authority (AFCA) has made changes to its procedures to weed out complaints where the consumer didn't really suffer any financial harm.
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