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Showing 1041 - 1050 of 2662 results for "SEPA"

APRA could oversee stalled super fund mergers

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
The financial services Royal Commission has suggested APRA's proposed new powers could be used to address stalled super fund mergers. The Parliament is currently waiting to pass a number of changes to the Superannuation Industry (Supervision) Act (SIS ...

Platforms steady after Royal Commission

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
Platforms at the big four banks, AMP and IOOF can breathe a sigh of relief after the Royal Commission's final report. Commissioner Kenneth Hayne did not recommend either structural separation or wider approved product lists. And this could slow ...

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
ASIC's enforcement arm must wrangle more muscle but it should be separated from the regulator's day-to-day dealings with its subjects, the Royal Commission final report said. Commissioner Kenneth Hayne said when ASIC identifies misconduct, its starting ...

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 ...

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 ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Royal Commission final report recommends the roles of ASIC and APRA be adjusted when it comes to superannuation oversight. A new independent body will also oversee the regulators. Releasing his final report into Misconduct in the Banking, Superannuation ...

Former ACCC chair will lead APRA capability review

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Federal Government has appointed a former Australian Competition and Consumer Commission chairman to lead a capability review of the Australian Prudential Regulation Authority. Responding to the Royal Commission's final report into Misconduct ...

Outflows dent IOOF advice, funds businesses

KARREN VERGARA  |  MONDAY, 4 FEB 2019
IOOF recorded net outflows of $481 million in its financial advice and funds management businesses during the final quarter of 2018. The advice business suffered $295 million of net outflows despite completing the transition of 661 former ANZ-aligned ...

Synchron renews calls on risk advice separation

KANIKA SOOD  |  FRIDAY, 1 FEB 2019
Synchron director Don Trapnell is sticking by his long-held view that if risk advice and financial advice are not separated, dedicated risk advisers will exit the industry in droves. "Australians need access to both life insurance advisers and financial ...

Janus Henderson pulls out of Aussie equities

KANIKA SOOD  |  THURSDAY, 31 JAN 2019
Janus Henderson Investors is shutting down its Australian equities funds and will return about $490 million of capital to investors. "Over the past 18 months, the manager's Australian equity (AEQ) investment desk has found it challenging to meaningfully ...