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Showing 1051 - 1060 of 6076 results for "Commission"

Class action launched against OnePath

ELIZA BAVIN  |  TUESDAY, 5 JAN 2021
... 2020, this makes the fifth class action launched by the law firm in response to the revelations arising from the Royal Commission. The class action alleges that OnePath Custodians breached its duties as trustee of various superannuation funds by charging ...

ASIC slams auditors

KARREN VERGARA  |  WEDNESDAY, 23 DEC 2020
The corporate regulator has lambasted the major auditors for sloppy work, and poor governance and accountability practices. A sample of audits for the six months to June 2020 questions the quality and integrity of audit services. In aggregate, ASIC ...

ASIC to review impact of ASX outage

KANIKA SOOD  |  TUESDAY, 22 DEC 2020
In 2021, ASIC will review how market participants adapted to the ASX's outage in November, and if they and the ASX violated their market operating licences. On November 16 at 10:24 am, ASX halted trading on ASX Trade after switching to new systems ...

Hume promoted to cabinet

ANNABELLE DICKSON  |  MONDAY, 21 DEC 2020
The assistant minister for superannuation, financial services and financial technology has been promoted to ministry in an expanded role that will see her take on responsibility for the digital economy. Prime Minister Scott Morrison announced Jane Hume ...

Almost 3000 advisers gone in 2020

ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
... 123 and 51, respectively. Demonstrating the exodus of the big banks from wealth management in the wake of the Royal Commission, National Australia Bank lost 245 advisers; ANZ Group lost 162 and Commonwealth Financial Planning lost 125. Merit Wealth was ...

FS team picks: The top stories for 2020

ELIZABETH MCARTHUR, KANIKA SOOD  |  THURSDAY, 17 DEC 2020
... those suffering as a result of the pandemic to access their super early. And, as the dust settled following the Royal Commission and Hayne's recommendations moved towards becoming law the industry still had its share of issues. ASIC chair James Shipton ...

ATO backs SMSFs as strong retirement choice

ELIZA BAVIN  |  THURSDAY, 17 DEC 2020
The Australian Taxation Office assistant commissioner said he is focused on ensuring SMSFs remain a strong and credible retirement planning choice for Australians going forward. In an end of year message, assistant commissioner Justin Micale said as ...

Reporting rules for charities relaxed

KANIKA SOOD  |  WEDNESDAY, 16 DEC 2020
... smaller charities was recommended by a 2018 review of the charity regulator Australian Charities and Not-for-Profits Commission's legislation. It said the regulatory burden on charities should be reduced while retaining transparency and trust. "The reforms ...

Regulators alert trustees of new obligations

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
The financial services and superannuation regulators have expressed their expectations to trustees on the new member outcomes, and product design and distribution obligations. In a letter to trustees co-signed by APRA deputy chair Helen Rowell and ASIC ...

ACCC gives IOOF go ahead

ANNABELLE DICKSON  |  TUESDAY, 15 DEC 2020
The Australian Competition and Consumer Commission (ACCC) has given its blessing for IOOF to acquire MLC Wealth as the combined firm will face competition in all aspects of wealth management. The consumer watchdog said it does not oppose IOOF's $1.4 ...