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Showing 91 - 100 of 521 results for "Powers"

Adviser standards consultation commences

JAMIE WILLIAMSON  |  THURSDAY, 25 AUG 2022
... pathway," the consultation paper reads. Finally, Treasury has proposed that it may be required that regulators be provided new powers in dealing with any potential future misconduct that an adviser who has accessed this pathway may be found guilty of. ...

APRA releases annual corporate plan

CASSANDRA BALDINI  |  MONDAY, 8 AUG 2022
... of trustees of products that fail the performance test or otherwise demonstrate poor performance and use its prudential powers to take action against trustees where warranted. It added that it will accelerate beneficial industry consolidation to establish ...

Advisers receive guidance on rights under FSCP

JAMIE WILLIAMSON  |  THURSDAY, 4 AUG 2022
... advisers who are subject to a hearing or disciplinary measure. In December, ASIC outlined the operations of the FSCP and what powers it has been afforded. In an update, ASIC has now provided further detail as to what instances may lead to a panel being ...

ASIC issues first DDO stop orders

JAMIE WILLIAMSON  |  THURSDAY, 28 JUL 2022
Flexing its powers for the first time, ASIC has issued stop orders to three companies over deficiencies in their products' target market determinations. In what marks its first use of its stop order powers under the design and distribution obligations ...

Global fintech Smart expands pension offering to Australia

CASSANDRA BALDINI  |  TUESDAY, 12 JUL 2022
... Global retirement technology provider Smart is expanding to Australia, establishing an office in Melbourne. Smart technology powers UK Smart Pension, a digitally led pension and retirement scheme setup for employers. The Australian business will operate ...

Super trustees face rough seas ahead: Byres

ANDREW MCKEAN  |  FRIDAY, 24 JUN 2022
... performance. In the name of driving improved member outcomes, Byre's said APRA is unapologetic about making use of its new powers. Byres said: "Parliament didn't give them to us only to have them gather dust." "These powers are important for ...

Super funds to reach $1tn by 2040: KPMG

ANDREW MCKEAN  |  FRIDAY, 27 MAY 2022
... metrics compared to just under a quarter of large funds over $50 billion in size. APRA has confirmed it's seeking greater powers to force mergers and as such KPMG expects upward consolidation trends to continue for a number of years. Of note, over 2020/2021 ...

ATO slammed for failing to collect billions in unpaid super

ANDREW MCKEAN  |  MONDAY, 2 MAY 2022
... office's report is a damning indictment on the tax office compliance activity, finding it failed to use all its collection powers, does not have enough resources to proactively hunt those ripping workers off." ISA chief executive Bernie Dean said: "Yet ...

NAB evades AUSTRAC fine for non-compliance

ANDREW MCKEAN  |  MONDAY, 2 MAY 2022
... "When these obligations are not met, AUSTRAC will not hesitate to draw on our range of regulatory tools and enforcement powers to maintain public confidence in Australia's financial system." In a statement today, NAB chief executive Ross McEwan commented ...

ASIC consults on FSCP sittings

KARREN VERGARA  |  TUESDAY, 1 MAR 2022
... March 28 to provide a submission. The passage of the Better Advice Bill gave the FSCP its own legislative functions and powers, which took effect on 1 January 2022, to address financial adviser misconduct. The panel in February named 31 part-time members ...