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Showing 91 - 100 of 539 results for "Supervision"

ASIC proposes five-year extension to DDO

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
... certain RSE licensee directors from the change of control and ownership provisions of the Superannuation Industry (Supervision) Act 1993 (SIS Act). Effective immediately, this exemption eliminates the need for certain RSE licensee directors to seek approval ...

APRA finalises framework for MySuper products

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
... director of superannuation Carmen Beverley-Smith, the determination, under the ambit of the Superannuation Industry (Supervision) Regulations 1994, focuses on RSE licensees, particularly those offering a blend of MySuper and lifecycle products. The crux ...

FRAA provides roadmap for improved super regulation by APRA

ANDREW MCKEAN  |  FRIDAY, 14 JUL 2023
The Financial Regulator Assessment Authority (FRAA) has affirmed the effectiveness of APRA in superannuation supervision, while identifying underdevelopment in the regulator's resolution function. The FRAA tabled five recommendations for APRA to enhance ...

Federal Reserve plans upping capital requirements

CASSANDRA BALDINI  |  TUESDAY, 11 JUL 2023
... would be forced to hold more capital in hopes future meltdowns in the sector can be prevented. Federal vice chair for supervision Michael Barr outlined a plan in which large banks with more than US$100 billion in total assets would be required to hold ...

Adviser levy tripled, labelled "deeply unfair"

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... year was $56.7 million. Breaking down the $55.5 million, ASIC said enforcement would cost about $18.1 million and supervision and surveillance would cost $9.5 million. The balance is split across other regulatory activities like industry engagement and ...

Trustees must do better on account consolidation: ASIC

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... member accounts, with an ASIC review forcing some trustees to remediate members. Under the Superannuation Industry (Supervision) Act 1993, super trustees must have processes in place to tackle multiple accounts within a fund where it is deemed to be ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... example, crypto assets and buy now pay later (BNPL) do not sit within the existing system of licensing, registration, and supervision - and therefore, do not form part of or are not explicitly captured by the existing model, he said. As such, the government ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
... 2023. The FSCP typically oversees lesser offences and can issue warnings or reprimands; order mandatory training, supervision, counselling or reporting; and suspend or cancel registrations. It can also issue an infringement notice or recommend that ASIC ...

Cheques to wind down by 2030: Chalmers

CASSANDRA BALDINI  |  THURSDAY, 8 JUN 2023
... explained. Further, he highlighted points around reducing scams, strengthening cyber-security, and updating the RBA's supervision frameworks as well as revamping digital payments. "While the RBA will be adjusting its supervision of the payments system ...

Vanguard fined for defective account statements

KARREN VERGARA  |  MONDAY, 5 JUN 2023
... compliance with applicable securities laws and regulations, and with applicable FINRA rules. A firm's duty of supervision includes the responsibility to reasonably investigate red flags that suggest misconduct may be occurring."