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Showing 91 - 100 of 422 results for %22Financial System Inquiry%22

Opposition floats SMSF borrowing ban

EMMA RAPAPORT  |  FRIDAY, 21 APR 2017
... housing market driven by wealthy SMSFs," Bowen said. The policy is backed by the head of the government's financial system inquiry, David Murray, who recommended the general ban on direct borrowing by SMSFs to mitigate the risk of financial instability. ...

Unconscionable super cross-selling will continue: ISA

KARREN VERGARA  |  THURSDAY, 20 APR 2017
... Super Australia chief executive David Whiteley said super should logically be subject to stronger protections than other financial products. "It is a tall order to ask staff to both meet sales targets and genuinely serve customer needs when the products ...

Westpac deputy chief executive retires

KARREN VERGARA  |  WEDNESDAY, 15 MAR 2017
... challenges and opportunities," Hartzer said. Coffey oversaw Westpac's contribution to the Federal Government's Financial System Inquiry and is currently leading work underway to rebuild customer trust, Hartzer said. Coffey said: "Westpac has given me ...

NAB chief promises greater accountability

KARREN VERGARA  |  MONDAY, 6 MAR 2017
... Committee on Economics, representing the first of the four major banks in an effort to review Australia's banking and financial system. Of the 1138 employees, who breached the bank's code of conduct during the 2016 financial year, only two senior managers ...

Confusion reigns in super and life insurance: CHOICE

EMMA RAPAPORT  |  MONDAY, 27 FEB 2017
... earn an extra $1600 a year in retirement income if superannuation was simplified. "Modelling from the Financial System Inquiry found that removing duplicate accounts could increase superannuation balances at retirement by around $25,000 and retirement ...

Senate committee files views on super objective

EMMA RAPAPORT  |  THURSDAY, 16 FEB 2017
... increased to 12%, and made specific reference to the lack of consultation which occurred through the Murray Financial System inquiry. The majority of submitters welcomed the introduction of an independent monitoring and review system to assess the performance ...

APRA urges banks to raise capital

EMMA RAPAPORT  |  MONDAY, 13 FEB 2017
... APRA's agenda for 2017, including their main policy item of implementing the first recommendation of the Financial System Inquiry; forcing big banks to raise more capital. Byres noted while APRA had been holding off until the work in Basel on the bank ...

Government to aid growth of social impact investment

EMMA RAPAPORT  |  MONDAY, 30 JAN 2017
... investment market growth and determine possible regulatory barriers, marking the next step in implementing the Financial System Inquiry's recommendations. In the government's 'Social Impact Investing' discussion paper released on Saturday, Treasurer ...

Industry funds blame ATO for super underpayment

EMMA RAPAPORT  |  WEDNESDAY, 25 JAN 2017
... are required to pay 9.5% of an employee's salary into superannuation accounts. The ATO said in its submissions that financial literacy, irregular employment, and a profound lack of knowledge about superannuation each identified as barriers to active ...

Government shelves ASIC register sale

ALEX BURKE  |  WEDNESDAY, 21 DEC 2016
... register. Davis, who is the research director at the Australian Centre for Financial Studies and a former Financial System Inquiry panellist, said the Government's proposed model would "involve the private operator relying on revenue from sale of information ...