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Showing 1111 - 1120 of 2024 results for "Legislation"

Inquiry asks for greater simple bond red tape reduction

MARK SMITH  |  MONDAY, 8 DEC 2014
The cost of issuing corporate bonds for the retail market should be reduced further by amending the simple bond legislation to make disclosure less complicated, the Inquiry into the financial system has said in its final report. In one of its 44 recommendations ...

FSI favours Chile-style default super auction

JAMES FERNYHOUGH  |  SUNDAY, 7 DEC 2014
... the report included the creation of a set of objectives for the superannuation system which would be enshrined in legislation. The report also recommended mandating super funds to offer a quasi-default retirement income stream product, which all members ...

Financial System Inquiry recommendations wrap

STAFF WRITER  |  SUNDAY, 7 DEC 2014
... management industries. Objectives of the superannuation system: Seek broad political agreement for, and enshrine in legislation, the objectives of the superannuation system and report publicly on how policy proposals are consistent with achieving these ...

New FoFA likely to increase advice costs

LAURA MILLAN  |  FRIDAY, 5 DEC 2014
The latest changes to the Future of Financial Advice (FoFA) legislation have brought back the opt-in requirement, which will force planners to spend more time on paperwork and raise their fees charged to clients as a consequence. A survey by consultancy ...

Industry welcomes grandfathering deal

LAURA MILLAN  |  WEDNESDAY, 26 NOV 2014
... and Labor to fix the unintended consequences of scrapping grandfathering from the Future of Financial Advice (FoFA) legislation. The Financial Planning Association (FPA) chief executive Mark Rantall noted that the move "will ensure competition in the ...

AIST lobbies govt to keep LISC payment disclosure

JAMES FERNYHOUGH  |  WEDNESDAY, 26 NOV 2014
... more than three million, should know exactly how much they are receiving. However, the government is moving repeal legislation that require LISC payments to be disclosed separately. In the future they would be bundled with other super concessional payments ...

Independent dealer groups eye Genesys practices

LAURA MILLAN  |  TUESDAY, 25 NOV 2014
... difficult because of the recent disallowance to the government's changes to the Future of Financial Advice (FoFA) legislation. As a consequence of the disallowance, the regulation that fixed the grandfathering issue is not in place anymore and advisers ...

FPA shines light on "catch-all" dilemma

LAURA MILLAN  |  TUESDAY, 25 NOV 2014
... session at the FPA Congress in Adelaide. They noted that the disallowance of the government's changes to the FoFA legislation have brought back the "catch-all" provision in section 961(2)(g) of the best interests duty, which adds a very general clause ...

Grandfathering set to become next advice battlefield

LAURA MILLAN  |  FRIDAY, 21 NOV 2014
... opposition to address the sudden disallowance of the government's changes to the Future of Financial Advice (FoFA) legislation. "We are quite confident that we'll get the grandfathering provisions sorted out," Financial Planning Association (FPA) chief ...

FoFA opt-in to cause advisers biggest headache

JAMES FERNYHOUGH  |  THURSDAY, 20 NOV 2014
... "I think that the reinstatement of best interest duty is fine and will work okay. However, it's the ill-conceived legislation that is the opt-in duty that's going to be problematic for businesses to implement. "It's difficult to run a business where ...