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Whistleblower protections under microscope

DARREN SNYDER  |  TUESDAY, 20 DEC 2016
... Corporations Act 2001 and similar provisions under other financial system legislation administered by ASIC and APRA which apply to corporations; canvasses a proposal for tax legislation to introduce specific protections for whistleblowers; and identifies ...

ANZ and Macquarie fined for cartel conduct

DARREN SNYDER  |  THURSDAY, 15 DEC 2016
... undermine the integrity of foreign exchange markets and undermine healthy economic growth. Australia's strong cartel laws apply equally across the economy, including in the banking sector." In his judgment, Justice Wigney stated: "There could be little ...

Super clarity presents adviser opportunity

KERRIE SYDEE  |  FRIDAY, 9 DEC 2016
... opportunity for financial advisers to help clients navigate their way to achieving goals. The largest of the changes will apply from July 2017 and will see a maximum of $1.6 million that can be transferred into a tax free pension account. After this ...

False information undermining ASIC integrity

KERRIE SYDEE  |  THURSDAY, 8 DEC 2016
... increase in AFS licence applications as a result of the expiry (in June 2016) of the transition period for accountants to apply for a limited licence," the report justified. Close to 40% of applicants for limited Australian financial services licences ...

ASIC probe reveals 185 more CBA compo cases

KERRIE SYDEE  |  TUESDAY, 6 DEC 2016
... Overall the report found that "in most instances" CFP and FW have complied with their licence obligations to consistently apply a remediation program to customers of the 15 advisers. However the report identified that in some instances the licensees ...

Super slow to embrace advice opportunity

ALEX BURKE  |  FRIDAY, 2 DEC 2016
... interactions and creating digital opportunities through the customer journey will be key moving forward. This will also apply to how funds elect to digitally engage with employers," IQ Group chief executive Brian Peters said. "The study clearly shows ...

ASIC falls on fund disclosure sword

DARREN SNYDER  |  WEDNESDAY, 30 NOV 2016
... implementation issues the industry is facing. "This is a complex and detailed area of regulation, which is proving difficult to apply in some areas and where there are still some uncertainties. This extension is a practical and welcome response from ...

SMSFs encouraged to embrace fintech

DARREN SNYDER  |  FRIDAY, 25 NOV 2016
... investment committee expertise, have a fund manager offer a model portfolio of direct assets in their area of expertise, or apply individual asset selection," she said.

ACCC slams Macquarie and ANZ for cartel conduct

ALEX BURKE  |  FRIDAY, 25 NOV 2016
... Macquarie has submitted a penalty of $6 million (also plus costs). "These proceedings are a reminder that Australian cartel laws apply to financial markets, and capture cartel conduct by firms that carry on business in Australia, regardless of where ...

CFS introduces same day RoA functionality

KERRIE SYDEE  |  WEDNESDAY, 23 NOV 2016
... switches in FirstNet Adviser," Harrison added. Following the enhancements advisers can now create one investment portfolio and apply it to many clients, while detailing a RoA for each and leave the transactions pending before submitting a bulk switch. ...