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Showing 111 - 120 of 1749 results for "Disclosure"

Spirit Super rectifies regulatory breach

ANDREW MCKEAN  |  TUESDAY, 30 MAY 2023
... members. Last month, the industry fund acknowledged that it had inadvertently omitted some fees and costs from its product disclosure statement (PDS), resulting in a breach of RG97 legislation. This law mandates that funds disclose the amounts deducted ...

Treasury hands PwC tax scandal to AFP

CASSANDRA BALDINI  |  THURSDAY, 25 MAY 2023
... Practitioners Board (TPB) tabled in Parliament on 2 May 2023 highlighted the significant extent of the unauthorised disclosure of confidential Commonwealth information and the wide range of individuals within PwC who were directly and indirectly privy ...

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
The Australian Financial Complaints Authority (AFCA) has shed light on what it considers systemic shortcomings in the superannuation, investment, and financial advice industries. The AFCA Systemic Issues Insights report identified multiple instances ...

BNPL to be regulated under Credit Act

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
... statutory dispute resolution and hardship requirements. Further, BNPL provides will need to comply with statutory product disclosure as well as other information obligations, abide by existing restrictions on unacceptable marketing and meet a range of ...

Vanguard restructures retail unit, creates executive roles

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... the local product suite, including the Personal Investor platform and super, as well as product pricing, governance, disclosure and business enablement. Lakshi Prabhakaran takes on the role of head of enterprise risk for Australia, replacing Jacques. ...

Australia lags in global fund disclosure: Morningstar

ANDREW MCKEAN  |  THURSDAY, 18 MAY 2023
Australia's fund disclosure regime ranks weakest in the developed world, leaving investors in the dark. According to a Morningstar Global Investors Experience report, Australia falls behind other developed markets in terms of managed fund and superannuation ...

Abolishing FDSs a major win: Panel

KARREN VERGARA  |  TUESDAY, 16 MAY 2023
The Quality of Advice Review's recommendation to abolish Fee Disclosure Statements would be a major win for financial advisers as many continue to grapple with providing accurate documents to clients. The Financial Advice Association Australia general ...

HCF Life under ASIC surveillance

CASSANDRA BALDINI  |  FRIDAY, 12 MAY 2023
... pre-existing condition. ASIC reinforced: "s47 of the Insurance Contacts Act prevents insurers from excluding coverage for non-disclosure of a pre-existing condition where the customer was unaware of the condition when taking out the insurance, and a ...

Industry funds' illiquid assets scrutinised

ANDREW MCKEAN  |  THURSDAY, 11 MAY 2023
... daily, raising critical questions about liquidity. Despite requirements under SPG530 - Investment Governance, public disclosure on liquidity stress-testing is relatively scarce. Morningstar Australasia director Annika Bradley has examined the "unlisted ...

Supercharging Australia's climate investment action

ALEX DUNNIN  |  TUESDAY, 9 MAY 2023
... Plan. To ensure investor and community confidence in many aspects of these programs, the government will enhance the disclosure frameworks encapsulated within the 2023 Safeguard Mechanism legislation. For example, it will develop a purpose-built Sustainable ...