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Showing 111 - 120 of 557 results for "Supervision"

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."

Finfluencers bridge financial advice gap

KARREN VERGARA  |  THURSDAY, 18 MAY 2023
... collaborate with others was a logical extension," Scully says. "The question is, how do I satisfy my monitoring and supervision obligations as an AFSL holder and still meet the spontaneity and authenticity that you need in social media?" As a result ...

AustralianSuper mistake spurs call for regulatory intervention

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... has sparked a call for greater transparency and action by regulators. Section 108A of the Superannuation Industry (Supervision) Act was introduced in 2013, mandating funds undertake intra-fund consolidation, identifying and merging individuals' multiple ...