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Showing 121 - 130 of 521 results for "Powers"

YFYS on its way to Senate

KANIKA SOOD  |  FRIDAY, 4 JUN 2021
... The Australian Institute of Superannuation Trustees chief executive Eva Scheerlinck welcomed the culling of government's powers, but said the bill still had flawed measures. "The amendments to the bill don't change the fact that this piece of legislation ...

Actuaries Institute unveils IDII recommendations

KARREN VERGARA  |  MONDAY, 24 MAY 2021
... is proportional to its value to the customer in terms of claims payments. The taskforce supports APRA's intervention powers in the sector. APRA gave life insurers another year to have the new measures for IDII in full force by 1 October 2022. Formed ...

Fund manager hit with serious charges

KARREN VERGARA  |  FRIDAY, 21 MAY 2021
... affairs. The court determined that Holly Grofski, the fund's investment and risk management director, carried out her powers and discharged her duties dishonestly or recklessly. In the second charge, she gave false information to the auditors of ...

Labor to push for YFYS stapling amendments

KANIKA SOOD  |  WEDNESDAY, 19 MAY 2021
... Lastly, it will push for the Best Financial Interest Duty to include a materiality threshold, and to remove the directions powers. "Absolute crock, unnecessary extraordinary overreach. And it will usher in an era of red tape and bureaucracy that has ...

Aussies regret ERS withdrawals: AIST poll

KANIKA SOOD  |  TUESDAY, 18 MAY 2021
... gender super gap, Treasury's proposed changes to proxy voting, and the Your Future, Your Super reforms' "ministerial powers" to ban investments. She noted that while SG will increase to 10% from July 1, the government hasn't publicly affirmed ...

Advice practices set to benefit from tax cuts

KARREN VERGARA  |  WEDNESDAY, 12 MAY 2021
... businesses in dispute with the ATO will get a fairer go. The Administrative Appeals Tribunal (AAT) will now have greater powers to pause or change debt recovery actions applying to a small business in dispute with the ATO. "Small businesses disputing ...

Key Treasury initiatives outlined

JAMIE WILLIAMSON  |  TUESDAY, 11 MAY 2021
... within budget documents are several steps the government will take to further boost our financial system, including greater powers for regulators and $11.2 million to enhance super fund member outcomes. While far from the headline measures introduced ...

Government opens consultation on key advice reforms

JAMIE WILLIAMSON  |  MONDAY, 19 APR 2021
... single disciplinary body does not change ASIC's ability to impose banning orders, however ASIC may delegate its banning powers to the FSCP, a Q&A on the draft legislation reads. The draft legislation also introduces a new annual registration system ...

ASIC releases fee consent instrument

ELIZABETH MCARTHUR  |  THURSDAY, 25 MAR 2021
... industries and ensuring customers receive the information that is relevant to them," the regulator said. "ASIC does not have powers to provide exemptions from the new advice fee consents and independence disclosure requirements or to modify how the requirements ...

Admin fees could balloon from BFID

KARREN VERGARA  |  TUESDAY, 16 MAR 2021
... members and any future spending will continue to have to pass that test. "But we are concerned with new regulatory-making powers that would allow the government to ban fund activity and investment even if it is in the best financial interest of members. ...