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Showing 121 - 130 of 858 results for %22Financial Regulator Reform%22

Taxpayer Bill of Rights recommended

ELIZABETH MCARTHUR  |  WEDNESDAY, 27 OCT 2021
... Business Register and minimise any ongoing costs of maintaining it. The ATO should provide more detailed reporting for each financial year to reflect both the number of complaints, feedback and compliments received, as well as the complaints resolved ...

No proof of member benefit: APRA on super fund spends

JAMIE WILLIAMSON  |  TUESDAY, 26 OCT 2021
APRA has found instances of expenditure by superannuation funds that does not meet the best financial interests of members, including sponsorship deals and advertising spends with no evidence of member benefit. Releasing its review of RSE licensee marketing ...

MetLife upgrades adviser platform

KARREN VERGARA  |  TUESDAY, 26 OCT 2021
MetLife Australia unveiled a new digital platform for financial advisers to cater to regulatory and product changes that took effect this month. Key product changes follow APRA's reforms to income protection which kicked off in October. The platform ...

Australian corporate bond overhaul

ELIZABETH MCARTHUR  |  TUESDAY, 26 OCT 2021
... non-rated bonds, so that a wider range of investors can access corporate bonds. Engagement with universities and the financial advisory industry to educate and raise awareness about corporate bonds, in particular retail corporate bonds. Lowering the ...

Better Advice Bill gets green light

KARREN VERGARA  |  FRIDAY, 22 OCT 2021
The landmark Better Advice Bill, which introduces a new disciplinary body, passed the senate overnight. Under the Financial Sector Reform (Hayne Royal Commission Response-Better Advice) Bill 2021 (Better Advice Bill), from 1 January 2022, the Financial ...

ASIC eyes employee super fund choice

KARREN VERGARA  |  MONDAY, 18 OCT 2021
... superannuation fund provider about influencing employees' choice of super funds. The regulator will conduct a review this financial year on how trustees abide by its requirements and may consider action where misconduct causing consumer harm is identified. ...

Industry mixed over FSC advice framework

ANNABELLE DICKSON  |  FRIDAY, 15 OCT 2021
The financial advice industry welcomes the Financial Services Council (FSC) recommendations to help reduce red tape and make financial advice more affordable, but one dealer group is unsure whether the FSC is trustworthy - particularly for risk advisers. ...

FSC advice reforms slash time, costs by 30%

KARREN VERGARA  |  TUESDAY, 12 OCT 2021
The reforms proposed by the Financial Services Council could reduce the time and cost to produce financial advice by more than 30% respectively. Modelling provided by KPMG Australia estimates that advisers incur $5334 to provide advice and spend 23.9 ...

FSC to ban occupational exclusions

ANNABELLE DICKSON  |  TUESDAY, 12 OCT 2021
The Financial Services Council (FSC) is introducing an enforceable standard that will prohibit the use of exclusions and restrictive disability definitions in default group life insurance for those who are in high-risk occupations. The standard will ...

AIOFP petitions to delay DDO, annual renewal

KARREN VERGARA  |  FRIDAY, 1 OCT 2021
The Association of Independently Owned Finance Professionals is calling on lawmakers to delay two major financial advice reforms until 2022 by launching an online petition. The AIOFP is seeking to delay the Design and Distribution Obligations and consent ...