Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 121 - 130 of 603 results for section

ASIC warns trustees on employer inducements

KARREN VERGARA  |  THURSDAY, 1 AUG 2019
... improper incentives in the form of goods and services when selecting or retaining a default super fund provider is illegal. Section 68A the Superannuation Industry (Supervision) Act 1993 was recently amended to facilitate the provision. The new law is ...

APRA sticks to rigid member outcomes deadline

KARREN VERGARA  |  FRIDAY, 12 JUL 2019
... test complying with its obligations, the fees rules and the general fees rules in relation to MySuper products. A new section has been introduced, which seeks information from previous applicants, or applicants seeking authority to offer an existing ...

TAL offers advisers ethics assistance

HARRISON WORLEY  |  TUESDAY, 4 JUN 2019
... Professional Development (CPD) hours in 'Professionalism and Ethics' and pass a FASEA examination, which consists of a section on 'Applied Ethical and Professional Reasoning.'" There are currently very few resources available to support financial advisers ...

Former Beacon adviser banned

KANIKA SOOD  |  FRIDAY, 24 MAY 2019
... permanently earlier this month. The banning order was made under the Corporations Act 2001 sections 920A(1) and 920B(2). Section 920A gives ASIC the power to ban a person for reasons that include: failing to comply with licensee obligations; cancellation ...

CBA down, industry up for employment

ELIZABETH MCARTHUR  |  FRIDAY, 17 MAY 2019
... ranking, financial institutions do not find themselves short of candidates. Ribuot is of the opinion that there is a certain section of the population who will never want to work in the sector because they feel that it does not align with their values ...

Time ticks by on FASEA approvals

HARRISON WORLEY  |  THURSDAY, 16 MAY 2019
... assessment of graduate diploma and bridging course applications by "late May 2019," according to the frequently asked questions section of its website. The update came after the Ethics Centre said earlier this week it would develop a "FASEA accredited," ...

Superannuation mergers strike oligopoly fears

KARREN VERGARA  |  TUESDAY, 23 APR 2019
Concern the superannuation industry will become an oligopoly like the banking sector is being fuelled by the regulators' new powers and increased funding, specifically aimed at forcing underperforming funds to merge or shut down. Of the $400 million ...

Government bans superannuation funds treating employers

KARREN VERGARA  |  WEDNESDAY, 10 APR 2019
... Royal Commission, questioning its annual $260,000 spend on hosting employers at the Australian Open Tennis. Hayne said Section 68A of the SIS Act does not go far enough in preventing "treating" employers and called for the Act to be amended to include ...

APRA receives new super powers

KARREN VERGARA  |  FRIDAY, 5 APR 2019
... imprisonment. Rowell commented: "The new civil penalties that may be imposed on trustees and directors for breaches of their section 52 and 52A duties will attract both civil and criminal consequences. This, combined with the broader directions power ...

AFA takes red pen to Hayne report

HARRISON WORLEY  |  WEDNESDAY, 20 MAR 2019
The Association of Financial Advisers has stepped up its opposition to the Royal Commission's final report, claiming the inquiry failed to acknowledge the value of advice. In a paper released by the association this week, AFA general manager policy ...