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Showing 131 - 140 of 1236 results for %22Royal Commission%22

Global firm expands into Aussie wealth management

ELIZABETH MCARTHUR  |  FRIDAY, 17 SEP 2021
... outcomes." Kent added that she sees significant opportunities for the firm to expand in Australia. "Fuelled by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, the Australian wealth and asset management ...

ASIC urged to act on common ownership

KARREN VERGARA  |  FRIDAY, 10 SEP 2021
... very few actually hand all of their voting powers to a single entity," she said. MP Andrew Leigh said the Hayne Royal Commission criticised ASIC for being slow to act on emerging issues. "I worry that on common ownership, [ASIC] is making the same mistake," ...

Former Macquarie chief to head ASIC, APRA regulator

ANNABELLE DICKSON  |  FRIDAY, 10 SEP 2021
... Lynch (Australia). The government established the FRAA in response to recommendations 6.13 and 6.14 of the Hayne Royal Commission. Recommendation 6.13 is to subject APRA and ASIC to a capability review every four years while 6.14 is to establish a new ...

Colonial First State faces penalties for MySuper conduct

KANIKA SOOD  |  WEDNESDAY, 8 SEP 2021
... to the default MySuper product. The incidents relate to the period between 18 March 2014 and 21 July 2016. The Royal Commission referred the conduct to ASIC in February 2019 and ASIC filed the case a year later, in March 2020. A few months later, in ...

ASIC to ease hardline stance

KARREN VERGARA  |  FRIDAY, 27 AUG 2021
The federal government is expecting ASIC to tone down its regulatory powers even though the Hayne Royal Commission exposed its ineffectiveness at enforcing corporate law. Federal treasurer Josh Frydenberg overnight released a new set of expectations ...

Benefits of advice reforms yet to materialise

KARREN VERGARA  |  TUESDAY, 24 AUG 2021
... industry over the last 30 months. This averages to 300 advisers leaving the industry each month. Since the 2017-19 Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, an overhaul of the advice sector has become ...

Updated life code released

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 AUG 2021
... life insurance industry, ASIC reviews, Productivity Commission reports, feedback from consumer advocates and the Royal Commission. "The code, which is mandatory for all FSC's life insurance members and will be governed by the independent Life Code Compliance ...

AMP flags recovery, profit jumps

KARREN VERGARA  |  THURSDAY, 12 AUG 2021
... performances from AMP Bank and its stakes in Resolution Life and the China Pension Life Company. In the pre-Hayne Royal Commission days, AMP boasted a 2017 half-year NPAT of $533 million, while its share price traded over $5. AMP shares closed at $1.08 ...

Multiple accounts already in sharp decline

ELIZABETH MCARTHUR  |  THURSDAY, 12 AUG 2021
... the compounding of their retirement savings. This number of accounts slowly declined over the years until 2019 - after the Royal Commission's final report - when the number of accounts in the system sharply decreased. As of June 2020, there were ...

Booming market for financial services jobs

ELIZABETH MCARTHUR  |  TUESDAY, 10 AUG 2021
... and audit. "This has been a 20% increase overall in requests for risk and compliance professionals since the Royal Commission," Chisholm said. The average salary for roles Kaizen observed in the market last quarter was $139,000 and the highest salary ...