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Showing 1531 - 1540 of 3918 results for "law"

ASIC warns trustees on employer inducements

KARREN VERGARA  |  THURSDAY, 1 AUG 2019
... reinforcing the illegality of superannuation funds inducing employers and the serious consequences that come with breaching the new law. ASIC released Infosheet 241 on Wednesday, reminding trustees that influencing employers via improper incentives in ...

Final nail in the coffin for grandfathered commissions

KANIKA SOOD  |  TUESDAY, 30 JUL 2019
The government will introduce legislation this week to end the payment of grandfathered commissions to financial advisers by 1 January 2021. Federal Treasurer Josh Frydenberg and assistant minister for superannuation, financial services and financial ...

All options open for retirement income review

HARRISON WORLEY  |  FRIDAY, 26 JUL 2019
... actioning and are not going to limit it. "But the government's policy, let me be very clear, is what is set out in what the law of this country is and our policy hasn't changed." Despite Morrison's assertion, the industry has swiftly responded to ...

Government to close super salary sacrifice loophole

KARREN VERGARA  |  THURSDAY, 25 JUL 2019
... an employee's ordinary time earnings (OTE) base to a complying superannuation fund or retirement savings account, the new law proposes. "An employee's OTE base is comprised of their OTE and any amounts sacrificed into superannuation that would have been ...

Sam Henderson cops ASIC ban

KANIKA SOOD, JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2019
... in two Financial Services Guides given to them. ASIC commissioner Danielle Press said: "Financial advisers are required by law to act in the best interests of their clients and prioritise clients' interests over their own when providing personal ...

Super body opposes member interests bill

HARRISON WORLEY  |  MONDAY, 22 JUL 2019
The Government's move to reintroduce its member interests superannuation reforms continues to rile pockets of the super sector. The national advocacy group for women employed in superannuation and financial services, Women in Super (WIS), has condemned ...

ASIC moves to ban direct life cold calling

HARRISON WORLEY  |  THURSDAY, 18 JUL 2019
... Commission recommendations, and will provide consumers with further protections from misselling practices now, ahead of wider law reform by Government. "Without such a ban, we are concerned that consumers will continue to be preyed upon by peddlers of ...

Industry bodies react to APRA review

KARREN VERGARA  |  THURSDAY, 18 JUL 2019
Several industry associations have responded to APRA's Capability Review as many weighed in on how the recommendations can improve the superannuation sector. The Australian Institute of Superannuation Trustees head of advocacy Ailsa Goodwin said ...

APRA endorses review recommendations

KARREN VERGARA  |  WEDNESDAY, 17 JUL 2019
APRA said it welcomes the Capability Review's "ambitious agenda" that aims to shakeup its culture and enforcement powers. Of the 24 recommendations from the Graeme Samuels-led Capability Review, APRA is endorsing the 19 recommendations dedicated ...

Reform implementation timeframe too short: AustralianSuper

HARRISON WORLEY  |  WEDNESDAY, 17 JUL 2019
The Government's move to require superannuation trustees to stop providing opt-out insurance to new members under-25 or with low balance accounts by October 1 has riled Australia's largest fund. Airing the fund's position on the Government's ...