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Showing 151 - 160 of 321 results for "SIS"

Government moves on Royal Commission super recommendations

HARRISON WORLEY  |  WEDNESDAY, 13 FEB 2019
The Federal Government has amended the SIS Act and some of its superannuation bills to include recommendations made in the Royal Commission's final report. Superannuation fund trustees are set to be banned from treating employers in efforts to be ...

APRA could oversee stalled super fund mergers

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... mergers. The Parliament is currently waiting to pass a number of changes to the Superannuation Industry (Supervision) Act (SIS Act), including giving APRA a power to issue directions to RSE licensees. "It may be that, in particular circumstances, addressing ...

Grandfathered commissions deadline challenging: AFA

JAMIE WILLIAMSON  |  WEDNESDAY, 6 FEB 2019
The removal of grandfathered commissions by 2021 is not as simple as it sounds, according to the Association of Financial Advisers. Acknowledging the recommendation and subsequent announcement of a deadline for removal by Government was inevitable ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... for nominating the default fund for their employees by way of entertainment and sporting events, he said. Section 68A of the SIS Act provides that a trustee of an RSE or an associate of a trustee must not supply or offer to supply goods or services to ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
... the relationship between RSE licensees and consumers, and added ASIC should be given power to enforce all provisions in the SIS Act which are or will become civil penalty provisions.

ANZ, IOOF revise wealth sale agreement

JAMIE WILLIAMSON  |  TUESDAY, 15 JAN 2019
... conflicts management frameworks. An independent report from EY suggesting IOOF Investment Management Limited breached the SIS Act and further prudential standards underpins APRA's action. The action was followed by news that IOOF managing director ...

Superannuation a mystery to students: survey

KANIKA SOOD  |  THURSDAY, 10 JAN 2019
A new survey has revealed a "startling knowledge gap" in super, with close to half of Australian students knowing little to nothing about superannuation. Student Super's survey also found that 42% percent of the polled students were unsure about ...

Grandfathered commissions: Where to from here?

JAMIE WILLIAMSON  |  WEDNESDAY, 19 DEC 2018
Almost two-thirds of financial advisers are against the removal of grandfathered commissions. A recent poll conducted by Financial Standard's sister publication FS Advice found 63% of respondents do not believe the payment of grandfathered commissions ...

APRA takes action against IOOF

HARRISON WORLEY  |  FRIDAY, 7 DEC 2018
... issued by big-four accounting firm EY which provided a "reasonable basis" to conclude IIML had breached section 52 of the SIS Act and prudential standards SPS 520 and 521, which relate to conflicts of interest. APRA said it would seek to disqualify five ...

Property fund hires manager

KANIKA SOOD  |  WEDNESDAY, 5 DEC 2018
The fund manager of a $450 million office real estate trust has jumped ship to another manager. Grant Nichols who ran the roughly $450 million Australian Unity Office Fund is taking over as the fund manager of the $850 million Centuria Metropolitan ...