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Showing 161 - 170 of 346 results for "Final Report"

Royal Commission sobering and overdue: Labor

DARREN SNYDER  |  TUESDAY, 5 FEB 2019
... and financial services Royal Commission. Responding immediately after the public release of the Royal Commission's final report, Bowen said it was a document that was sobering and long overdue. "This is a dark day for Australia's banks and financial ...

Platforms steady after Royal Commission

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
Platforms at the big four banks, AMP and IOOF can breathe a sigh of relief after the Royal Commission's final report. Commissioner Kenneth Hayne did not recommend either structural separation or wider approved product lists. And this could slow ...

Institutions respond to Royal Commission, make commitments

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... largest financial institutions said they are committed to improvement following the release of Royal Commission's final report. Landing yesterday, the report was scathing in its assessment of banking executives. Commissioner Hayne said the final round ...

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... muscle but it should be separated from the regulator's day-to-day dealings with its subjects, the Royal Commission final report said. Commissioner Kenneth Hayne said when ASIC identifies misconduct, its starting point should be "why not litigate?" instead ...

Superannuation to face BEAR: Hayne

KARREN VERGARA  |  TUESDAY, 5 FEB 2019
... This is one of nine recommendations for the superannuation sector Commissioner Kenneth Hayne has pushed for in his final report released overnight. The BEAR came into effect for large ADIs on 1 July 2018 and becomes applicable for the smaller players ...

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
The business model under fire for much of the Royal Commission has escaped punishment in Kenneth Hayne's final report. In handing over his 76 recommendations to improve the banking and financial services industry in Australia, Hayne avoided calling ...

Conflicts of interest recommendation falls short

KARREN VERGARA  |  MONDAY, 4 FEB 2019
Industry Super Australia has criticised the banking Royal Commission final report for falling short of addressing conflicts of interest. Industry Super Australia said the structure of the industry and other profit-to-member super funds has avoided such ...

Life risk commissions must also go: Hayne

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... further when it reviews the impact of the reforms in 2021. It is one of 76 recommendations of the Royal Commission final report. Why get rid of the commissions? Hayne reiterated a multi-billion dollar risk commission payout that was also cited by Rowena ...

AFSL reference checking protocols required

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... reference checking protocols should be mandatory for all advice licensees, the Royal Commission has said. In the final report, Commissioner Hayne has called out advice licensees for not sufficiently sharing information about advisers with ASIC or other ...

Harder for insurers to dodge claims

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... had any real bearing on the likelihood of them being offered insurance or the price of the insurance," it said. The final report makes 15 recommendations on Australia's insurance industry - all of which the government has agreed to implement. Commissioner ...