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Showing 161 - 170 of 350 results for "Final Report"

Synchron slams RC on commissions

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... when dealing with legacy products, including sometimes quite substantial system costs." Finally, Trapnell said the final report gives advisers certainty on how they can move forward in their profession after many years of upheaval. He said he was particularly ...

CBA posts $4.6b in profits, dividend flat

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... customers on package fees, and interest and remediation. CBA's stock jumped on Tuesday, as the Royal Commission's final report delivered after market close on Monday stayed away from recommending an end to vertical integration.

APRA could oversee stalled super fund mergers

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... addressing a stalled merger would be an appropriate use of such a power," Commissioner Kenneth Hayne said in his final report. The SIS Act asks that trustees of any responsible entity that offers a MySuper product must conduct an annual scale assessment ...

Grandfathered commissions deadline challenging: AFA

JAMIE WILLIAMSON  |  WEDNESDAY, 6 FEB 2019
... policy and professionalism Phil Anderson believes the timeline is problematic. Responding to the Royal Commission's final report, Treasurer Josh Frydenberg announced payment of grandfathered commissions will be banned as of 1 January 2021. "This is not ...

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 ...