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Showing 171 - 180 of 326 results for "SIS"

APRA to reopen old wounds for CBA, IOOF

KARREN VERGARA  |  WEDNESDAY, 5 SEP 2018
... chief executive Chris Kelaher and described him as someone who "demonstrated a failure to understand the covenants under the SIS Act and obligations of a trustee under trust law." IOOF's complicated structure has been under APRA's radar since 2016. Kelaher ...

More risk advisers offloading practices

KARREN VERGARA  |  WEDNESDAY, 29 AUG 2018
Pressures of the Royal Commission, the Life Insurance Framework and educational reforms are prompting risk advisers to hurriedly sell their practices at discount prices, a merger and acquisitions expert says. Radar Results principal John Birt said there ...

Retail super funds in hot water: Royal Commission

KARREN VERGARA  |  MONDAY, 27 AUG 2018
... members, who continued to receive trailing commissions may potentially breaching the section 52(2)(d)(i) and (d)(iii) of the SIS Act. CBA admitted to APRA in March 2014 it breached the SIS Act on 13,000 occasions after it was unable to determine if First ...

Link fund admin chief departs

JAMIE WILLIAMSON  |  WEDNESDAY, 22 AUG 2018
The chief executive of Link Group's fund administration business has left the company. Link confirmed that Suzanne Holden tendered her resignation after eight years with the administrator. Holden was appointed to lead the fund administration division ...

Federal Court rules partly in favour of DomaCom

HARRISON WORLEY  |  TUESDAY, 14 AUG 2018
... industry, however there are still hurdles to clear before sub-funds are not considered in-house assets or related trusts under the SIS (Superannuation Industry Supervision) Act. The full Federal Court found the Sole Purpose Test was not breached when ...

Advisers demand self-licensing regime: Poll

KARREN VERGARA  |  MONDAY, 16 JUL 2018
A majority of financial advisers would welcome an overhaul of the AFS licensing regime, a recent survey shows. The majority (78%) of financial advisers polled in Financial Standard's sister publication FS Advice would prefer to be self-licensed, similar ...

US giant acquires Aussie super consulting business

ALEX BURKE  |  FRIDAY, 15 JUN 2018
An NYSE-listed global insurance brokerage and risk management firm is acquiring an Australian superannuation consulting services company along with its technology-based sister firm as part of a continued play into the Australian wealth market. Arthur ...

Listed fintech partners for financial wellness

JAMIE WILLIAMSON  |  WEDNESDAY, 13 JUN 2018
An ASX-listed fintech partnered with an online financial literacy hub to expand its distribution strategy and launched a new financial wellness program. Marketplace lender Wisr has partnered with Your Wealth Hub, a digital financial literacy and employee ...

Retirement income paper open for consultation

KANIKA SOOD  |  FRIDAY, 18 MAY 2018
... advisory group to help establish the scope of a retirement covenant in the Superannuation Industry Supervision Act 1993. The SIS Act already has covenants on insurance and investment. On Budget night, Treasurer Scott Morrison flagged the upcoming release ...

Six associations form new alliance

KARREN VERGARA  |  TUESDAY, 8 MAY 2018
Several highly-regarded associations have joined forces in a bid to improve the retirement system, and unify against Labor's proposal to disallow refunds of excess franking credits for retirees and shareholders. The Alliance for a Fairer Retirement ...