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Showing 1 - 10 of 141 results for "Hayne Royal Commission"

Conaghan holds ASIC accountable for Shield, First Guardian mess

KARREN VERGARA  |  THURSDAY, 20 NOV 2025
... both a cop and a regulator, and in my view, not doing either well," he said. At the recommendation of the Hayne Royal Commission, ASIC is now reviewed every two years instead of five years. Conaghan disagrees with this, believing that rather than watering ...

Federal Court dismisses Freedom Insurance staff allegations

KARREN VERGARA  |  FRIDAY, 17 OCT 2025
... that Cohen breached his directors' duties. The now-defunct Freedom Insurance made headlines during the Hayne Royal Commission for shocking sales tactics that targeted namely vulnerable people. In one example, Freedom Insurance sold life insurance ...

ASIC chair calls it quits

KARREN VERGARA  |  FRIDAY, 19 SEP 2025
... 2024 financial year, according to ASIC's annual report. Despite receiving record funding since the Hayne Royal Commission, including massive contributions via the financial adviser levy and Compensation Scheme of Last Resort (CSLR), ASIC's effectiveness ...

AMP settles class action for $120m

ELIZA BAVIN  |  MONDAY, 15 SEP 2025
... those principles fall by the wayside." The case was initiated in 2019 following revelations during the Hayne Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. The Federal Court later ordered the consolidation ...

FSC explores if adviser licensing framework remains 'fit for purpose'

MATTHEW WAI  |  MONDAY, 28 JUL 2025
... evolution, including the Future of Financial Advice Reforms (2012), new education standards (2017) and Hayne Royal Commission (2017-2019), the FSC believes it is timely to assess whether the licensing framework remains "fit for purpose". "[The paper] ...

ASIC told to 'end the chaos' of ASX CHESS issues

ELIZA BAVIN  |  FRIDAY, 28 MAR 2025
... fulfilling its role." The report also discusses ASIC actions under new intervention powers granted after the Hayne Royal Commission, including step-in powers to block poorly targeted financial products, for which ASIC was praised. "The committee was ...

Unlawful hawking practices re-emerge in SMSFs

MATTHEW WAI  |  TUESDAY, 11 MAR 2025
... banned unsolicited cold calling in life and consumer credit insurance sales in January 2020 following the Hayne Royal Commission, intending to "stop practices that lead to poor consumer outcomes and trust in the financial system." Subsequently, the corporate ...

Government to scrap advisers' approved qualifications list

KARREN VERGARA  |  MONDAY, 10 FEB 2025
... education providers to ensure an appropriate transition to the new education standard," he said. Since the Hayne Royal Commission, the number of advisers dropped from 28,000 in January 2019 to fewer than 16,000. "The current education pathway is not ...

FAAA accuses government of crucial CSLR failure

MATTHEW WAI  |  THURSDAY, 16 JAN 2025
... costs and benefits of the CSLR," FAAA chief executive Sarah Abood said. "Statements were made that the Hayne Royal Commission process was considered to be the equivalent of an Impact Analysis. "We believe that this decision is deeply flawed and inappropriate ...

Three universities ditch financial planning courses

KARREN VERGARA  |  FRIDAY, 13 DEC 2024
... profession welcomed just over 300 new entrants as it struggles to stem the outflow of advisers since the Hayne Royal Commission. The number of financial advisers practising has plateaued to about 15,500 - which is about a 40% drop since 2018. "A loss ...
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