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Showing 191 - 200 of 388 results for "Hayne"

APRA proposes new remuneration standard

KARREN VERGARA  |  TUESDAY, 23 JUL 2019
APRA is introducing a new remuneration prudential standard for its regulated entities on the back of the Hayne Royal Commission's final recommendations. Draft prudential standard CPS 511 Remuneration is open for consultation until October 22. Chief ...

ISA lays out $416bn super saving plan

HARRISON WORLEY  |  THURSDAY, 18 JUL 2019
... machinery to staple a person to a single default account. However, KPMG's report Stapling of superannuation accounts said Hayne's recommendation failed to offer much guidance in achieving the result. According to KPMG, there are two solutions. Workers ...

HUB24 defends cash accounts

KARREN VERGARA  |  THURSDAY, 4 JUL 2019
... negative returns on cash investments after the RBA lowered the official cash rate to 1%. "In the wake of the revelations in the Hayne Royal Commission about exorbitant fees being charged on financial services products it would appear untenable for members ...

Dealer group transitions to fee-based model

KARREN VERGARA  |  TUESDAY, 25 JUN 2019
... Angus Benbow was named chief executive last year. The fee-for-service model will assist in mitigating the impact of the Hayne Royal Commission to remove grandfathered rebates by January 2021, Benbow said, adding the old revenue model was largely driven ...

Wealth management investigations spike

KANIKA SOOD  |  FRIDAY, 21 JUN 2019
... while investigations into wealth management increased 129%. In the Royal Commission's final report, commissioner Kenneth Hayne recommended when ASIC identifies misconduct, its starting point should be "why not litigate?" instead of the "negotiate" tack ...

Superannuation reforms underway

KARREN VERGARA  |  FRIDAY, 21 JUN 2019
In her first industry address since inheriting the superannuation portfolio, Senator Jane Hume reinforced the Federal Government's plans to fix the structural problems across the retirement system and ultimately improve outcomes for members. Speaking ...

Finnies showcase best in fintech

ELIZABETH MCARTHUR  |  THURSDAY, 13 JUN 2019
... the need for banking systems that benefit customers, and that the fintech sector is capable of providing that, she added. "Hayne's Royal Banking Commissions has only reinforced the need for that relationship and for partnerships that benefit both the ...

Risk commission changes imperil advice practices

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2019
... competition, as only the largest institutions will be able to survive, it said. Under Recommendation 2.5, Commissioner Kenneth Hayne said ASIC should consider further reducing the cap on commissions for life risk insurance products - unless there is ...

Industry wide pay cut for boards

ELIZABETH MCARTHUR  |  TUESDAY, 4 JUN 2019
... already being felt by Australia's financial institutions, as shareholders and their boards move to act upon Commissioner Hayne's recommendations." Overall, across all industries and organisation types, chairs had a remuneration increase of 3% and director ...

Banks sluggish on Indigenous financial inclusion

KARREN VERGARA  |  WEDNESDAY, 29 MAY 2019
... documents and easy-to-understand versions of customer information documents would also be beneficial. In July last year, the Hayne Royal Commission highlighted the plight of ATSI people accessing banking services. It also exposed the difficulties they ...