Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 191 - 200 of 2019 results for "Legislation"

New life insurance regulations rolled out

ANDREW MCKEAN  |  WEDNESDAY, 21 FEB 2024
... Insurance Regulations 1995 before they sunset, removing redundant provisions and making drafting improvements. The Legislation Act 2003 governs the sunset of legislative instruments, but the sunsetting date for the 1995 Regulations was deferred to October ...

Mergers a boon for super member growth

KARREN VERGARA  |  MONDAY, 19 FEB 2024
... competition, a shifting regulatory member focus and the skewed favourability of the Your Future, Your Super (YFYS) stapling legislation, will exert further pressure on funds to achieve membership based strategic objectives." Myers, a former executive ...

ASIC to tighten grip on super fund misdemeanours

ANDREW MCKEAN  |  FRIDAY, 2 FEB 2024
... With proceedings underway against Mercer Super and Active Super, trustees will be aware that we will use every lever legislation affords us to eliminate this practice, and we will continue to monitor the superannuation sector for misleading greenwashing ...

Treasury promises flexibility to adviser qualifications

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2024
... update how advisers can demonstrate they satisfy the conditions of an approved degree or qualification. Under draft legislation that amends Corporations (Relevant Providers Degrees, Education and Training Standards) Determination 2021, this can be done ...

Standalone laws key to solving legislative 'porridge': ALRC

JAMIE WILLIAMSON  |  FRIDAY, 19 JAN 2024
... Reform Commission (ALRC) has recommended overhauling the Corporations Act and creating dedicated financial services legislation. The ALRC has been reviewing existing legislation to identify ways to make the regime easier to understand, including differentiating ...

Treasury releases climate disclosure draft legislation

RACHEL ALEMBAKIS  |  TUESDAY, 16 JAN 2024
... report on the financial impacts of climate change from 1 July 2026, according to mandatory climate risk reporting legislation proposed by government. Treasury released the exposure draft of legislation that would make financial disclosure of climate ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
... successful complaints sitting at 284 and amounting to a claim cost of $27 million. The CSLR has lodged the relevant legislation with parliament, which can object to the amount through a disallowance process, but after 15 sitting days ASIC will determine ...

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN  |  MONDAY, 8 JAN 2024
... provided before avoiding a customer's insurance policy. ASIC enforcement action plays an essential role in testing legislation to ensure it affords consumers with appropriate protection," she said. ASIC is currently assessing the Court's ruling.

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... from having to provide consent on multiple forms, where the client has more than one product holding." Instead, the legislation should allow product providers to accept the standardised consent form for the deduction of personal advice fees whether it ...

BT signposts key issues for advisers in 2024

ANDREW MCKEAN  |  THURSDAY, 14 DEC 2023
... members, bring some clarity, the impact and effectiveness of these reforms will only be discernible once the draft legislation is reviewed in detail. "Advisers have dealt with a great deal of complexity in recent years and are vested in how these proposed ...