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Showing 201 - 210 of 1256 results for "Royal Commission"

ASIC releases grandfathered arrangement findings

KARREN VERGARA  |  FRIDAY, 16 JUL 2021
... charging an ongoing fee, an hourly rate or a fixed price or an asset-based fee, it found. The financial services Royal Commission recommended an end to the grandfathering of conflicted remuneration paid to financial advisers as soon as practicable under ...

No charges in AMP BOLR investigation

JAMIE WILLIAMSON  |  FRIDAY, 16 JUL 2021
... business is "pleased to have closure on the matter". The conduct was the subject of intense scrutiny during the 2018 Royal Commission. At the time, Senior Counsel Assisting Michael Hodge also noted that AMP would dial down fees for orphaned clients rather ...

Insurers dodging Royal Commission reform

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
Last week, the federal government announced exemptions for the insurance industry in relation to Royal Commission reforms. According to the Consumer Action Law Centre, these exemptions allow the insurance industry to side-step the Royal Commission recommendations ...

OnePath to remediate over pressure selling

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
... concerted regulatory action. Notably, the deep dive review also informed the evidence base for several Hayne Royal Commission misconduct case studies. Our review uncovered egregious sales practices, with tens of thousands of consumers paying for products ...

Regulators warn trustees of super advice fee obligations

KARREN VERGARA  |  THURSDAY, 1 JUL 2021
... received Royal Assent, limiting the advice fee deductions from superannuation accounts as recommended by the Hayne Royal Commission. Recommendation 3.3 sought to prohibit the deduction of advice fees (other than for intra-fund advice) from superannuation ...

Better Advice regulations hit parliament

KARREN VERGARA  |  FRIDAY, 25 JUN 2021
... superannuation, financial services and the digital economy Jane Hume introduced The Financial Sector Reform (Hayne Royal Commission Response - Better Advice) Bill 2021 in parliament on June 24. Otherwise known as the Better Advice Bill, the proposed ...

Government to create ASIC, APRA regulator

ANNABELLE DICKSON  |  THURSDAY, 24 JUN 2021
... Regulation Authority (APRA). Under the Financial Regulator Assessment Authority Bill 2021, based off the Hayne Royal Commission recommendations 6.13 and 6.14, the Financial Regulator Assessment Authority (FRAA) will be established. Recommendation 6.13 ...

WealthO2 launches adviser app

KARREN VERGARA  |  TUESDAY, 22 JUN 2021
... of clientele utilising apps, it's the next generation of adviser's client who have viewed the issues from the Royal Commission and are even more aware of possible hidden fees and lack of transparency," WealthO2 co-founder and managing director Shannon ...

AFA defends industry against Labor attack

KARREN VERGARA  |  MONDAY, 21 JUN 2021
... advice - the kind of advice we've seen again and again and again, the kind of advice exposed in the Hayne Royal Commission," she went on to say. "There are inadequate protections for consumers, and this bill further exposes people to these risks. ...

ASIC takes on NAB for fee-for-no service breaches

KARREN VERGARA  |  FRIDAY, 18 JUN 2021
... "prolonged under-investment" in its systems, compliance and controls as first exposed by the financial services Royal Commission, which enabled customers to be charged millions of dollars in fees unbeknownst to them. ASIC alleges that the contraventions ...