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Showing 211 - 220 of 388 results for "Hayne"

Government bans superannuation funds treating employers

KARREN VERGARA  |  WEDNESDAY, 10 APR 2019
... life Commissioner Kenneth Hayne's recommendation against treating of employers from the Royal Commission final report. Hayne found legislation on how super funds compete to be nominated as default funds was too lax. Some large funds spend significant ...

Banks push to leave vertical integration on the table

HARRISON WORLEY  |  WEDNESDAY, 10 APR 2019
... Australia's banks should be able to return to the model in the future, should they wish to. Despite Commissioner Kenneth Hayne specifically recommending against it, Hanson's bill would force Australia's banks to jettison the vertical integration model ...

Institutions fail to adequately manage social risk

ELIZABETH MCARTHUR  |  TUESDAY, 9 APR 2019
... the success and sustainability of an institution, but Australia's financial institutions are failing to measure this. The Hayne Royal Commission excoriated many of Australia's largest financial institutions for treatment of customers and failure to meet ...

Financial advice exit a boon for the industry: Poll

KARREN VERGARA  |  MONDAY, 8 APR 2019
... Financial Group as a standalone division. In handing down the banking Royal Commission final report, Commissioner Kenneth Hayne stopped short of dismantling vertical integration. Hayne said the forced separation of financial advice and companies that ...

Poor governance spurs calls for directorship caps

JAMIE WILLIAMSON  |  MONDAY, 8 APR 2019
... the Royal Commission final report, the Governance Institute of Australia chief executive Megan Motto said: "Commissioner Hayne and his team is right to highlight the important role of leadership embedding an ethical culture from the top down." "It cannot ...

APRA receives new super powers

KARREN VERGARA  |  FRIDAY, 5 APR 2019
The prudential regulator's powers have been bolstered thanks to new laws that will enable it to take tougher action on trustees and underperforming funds. The Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation ...

Budget: RC response to cost over $600m

HARRISON WORLEY  |  TUESDAY, 2 APR 2019
... new independent authority set to oversee their conduct over the next three years, as recommended by Commissioner Kenneth Hayne. The Budget also reveals APRA's capability review - which Hayne insisted the Government carry out "as soon as reasonably practicable" ...

NAB needs 500 staff for remediation

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAR 2019
... for NAB since the start of the month, after the resignation of Andrew Thorburn. Chronican said NAB agrees with 72 of the Hayne report's 76 recommendations and it has already begun implementing changes. The positive changes he listed included the bank's ...

Treasury proposes standardised default insurance definitions

KARREN VERGARA  |  FRIDAY, 29 MAR 2019
Commissioner Kenneth Hayne's push to have standardised terms and definitions for group insurance is open for consultation until April 26. Treasurer Josh Frydenberg is taking recommendation 4.13 from the Royal Commission's final report further by determining ...

ASIC dismisses Royal Commission insider trading reports

ELIZABETH MCARTHUR  |  THURSDAY, 28 MAR 2019
... after the Labor party suggested insider trading was responsible for bank stocks rising immediately on the back of Kenneth Hayne's report. Senator Peter Whish-Wilson asked if ASIC was investigating "whether there was any irregular trading on 4 February ...