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Showing 221 - 230 of 388 results for "Hayne"

Frydenberg takes action on banning grandfathered commissions

HARRISON WORLEY  |  THURSDAY, 28 MAR 2019
Consultation is now open for the Federal Government's response to Commissioner Kenneth Hayne's recommendation that grandfathered conflicted remuneration should be eliminated. The new regulation proposes financial product manufacturers to pass on to ...

ClearView defends risk advice commissions

KARREN VERGARA  |  TUESDAY, 26 MAR 2019
... cap reduces to 60%, with a 20% trailing commission thereafter. In releasing the Royal Commission final report in February, Hayne proposed to shrink caps of 20-60% further when it reviews the impact of the reforms in 2021. ClearView argued the unintended ...

AFA takes red pen to Hayne report

HARRISON WORLEY  |  WEDNESDAY, 20 MAR 2019
... association this week, AFA general manager policy and professionalism Phil Anderson issued a pointed assessment of Commissioner Hayne's final report, saying it fails to acknowledge financial advisers working for the benefit of their client, instead focussing ...

Indigenous super access needs improvement

KARREN VERGARA  |  TUESDAY, 19 MAR 2019
... and if the work on improving identification procedures is filtering down to frontline staff. Citing Commissioner Kenneth Hayne, Scheerlinck said ATSI people encounter needless difficulties in identification and binding death nominations, and there is ...

Codes of conduct to be made enforceable

ELIZABETH MCARTHUR  |  TUESDAY, 19 MAR 2019
... "the establishment and imposition of mandatory financial services industry codes." "As further recommended by Commissioner Hayne, to deal with the case where an industry does not put forward its proposed enforceable code provisions in a timely manner ...

Zero tolerance approach to poor culture needed

KARREN VERGARA  |  MONDAY, 18 MAR 2019
The newly appointed lead of APRA's capability review is taking a no-nonsense approach to fixing poor behaviour and getting culture right. Monash Business School professor Graeme Samuel, who appeared at the 2019 Conference of Major Super Funds (CMSF) ...

NAB agrees to RC wealth recommendations

HARRISON WORLEY  |  FRIDAY, 15 MAR 2019
... Commission's recommendations directly relating to the wealth management industry. Releasing its full response to Commissioner Hayne's 76 suggested changes to Australia's financial services industry, NAB said it disagrees with four banking recommendations. ...

NFP super funds rise to occasion post-Royal Commission

KARREN VERGARA  |  THURSDAY, 14 MAR 2019
While industry funds emerged largely unscathed from the Hayne Royal Commission, it is more critical than ever for not-for-profit funds to be exemplary in terms of practices and performance. This was a key message at this year's Conference of Major Super ...

Mortgage broker trail commissions to stay

KANIKA SOOD  |  WEDNESDAY, 13 MAR 2019
... borrower, not the lender, should pay the mortgage broker a fee for acting in connection with home lending," Commissioner Kenneth Hayne recommended. "Changes in brokers' remuneration should be made over a period of two or three years, by first prohibiting ...

Consultation opens for claim handling changes

HARRISON WORLEY  |  MONDAY, 4 MAR 2019
... removing the exclusion and therefore the Government has opened consultation. A recommendation from Commissioner Kenneth Hayne in the Royal Commission's final report earlier this year, the change would allow ASIC to enforce a higher standard of behaviour ...