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Showing 221 - 230 of 515 results for "Powers"

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... obligation. "All directors of the trustee of an RSE owe the same duties, including, to perform their duties and exercise their powers as directors of the trustee in the best interests of the beneficiaries: the members." Hayne said rules prescribing board ...

Misconduct must end: Frydenberg

DARREN SNYDER  |  MONDAY, 4 FEB 2019
... that the actions announced today will put in place the legislative framework necessary, providing the regulators with the powers and the resources to hold those who abuse our trust to account. In doing so the community's trust in our financial sector ...

APRA, ASIC welcome Productivity Commission's superannuation report

HARRISON WORLEY  |  FRIDAY, 11 JAN 2019
... overseeing financial services in Australia have welcomed the Productivity Commission's recommendations to grant them additional powers. After they were blasted in the Productivity Commission's final report into the efficiency and competitiveness of superannuation ...

Regulators in Productivity Commission firing line

HARRISON WORLEY  |  THURSDAY, 10 JAN 2019
... grilling in the Commission's final report, which called on the Government to clarify each of ASIC and APRA roles and powers. According to the Productivity Commission, the corporate and prudential regulators suffer from "confusing and opaque" conduct ...

ASIC appoints second deputy chair

KARREN VERGARA  |  FRIDAY, 7 DEC 2018
... strengthen ASIC. Treasurer Josh Frydenberg said the Government has undertaken significant reforms to ensure ASIC has the powers and resources it needs to combat misconduct in the financial services industry and across all corporations for the protection ...

New SG laws hit Senate

KARREN VERGARA  |  FRIDAY, 7 DEC 2018
New laws giving the ATO stronger powers to enforce superannuation guarantee obligations has progressed before the Senate. If the Treasury Laws Amendment (Measures No.4) Bill 2018 is passed, the Commissioner of Taxation will be able to issue a written ...

APRA not clear how to police BEAR breaches

KANIKA SOOD  |  FRIDAY, 30 NOV 2018
... kicked into effect for CBA, NAB, ANZ and Westpac five months ago on July 1. It gives the prudential regulator two main powers: to disqualify an accountable individual or to place a significant fine. APRA wants to bring all ADIs under its purview on July ...

Frydenberg splashes $50m to pursue financial services crime

HARRISON WORLEY  |  FRIDAY, 16 NOV 2018
... financial institutions, and enable the regulator to conduct a review of its enforcement strategy and use of formal enforcement powers.

Frydenberg boosts APRA funding

HARRISON WORLEY  |  MONDAY, 5 NOV 2018
... institutions. The funding will also see APRA conduct a review of its enforcement strategy and use of formal enforcement powers across its industries of responsibility. The Government's decision to boost APRA's financial muscle comes after criticism ...

Revised penalties come down hard on white collar crime

HARRISON WORLEY  |  MONDAY, 22 OCT 2018
... cases, while civil penalties for corporations and individuals would skyrocket. Following a review of ASIC's enforcement powers, the Government will introduce legislation to parliament this week, hoping to strengthen sanctions for corporate and financial ...