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Showing 251 - 260 of 2020 results for "Legislation"

Adviser registration extended to October

KARREN VERGARA  |  WEDNESDAY, 31 MAY 2023
... apply to licensees if a relevant provider whom they have authorised provides financial advice while unregistered. The legislation defines a relevant provider as "an individual who is authorised to provide personal advice to retail clients about relevant ...

Spirit Super rectifies regulatory breach

ANDREW MCKEAN  |  TUESDAY, 30 MAY 2023
... inadvertently omitted some fees and costs from its product disclosure statement (PDS), resulting in a breach of RG97 legislation. This law mandates that funds disclose the amounts deducted from reserves that form part of administration fees and costs. ...

HESTA pushes for gig worker super entitlements

ANDREW MCKEAN  |  MONDAY, 29 MAY 2023
... proposal, HESTA made three recommendations aimed at addressing the challenges faced by gig workers. Firstly, the proposed legislation should clearly state that the SG is a minimum standard for workers in 'employee-like' arrangements. The government ...

Experience pathway could create two adviser tiers

KARREN VERGARA  |  TUESDAY, 23 MAY 2023
There are concerns that the proposed experience pathway legislation could create two tiers of financial advisers and confuse consumers about who is and isn't qualified to provide advice. As Treasury mulls over finalising education standards for ...

BNPL to be regulated under Credit Act

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
... neutrality." Jones further explained that the responsible lending regime will be central to its approach. "However, our legislation ensures that the obligations of BNPL providers are scalable and technologically neutral. We will make sure they are the ...

Supercharging Australia's climate investment action

ALEX DUNNIN  |  TUESDAY, 9 MAY 2023
... these programs, the government will enhance the disclosure frameworks encapsulated within the 2023 Safeguard Mechanism legislation. For example, it will develop a purpose-built Sustainable Finance Taxonomy, introduce a Sovereign Green Bonds program and ...

Another round of consultation for veteran super taxation

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2023
... decision, adding to the regulations introduced to parliament late last year. In November 2022, the government introduced legislation aimed at ensuring no veteran pays higher income taxes as a result of the Federal Court decision in Commissioner of Taxation ...

UK to ban cold calling on all financial products

JAMIE WILLIAMSON  |  FRIDAY, 5 MAY 2023
... 2020, ASIC introduced a ban on the use of cold calling to sell direct life insurance. Meanwhile, in 2021 anti-hawking legislation was introduced. Earlier this year, the Australian Institute of Superannuation Trustees (AIST) called out advice firms that ...

Industry fund market share soars: KPMG

ANDREW MCKEAN  |  THURSDAY, 4 MAY 2023
... to attract and retain members - the introduction of 'stapling' members to funds under the Your Future, Your Super legislation has meant there is less automatic change to a new employer's fund when someone takes a new job." "So, in order to attract members ...

Superannuation changes limit tax benefits for top earners: ASFA

ANDREW MCKEAN  |  FRIDAY, 21 APR 2023
... upon sale, the realised gains would face taxation again, she said. Also, despite the planned implementation of the legislation on 1 July 2025, it would still apply to unrealised earnings of assets already present within an individuals super account. ...