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Showing 261 - 270 of 388 results for "Hayne"

Royal Commission sobering and overdue: Labor

DARREN SNYDER  |  TUESDAY, 5 FEB 2019
... be robust and they should be, above all, ethical," Bowen said. Labor, in principle, accepts all of Commissioner Kenneth Hayne's 76 recommendations. "We would have a Treasury taskforce to work with a Shorten Labor government on implementing the report's ...

Platforms steady after Royal Commission

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... four banks, AMP and IOOF can breathe a sigh of relief after the Royal Commission's final report. Commissioner Kenneth Hayne did not recommend either structural separation or wider approved product lists. And this could slow down the adviser migration ...

Institutions respond to Royal Commission, make commitments

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... Commission's final report. Landing yesterday, the report was scathing in its assessment of banking executives. Commissioner Hayne said the final round of hearings - which saw chief executives and chairs of the big banks, AMP and financial services regulators ...

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... from the regulator's day-to-day dealings with its subjects, the Royal Commission final report said. Commissioner Kenneth Hayne said when ASIC identifies misconduct, its starting point should be "why not litigate?" instead of the "negotiate" tack the ...

Superannuation to face BEAR: Hayne

KARREN VERGARA  |  TUESDAY, 5 FEB 2019
... should be extended to superannuation. This is one of nine recommendations for the superannuation sector Commissioner Kenneth Hayne has pushed for in his final report released overnight. The BEAR came into effect for large ADIs on 1 July 2018 and becomes ...

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... final report. In handing over his 76 recommendations to improve the banking and financial services industry in Australia, Hayne avoided calling an end to the vertical integration model - which allows wealth managers to own and operate the entire wealth ...

Conflicts of interest recommendation falls short

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... suggested by some to address conflicts of interest at the heart of most misconduct, ISA said. However, Commissioner Kenneth Hayne did point out in the final report that conflicts of interest arise in both profit-for-member funds and retail funds. "In ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
Commissioner Kenneth Hayne took a hard-line against hawking superannuation products and the practices of "treating" employers in his final Royal Commission report. Hayne wants the hawking or unsolicited offer of superannuation products to be prohibited ...

Life risk commissions must also go: Hayne

KANIKA SOOD  |  MONDAY, 4 FEB 2019
Commissioner Kenneth Hayne has recommended ASIC ultimately whittle down the commissions on life insurance products to zero unless there is a clear justification to keep them. On 1 January 2018, advisers' upfront commission for implementing a life ...

AFSL reference checking protocols required

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... protocols should be mandatory for all advice licensees, the Royal Commission has said. In the final report, Commissioner Hayne has called out advice licensees for not sufficiently sharing information about advisers with ASIC or other licensees. He believes ...