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Showing 271 - 280 of 388 results for "Hayne"

Harder for insurers to dodge claims

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... 88% of the claims made on accidental death policies over the previous five years, while reaping $121 million in premiums. Hayne today recommended the government amend the Insurance Contracts Act to rid such instances. " Section 29(3) of the Insurance ...

Misconduct must end: Frydenberg

DARREN SNYDER  |  MONDAY, 4 FEB 2019
... put the blame of industry misconduct solely on Australia's financial services companies, quoting Commissioner Kenneth Hayne to say "there can be no doubt that the primary responsibility for misconduct in the financial services industry lies with ...

Grandfathered commissions to be banned

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... for the period 1 July 2019 to 1 January 2021. The removal of the payments was a key recommendation of Commissioner Kenneth Hayne's report, saying there is no justification for grandfathering provisions in an industry that is trying to remove conflicts ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
... Releasing his final report into Misconduct in the Banking, Superannuation and Financial Services Industry, Commissioner Kenneth Hayne recommended a new three-person oversight authority would assess the effectiveness of APRA and ASIC in meeting their ...

Ongoing service arrangements should be tightened: Hayne

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
An overhaul of ongoing fee arrangements has been recommended by Commissioner Kenneth Hayne to combat fees for no service conduct. The final report of the Royal Commission has recommended ongoing fee arrangements should be renewed annually by clients. ...

Former ACCC chair will lead APRA capability review

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
... assessment of APRA's policy and supervisory framework for banks and insurers," the Government said. Separately, Commissioner Hayne recommended a new regulatory overseer for ASIC and APRA, and said there roles should be adjusted when it comes to the ...

Royal Commission principles not simply an add-on

DARREN SNYDER  |  MONDAY, 4 FEB 2019
... Partners. Speaking ahead of the Royal Commission's final report, due at 4.10pm today, Longstaff said Commissioner Kenneth Hayne made it clear he's not interested in more laws to govern compliance, rather it's about where do firms sit in regards to community ...

Will the PC recommendations fall through the cracks?

KARREN VERGARA  |  WEDNESDAY, 23 JAN 2019
... policy and then passing as law is uncertain at best. Federal Treasurer Stuart Robert said the government will wait for the Hayne Royal Commission final report due on February 1 before formalising a response. Steffanoni said: "This means that we are likely ...

Managed accounts not immune to Royal Commission

KARREN VERGARA  |  TUESDAY, 22 JAN 2019
... thinking that managed accounts are not subject to the same conflicts of interest as larger institutions. Commissioner Kenneth Hayne lambasted the prevalence of conflicts of interest in the interim report. It is an area Wivell Plater "confidently" predicts ...

International equities rule Aussie ETFs: Vanguard

HARRISON WORLEY  |  MONDAY, 14 JAN 2019
... said 2019 would be a strong year for ETFs, forecasting the Australian market to clear $50 billion in assets. With Kenneth Hayne set to hand down his final report into misconduct in financial services on February 1, the fund manager is anticipating Hayne's ...