Search ResultsShowing 11 - 20 of 100+ results for "Commissioner Kenneth Hayne"
Risk commission changes imperil advice practices
KARREN VERGARA  |  WEDNESDAY, 5 JUN 2019
... competition, as only the largest institutions will be able to survive, it said. Under Recommendation 2.5, Commissioner Kenneth Hayne said ASIC should consider further reducing the cap on commissions for life risk insurance products - unless there is ...
Super stability not guaranteed: Rice Warner
HARRISON WORLEY  |  FRIDAY, 24 MAY 2019
... requirements of APRA's member outcomes regime. The firm noted the Government would also implement most of Commissioner Kenneth Hayne's recommendations from the Royal Commission, adding another layer of change to the sector. "While the industry would ...
Government bans superannuation funds treating employers
KARREN VERGARA  |  WEDNESDAY, 10 APR 2019
... penalty provisions, it can be slapped with a fine of up to 2000 penalty units. The Bill brings to life Commissioner Kenneth Hayne's recommendation against treating of employers from the Royal Commission final report. Hayne found legislation on how ...
Banks push to leave vertical integration on the table
HARRISON WORLEY  |  WEDNESDAY, 10 APR 2019
... Australia's banks should be able to return to the model in the future, should they wish to. Despite Commissioner Kenneth Hayne specifically recommending against it , Hanson's bill would force Australia's banks to jettison the vertical integration model ...
Financial advice exit a boon for the industry: Poll
KARREN VERGARA  |  MONDAY, 8 APR 2019
... Financial Group as a standalone division. In handing down the banking Royal Commission final report, Commissioner Kenneth Hayne stopped short of dismantling vertical integration . Hayne said the forced separation of financial advice and companies that ...
APRA receives new super powers
KARREN VERGARA  |  FRIDAY, 5 APR 2019
... the best interests duty. He added the new law was another example of the Government taking action on Commissioner Kenneth Hayne's final recommendations. This includes Recommendation 3.6, which extends civil penalties to superannuation fund trustees. ...
Budget: RC response to cost over $600m
HARRISON WORLEY  |  TUESDAY, 2 APR 2019
... new independent authority set to oversee their conduct over the next three years, as recommended by Commissioner Kenneth Hayne. The Budget also reveals APRA's capability review - which Hayne insisted the Government carry out "as soon as reasonably practicable" ...
Treasury proposes standardised default insurance definitions
KARREN VERGARA  |  FRIDAY, 29 MAR 2019
Commissioner Kenneth Hayne's push to have standardised terms and definitions for group insurance is open for consultation until April 26. Treasurer Josh Frydenberg is taking recommendation 4.13 from the Royal Commission's final report further by determining ...
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
ClearView is countering Commissioner Kenneth Hayne's recommendation to reduce or eliminate commissions financial advisers earn from life insurance products. It is "way too early," ClearView wrote in an email to advisers, to consider tinkering with ...
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