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Showing 11 - 20 of 371 results for "Hayne"

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... penalty on accountable entities," Jones said. BEAR, the FAR's first iteration, was recommended by Commissioner Kenneth Hayne in a bid to regulate senior leaders of super funds, banks, insurers, and other APRA-regulated entities at the culmination ...

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
... In May 2019, the NSW Supreme Court ordered the litany of class actions levelled against AMP to merge into one after the Hayne Royal Commission exposed scathing revelations that included among other issues, charging fees for no services under various ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... number of complaints received by AFCA relating to advice is reflective of the maturity of the industry, in particular post-Hayne Royal Commission," Singh said. "Over the past few years, AFSLs have come to see dispute resolution as an essential part of ...

Adviser demand up as industry turns corner: Recruiter

KARREN VERGARA  |  FRIDAY, 7 JUL 2023
... High demand is coming from the employers who want to re-adopt the associate adviser role, which was popular prior to the Hayne Royal Commission and FASEA regulations. "We see this client shift as a response to increase capacity to absorb the referrals ...

Life, funeral insurers cop $14m fine

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
The disgraced director of Select AFSL, the company the Hayne Royal Commission exposed for hawking life and funeral insurance to vulnerable customers, has been banned from managing a company for five years, while his companies were fined $13.5 million. ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... apply to the relevant sub-sectors it will charge. The financial advice industry has copped skyrocketing levies since the Hayne Royal Commission, which forced out 40% of the population. The formula is driven by the denominator, meaning that as more advisers ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... to avoid giving members a misleading impression as to their potential retirement benefits," Asher said. Cold calling post-Hayne Royal Commission The Australian Institute of Superannuation Trustees (AIST) has previously called on the government to extend ...

FRAA releases draft APRA, ASIC metrics

KARREN VERGARA  |  FRIDAY, 16 JUN 2023
... and capability?" the FRAA asks stakeholders. The consultation period ends on July 27. The FRAA was a recommendation of the Hayne Royal Commission. The legislation for the FRAA's establishment passed in parliament in mid-2021. Less that two years since ...

No regrets: Hayne reflects on Royal Commission

KARREN VERGARA  |  TUESDAY, 30 MAY 2023
Nearly six years since the landmark Royal Commission, former High Court justice Kenneth Hayne stands by his recommendations that upended the banking and financial services sectors. Making a rare appearance at the International Congress of Actuaries ...

AMP restructures wealth management, chief exits

KARREN VERGARA  |  MONDAY, 29 MAY 2023
... treasury, workplace experience and transformation. Other than AWM, what is left of AMP following a turbulent period since the Hayne Royal Commission is AMP Bank, New Zealand Wealth Management (NZWM), and remnants of AMP Capital like a 15% holding in ...