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Showing 11 - 20 of 124 results for "Hayne Royal Commission"

Adviser demand up as industry turns corner: Recruiter

KARREN VERGARA  |  FRIDAY, 7 JUL 2023
... 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 and new client ...

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
... 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 exited ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... 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 anti-hawking ...

FRAA releases draft APRA, ASIC metrics

KARREN VERGARA  |  FRIDAY, 16 JUN 2023
... 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 its establishment ...

AMP restructures wealth management, chief exits

KARREN VERGARA  |  MONDAY, 29 MAY 2023
... 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 China Life AMP Asset ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... Australian financial services licensees to act efficiently, honestly and fairly. It was during the 2018 Hayne Royal Commission that the egregious conduct came to light, forcing AMP to report the issue to ASIC and to rectify the issue. Justice Hespe described ...

Jones to prioritise CSLR legislation

KARREN VERGARA  |  TUESDAY, 21 MAR 2023
... trusted consumer advocates such as Choice and are a direct response to some of the revelations heard at the Hayne Royal Commission," he said. "It's time to get these things done."

Super fund advice needs more guardrails: Conference

KARREN VERGARA  |  MONDAY, 27 FEB 2023
... insurers and banks will gain more advice autonomy and the financial services industry will revert to the pre-Hayne Royal Commission era. Levy argued that in formulating the recommendations, she had the consumer front of mind - not the banks, super funds ...

Super, advice class actions dampen CBA results

KARREN VERGARA  |  WEDNESDAY, 15 FEB 2023
... profits this morning, Commonwealth Bank continues to put out fires from its misconduct stemming from the Hayne Royal Commission, as it looks to tackle several class actions in 2023. One ongoing lawsuit alleges that Colonial First State Investments Limited ...