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Showing 11 - 20 of 39 results for "Industry Funding Model"

Financial adviser levy to drop

JAMIE WILLIAMSON | MONDAY, 30 AUG 2021

... and a Compensation Scheme of Last Resort," Frydenberg and Hume said. Treasury will also review the ASIC Industry Funding Model, commencing in 2022, in consultation with the Department of Finance and ASIC. Responding to the news, Financial Planning Association ...

Adviser levy to increase by 160%

ELIZABETH MCARTHUR | FRIDAY, 5 MAR 2021

... fines are diverted to consolidated revenue rather than offsetting ASIC's costs. They also noted ASIC's industry funding model had not changed despite major shifts in the financial advice sector, with banks largely exiting advice. Yet ASIC's budget to ...

ASIC increases levy costs

ELIZA BAVIN | THURSDAY, 16 JAN 2020

... the increase in enforcement matters adopted following recommendations of the Royal Commission. "The ASIC industry funding model was designed so that industry levies are set at the end of the year, after ASIC's regulatory costs are known. This means there ...

Federal Budget: Industry responds

HARRISON WORLEY | WEDNESDAY, 3 APR 2019

... million response to the Royal Commission, the fact most of that amount will be recovered from ASIC's industry funding model will add to the cost of advice. "We believe implementing the Royal Commission recommendations is necessary for the protection ...

Post Royal Commission change is all talk: Shipton

JAMIE WILLIAMSON | MONDAY, 22 OCT 2018

... said now is the right time to discuss whether ASIC and its peers are "right sized" in relation to the new industry funding model; unique characteristics of Australia's financial system; size of Australia's financial markets; number of consumers; number ...

Royal Commission sees increased ASIC, APRA funding

ALEX BURKE | TUESDAY, 8 MAY 2018

... APRA financial institutions supervisory levies in 2018-19 and $10.6 million recovered as part of ASIC's industry funding model. Overall, ASIC's budget estimate for 2018-19 is $37 million and APRA's is $83 million. Elsewhere, the Australian Financial ...

Treasury rolls out ASIC industry funding fee paper

ALEX BURKE | FRIDAY, 24 NOV 2017

... ensure regulatory costs are borne by those who "create a need for it" instead of the Australian public. "The industry funding model is an important component of the Government's plan to improve consumer outcomes in the financial services sector," O'Dwyer ...

Banks will step out of wealth: Medcraft

DARREN SNYDER | TUESDAY, 31 OCT 2017

... one of his final presentations as ASIC chair, Medcraft labelled his biggest achievement as securing the industry funding model and removing the corporate regulator from the public service. During his term Medcraft was initially told ASIC is "a public ...

ASIC outlines industry funding costs

ALEX BURKE | MONDAY, 9 OCT 2017

ASIC has released the forecast regulatory costs for industry participants as part of its new industry funding model. These costs vary across industry sectors. In the registered liquidator sector, for example, companies will have a minimum levy of $2500 ...

ASIC targets retirement products and services

KARREN VERGARA | MONDAY, 4 SEP 2017

... industry-led reform package using life insurance policies, remuneration, lapse rates and clawbacks. ASIC's industry funding model, which was passed into law on 15 June, will begin issuing its first invoices in January 2019. "Significantly, the introduction ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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