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Showing 11 - 20 of 1066 results for "Licensees"

Major decline in group insurance coverage: ASFA

ANDREW MCKEAN  |  WEDNESDAY, 28 FEB 2024
... (Putting Members' Interests First) Act 2019 (PMIF) further mandated that Registered Superannuation Entity (RSE) licensees cannot offer insurance on an opt-out basis to members with account balances under $6000 or to new members under 25 years old. ...

ASIC waves red flag at advisers, trustees over Choice products

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2024
An extensive review of processes across superannuation trustees, financial advisers and advice licensees has found very little evidence that consumers are aware of how poorly Choice products they're in are performing, and that such underperformance ...

APRA proposes updated operational risk financial requirements

ANDREW MCKEAN  |  TUESDAY, 20 FEB 2024
... (APRA) has proposed changes to operational risk financial requirements for registrable superannuation entities (RSE) licensees. The prudential regulators adjustments are designed to bolster the ability of RSE licensees to mobilise financial resources ...

New chair for iExtend

CHLOE WALKER  |  WEDNESDAY, 14 FEB 2024
... adviser support we have built and further develop our enterprise solutions to elevate our industry-leading offering for licensees." Meanwhile, Cassidy thanked Payne for his contribution as chair. "iExtend would like to thank former iExtend chair Rodney ...

Super funds lack data for effective retirement assistance: Study

ANDREW MCKEAN  |  MONDAY, 5 FEB 2024
... that stands in the way of the industry making progress against the RIC and retirement preparation challenge. "All RSE licensees were missing data that is critical for developing an effective retirement income strategy," the audit said. "RSE licensees ...

Unlisted asset valuation practices under review

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... finalise the updated SPS 515 Strategic Planning and Member Outcomes guidance in the coming months and will also review RSE licensees' self-assessments in relation to the Retirement Income Covenant and ASIC and APRA's joint report on progress of implementation ...

AI is not the 'Wild West': Longo

CHLOE WALKER  |  THURSDAY, 1 FEB 2024
... Longo said. "It's certainly not a stretch to apply this thinking to the use and operation of AI by financial services licensees." Longo disclosed that the corporate regulator is already pursuing an action in which AI-related issues arise, where it believes ...

Adviser registration deadline moves to February 16

KARREN VERGARA  |  FRIDAY, 19 JAN 2024
... register. "Given that the period for registration has coincided with the summer holiday period, ASIC is providing AFS licensees an additional two weeks to register their relevant providers," the regulator said. The change of date comes amidst the Financial ...

Powerwrap bleeds $334m in outflows

KARREN VERGARA  |  WEDNESDAY, 17 JAN 2024
... had an "abnormally large impact" on its performance. It did not specify how many advisers left to join non-Powerwrap licensees. In the half-year period, outflows on Powerwrap built up to more than $500 million. "Operating in this market segment can lead ...

Government proposes framework for clearing and settlement services regulation

ANDREW MCKEAN  |  WEDNESDAY, 17 JAN 2024
... Stephen Jones, outlines the framework for ASIC to enforce rules governing the conduct and activities of CS facility licensees and associated entities. However, the imposition of such requirements is contingent on the minister's determination under ...