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Showing 11 - 20 of 26 results for "Royal Assent"

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... first introduced. The Financial Accountability Regime Bill 2023 will apply to the banking industry six months after Royal Assent. For the insurance and superannuation industries, it will apply 18 months after Royal Assent. A key objective of the law ...

Regulators begin FAR consultation

CHLOE WALKER  |  THURSDAY, 20 JUL 2023
... financial institutions. It is intended the FAR will become effective for ADIs six months after the legislation received Royal Assent, while insurance and superannuation entities will have 18 months to prepare. The documents released by APRA and ASIC ...

APRA urges entities to strengthen risk management

CASSANDRA BALDINI  |  FRIDAY, 25 NOV 2022
... starting," he explained. The FAR is due to commence for authorised deposit-taking institutions (ADIs) six months after Royal Assent and for insurance and superannuation 18 months. "But with the legislation yet to pass the Senate, it's not clear when ...

Regulators warn trustees of super advice fee obligations

KARREN VERGARA  |  THURSDAY, 1 JUL 2021
... processes and systems in place to meet the new regulation. On 2 March 2021, the Advice Fees and Independence Act received Royal Assent, limiting the advice fee deductions from superannuation accounts as recommended by the Hayne Royal Commission. Recommendation ...

SG amnesty bill finally passes

HARRISON WORLEY  |  TUESDAY, 25 FEB 2020
... normal range of penalties for super underpayment. The amnesty will expire six months after the day the bill receives Royal Assent, with assistant minister for superannuation, financial services and financial technology Senator Jane Hume confident more ...

Bill to defer adviser education standards tabled

ELIZABETH MCARTHUR  |  THURSDAY, 5 DEC 2019
... will be deferred by one year to 1 January 2022." The extension will come into effect the day after the bill receives Royal Assent. The amendments were cited as minor in nature and therefore unlikely to have a revenue impact and the potential compliance ...

Super trustees to formulate whistleblower policies

KARREN VERGARA  |  MONDAY, 12 AUG 2019
... foster an ethical culture. The Whistleblower Protections Act was passed by Parliament on 19 February 2019. It received royal assent on 12 March 2019. The reforms commenced on 1 July 2019, aiming to provide stronger rights and protections to whistleblowers. ...

Super body opposes member interests bill

HARRISON WORLEY  |  MONDAY, 22 JUL 2019
... changes. "We therefore urge the Government to defer the commencement date of the PMIF Bill to at least nine months after royal assent," AMP director of government relations Alastair Kinloch said in the firm's submission. AMP revealed more than 5000 ...

Amendments to retirement income law assent

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
... with several changes made to the legislative framework surrounding retirement income and social security receiving Royal Assent late last week. The Social Services and Other Legislation Amendment (Supporting Retirement Incomes) Bill 2018 amends the Social ...

New draft super governance standards released

MARK SMITH  |  WEDNESDAY, 19 AUG 2015
... The government also confirmed that the new requirements and transition period will both commence from the date of Royal Assent so existing funds have a full three-years to transition to the new standards. It has also clarified that neither the current ...