Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 11 - 20 of 183 results for %22Commissioner Hayne%22

Actuaries Institute devises director skills checklist

JAMIE WILLIAMSON  |  MONDAY, 18 OCT 2021
... Laughlin question whether directors' failure to understand their businesses enabled the misconduct uncovered by Commissioner Hayne's inquiry. While boards in the financial services industry have certainly changed in recent years, there is evidence "clearly ...

APRA to mandate independent certifications

KARREN VERGARA  |  WEDNESDAY, 22 SEP 2021
... Royal Commission. In a letter to registrable superannuation entity licensees, APRA clarified its position on Commissioner Hayne's Recommendation 4.14. Hayne's recommendation affects all RSEs that engage a related party to provide group life insurance ...

Criminal charges filed against CBA

ELIZABETH MCARTHUR  |  FRIDAY, 17 SEP 2021
... charges was revealed during the Royal Commission and is the subject of a case study in the final report from Commissioner Hayne. This is the second criminal prosecution under consumer protection provision s12DB of the ASIC Act (alleging false and misleading ...

ASIC urged to act on common ownership

KARREN VERGARA  |  FRIDAY, 10 SEP 2021
... ASIC's role has been minimal. In discussing the issue of proxy voting and the approaches super funds take, ASIC commissioner Danielle Press said each trustee will have different ways of voting, some will hand it to a proxy adviser or to the investment ...

ASIC consults on anti-hawking rules

KANIKA SOOD  |  THURSDAY, 22 JUL 2021
... consultation is open until August 17. ASIC plans to publish final guidelines in September, for the October start. ASIC commissioner Danielle Press said the reforms strengthen and consolidate the three existing hawking prohibitions into a single prohibition ...

ASIC prepares licensees for reference checks

KARREN VERGARA  |  WEDNESDAY, 21 JUL 2021
... candidate is involved in, and the results of compliance audits that relates to personal advice provided by the candidate. Commissioner Kenneth Hayne found that AFLSs did not do enough to communicate among themselves about the background of prospective ...

Insurers dodging Royal Commission reform

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
... insurance industry to side-step the Royal Commission recommendations and are to the detriment of consumers. Commissioner Hayne recommended that the government implement an economy-wide deferred sales model for add on insurance products after the Royal ...

Regulators warn trustees of super advice fee obligations

KARREN VERGARA  |  THURSDAY, 1 JUL 2021
... effort to provide better protections for members against paying fees for no service. In recommendation 3.2, Commissioner Hayne suggested removing the ability for superannuation trustees to deduct advice fees (other than for intra-fund advice) from a ...

Delay breach reporting law: AFA

KARREN VERGARA  |  FRIDAY, 16 APR 2021
... concerns it will be impossible for small financial advice firms to comply with. The AFA outlined its concerns about Commissioner Kenneth Hayne's recommendation that in order to help protect consumers, AFSL holders must follow breach-reporting regulations ...

ASIC releases fee consent instrument

ELIZABETH MCARTHUR  |  THURSDAY, 25 MAR 2021
... trustees is to be provided in the coming months, ASIC said. All three new instruments are directly in response to Commissioner Kenneth Hayne's recommendations from the Royal Commission. "ASIC said that the instruments were designed to strike a balance ...