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Showing 11 - 20 of 602 results for section

Standalone laws key to solving legislative 'porridge': ALRC

JAMIE WILLIAMSON  |  FRIDAY, 19 JAN 2024
... mean grouping sections 912EA and 912EB; Part 7.6 Divs 8A, 8B, and 8C; Part 7.6 Div 9 Subdivs B and C; Part 7.7 Div 3; section 949A; Part 7.7A Divs 2, 3, 4 (excluding s963K), Div 5 Subdiv B and Div 6; and sections 1012A and 1020AI. It also wants to introduce ...

Government proposes framework for clearing and settlement services regulation

ANDREW MCKEAN  |  WEDNESDAY, 17 JAN 2024
... associated entities. However, the imposition of such requirements is contingent on the minister's determination under section 828B of the Corporations Act 2001, which allows him to specify, by legislative instrument, the classes of CS services that ...

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN  |  MONDAY, 8 JAN 2024
... policy. The case marks ASIC's first attempt to impose a civil penalty under s13 of the Insurance Contracts Act 1984 (Cth), a section that mandates insurers uphold the duty to act with utmost good faith. In 2018, OnePath, previously owned by ANZ, rejected ...

Treasury to refresh financial adviser exam

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... are adequately trained and competent, including that their advisers meet the qualifications standard," the note said. Section 921B of the Corporations Act 2001 sets out four education and training standards that relevant provides must achieve to be qualify ...

Former adviser misled ASIC during investigation: Court

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... was charged on two counts of providing false or misleading information during a compulsory examination, hence breaching section 64(1) of the Australian Securities and Investments Commission Act 2001 (Cth). ASIC referred the matter to the Commonwealth ...

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... carrying on a business. The ATO proposed adding the deductibility of financial advice fees as tax-related expenses under section 25-5 of the Income Tax Assessment Act 1997. "This revised guidance is sensible and welcome. The existing Tax Determination ...

FSCP issues another registration prohibition order

KARREN VERGARA  |  WEDNESDAY, 13 DEC 2023
The Financial Services and Credit Panel (FSCP) made another registration prohibition order against a financial adviser who tried to recommend an SMSF and investment products that were not suitable to a client. Melbourne-based Stephen Rogers, a representative ...

APRA flags premium volatility in superannuation group life insurance

ANDREW MCKEAN  |  FRIDAY, 8 DEC 2023
... of the member demographic potentially to assist with the determination of retirement income strategies as required by section 52(8A) of the Superannuation Industry (Supervision) Act 1993 (SIS Act) addressing Retirement Income covenants," the prudential ...

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
... last year after concerns were raised that the life insurance start-up was operating without a licence, thus contravening section 911A of the Corporations Act. ASIC said it was also concerned iExtend had been offering to pay life insurance premiums for ...

Colonial First State enhances FirstChoice with Elemnta

CHLOE WALKER  |  TUESDAY, 21 NOV 2023
... Power said the new functionality has been developed with advisers, for advisers. "Using deep insights from a wide cross-section of practices, we are giving precious time back to advisers to focus on their clients by increasing efficiencies, improving ...