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Showing 351 - 360 of 2020 results for "Legislation"

Advisers call out regulation backflip

KARREN VERGARA  |  FRIDAY, 4 MAR 2022
... principles-based system," Osborne said. While a principles-based regulatory regime might be ideal, he thinks that the current legislation "is not that prescriptive or onerous". "With the ability to interpret what is there it already provides us with ...

FPA pushes for advice law simplification

KARREN VERGARA  |  WEDNESDAY, 2 MAR 2022
... Australian Law Reform Commission review, FPA chief executive Sarah Abood is calling for the elimination of layers of legislation that advisers face that ultimately comes at the expense of consumers. "Financial planners are not lawyers, but it may be ...

CalPERS, CalSTRS face fossil fuels ban

JAMIE WILLIAMSON  |  MONDAY, 21 FEB 2022
... Climate Goals was introduced into the California state Senate last week by Senator Lena A. Gonzalez. If passed, the legislation will force the California Public Employees' Retirement System and the California State Teachers' Retirement System to divest ...

ASIC consults on refreshing PDSs, FSGs

KARREN VERGARA  |  FRIDAY, 18 FEB 2022
... Most of the instruments will automatically repeal or cease in the next two years if not remade, ASIC said. "Under the Legislation Act 2003, legislative instruments are repealed automatically, or 'sunset' after a period of time unless action is ...

CSLR will not fully protect investors

KARREN VERGARA  |  WEDNESDAY, 16 FEB 2022
... Resort regime closer to passing, there are fears it will fall short of protecting consumers. The Senate Economics Legislation Committee released a summary of the proposed bill, with input from industry stakeholders, who largely voiced concerns that the ...

$450 super threshold scrapped

JAMIE WILLIAMSON  |  FRIDAY, 11 FEB 2022
... first announced it would scrap the $450 threshold in last year's federal budget, handed down in May. However, the legislation to do so was delayed for much of the year and, due to be considered in the final week of parliamentary sitting for 2021, was ...

Proxy advice reforms defeated

RACHEL ALEMBAKIS  |  FRIDAY, 11 FEB 2022
... performance. "Just like company directors, lawmakers must be held to high standards of governance," Rennie said. "Legislation should be justified, proportionate, consistent and effective. These reforms did not meet this test." One of CPA Australia's ...

Advisers can step up to retirement planning boom

KARREN VERGARA  |  FRIDAY, 11 FEB 2022
... advisers." Super Consumers Australia director Xavier O'Halloran said the passage of the Retirement Income Covenant legislation yesterday calls for stronger impartial, quality financial advice provided on retirement options and products. "To make ...

Retirement Income Covenant, CCIV reforms pass

KARREN VERGARA  |  FRIDAY, 11 FEB 2022
... will have to provide a retirement income strategy for members to assist them in their later years under the new RIC legislation, embedded in the Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021. Under the strategy, trustees ...

Hostplus hits members with new fee

ELIZABETH MCARTHUR  |  THURSDAY, 10 FEB 2022
... if a penalty were to be imposed on it, or its directors (e.g., as a result of an inadvertent breach of Commonwealth legislation), and the trustee does not have sufficient capital to pay the penalty." Hostplus is just the latest in a series of profit ...