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Showing 361 - 370 of 1326 results for "Parliament"

Regulators circle as scandal engulfs Westpac

ALLY SELBY  |  WEDNESDAY, 4 DEC 2019
APRA has put Westpac on notice; warning the disgraced bank could face fines and disqualification of senior directors and executives as it considers whether to launch legal action. APRA chair Wayne Byres told a parliamentary hearing on Monday that the ...

Enforcement appetite is working: APRA

ELIZA BAVIN  |  MONDAY, 2 DEC 2019
... changes of trustee as a result," he said. "However, when coupled with new regulatory powers and penalties provided by the Parliament earlier this year, our heat map means APRA is now much more well-equipped to take these efforts to a whole new level." ...

FSC hails super choice amendments

HARRISON WORLEY  |  THURSDAY, 28 NOV 2019
... Services Council has praised the government for introducing amendments to superannuation laws. The introduction to parliament of amendments to superannuation laws to allow workers in new enterprise agreements to choose their own superannuation fund have ...

AMP transfers 25% of accounts to ATO

ELIZA BAVIN  |  MONDAY, 25 NOV 2019
AMP executive Alex Wade has told a parliamentary inquiry that the company has transferred a quarter of its superannuation fund account to the Australian Taxation Office. Wade said these accounts were inactive, and AMP felt that transferring them to ...

Westpac chief believes in financial advice

ELIZA BAVIN  |  MONDAY, 11 NOV 2019
Westpac chief executive Brian Hartzer told members of parliament that he believes providing financial advice to Australian consumers is important and that all Australians should have access to good, cost-effective, unconflicted financial advice. Speaking ...

Chief economist update: Santa Claus is coming to town

BENJAMIN ONG  |  MONDAY, 11 NOV 2019
... and the UK polls have been oh so wrong since 2015 when the Conservatives won majority (when the polls forecast a hung parliament; in 2016 when Brexit won (contrary to the polls showing Remain will win) and in 2017 (when Theresa May's party lost majority ...

Labor supports FASEA extension, confusion remains

ELIZABETH MCARTHUR  |  MONDAY, 28 OCT 2019
... However, the office qualified this by also saying that the final legislation hasn't actually been introduced into the Parliament yet and Labor will need to examine it thoroughly when it is. A spokesperson for Jones confirmed to Financial Standard that ...

Growing advice group in commissions fight

ELIZABETH MCARTHUR  |  THURSDAY, 24 OCT 2019
... politician indicated to the UFAA that the group needs to get its numbers above 5000 to receive attention and be heard by parliament. "As practising advisers, we took the view that the two most recognised bodies representing advisers, the Australian Financial ...

ASIC using intimidation tactics on grandfathering: AIOFP

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
... grandfathered commissions. The bill banning grandfathered commissions on investment and superannuation products was passed by parliament on Monday. Johnston confirmed that the legal advice the AIOFP has received is that commissions advisers lose in the ...

Grandfathered commissions ban passes

ELIZABETH MCARTHUR  |  TUESDAY, 15 OCT 2019
The legislation that will end grandfathered commissions has passed both houses of federal parliament. Under the reforms, the benefit of any conflicted remuneration payable under a contract must be passed on to the client. The Treasury Laws Amendment ...