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Showing 371 - 380 of 748 results for "Senate 67"

Government says no to CBA Royal Commission

LAURA MILLAN  |  FRIDAY, 24 OCT 2014
The government has not accepted a recommendation by the Senate Economics Committee to open a Royal Commission to investigate the financial planning scandals within Commonwealth Bank (CBA). The government has issued a two-page response to the 61 recommendations ...

Industry needs unified solution to insurance "failure": ASIC

LAURA MILLAN  |  THURSDAY, 23 OCT 2014
Insurers and financial advisers must stop pointing fingers and create a unified response to address insurance sector failures, the Australian Securities and Investments Commissions (ASIC) deputy chair Peter Kell said "This needs a collective response ...

ASIC demands last resort compensation scheme

LAURA MILLAN  |  MONDAY, 20 OCT 2014
The Australian Securities and Investments Commission (ASIC) has demanded the introduction of a last resort compensation scheme that would provide compensation to victims of failed investments and bad financial advice "where all the other options have ...

Market Wrap AM

AAP  |  THURSDAY, 2 OCT 2014
The Australian market looks set to again open lower after Wall Street lost more than one per cent following mixed US economic data. At 0815 AEST on Thursday, the December share price index futures contract was down 35 points at 5,287. Locally, in economic ...

Coalition Senators head-to-head over FoFA

LAURA MILLAN  |  FRIDAY, 26 SEP 2014
The government's reforms to the Future of Financial Advice (FoFA) could be disallowed by Nationals' Senator John Williams after he staged a parliamentary confrontation against Finance Minister and Liberal Senator Mathias Cormann. The Senate Standing ...

Opposition wants to postpone vote on FoFA bill

LAURA MILLAN  |  TUESDAY, 23 SEP 2014
Labor and the Greens have asked the government to postpone again the vote on the changes to the Future of Financial Advice (FoFA) legislation until the Financial System Inquiry (FSI) releases its conclusions. "Labor Senators urge the government to withdraw ...

Bipartisan Senate inquiry to grill financial services again

LAURA MILLAN  |  FRIDAY, 5 SEP 2014
Labor Senator Sam Dastyari has obtained the support from the Coalition to conduct a new Senate Economics Committee inquiry to scrutinise the financial services industry. The inquiry will continue the task of last year's Senate Economics Committee inquiry ...

SG frozen till 2021, industry 'dismayed'

JAMES FERNYHOUGH  |  TUESDAY, 2 SEP 2014
The Senate has passed legislation that will freeze the superannuation guarantee at 9.5% until 2021, and abolish the Low Income Superannuation Contribution in 2017. The laws, which were part of an extensive package of reforms contained in the Minerals ...

Senate bill challenges general advice definition

LAURA MILLAN  |  TUESDAY, 2 SEP 2014
Greens Senator Peter Whish-Wilson has decided to get ahead of the Financial System Inquiry (FSI) and is set to table a bill to change the definition of 'general advice.' The Senator will introduce the private member bill today during the Senate sitting ...

FoFA legislative changes pass in the House of Reps

LAURA MILLAN  |  THURSDAY, 28 AUG 2014
The House of Representatives has voted in favour of the government's amendments to the Future of Financial Advice (FoFA) legislation. The members of Parliament voted following a long debate where the Coalition outlined its position in favour of the ...