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Showing 21 - 30 of 630 results for %22Financial Services Royal Commission%22

AMP restructures wealth management, chief exits

KARREN VERGARA  |  MONDAY, 29 MAY 2023
... corporate and institutional wealth at NAB Wealth from 2009 to 2013; his responsibilities included leading Plum Financial Services and Jana Investment Advisors. Also part of the simplification, AMP has combined the roles of chief financial officer and ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... advice. Justice Hespe found that all four subsidiaries contravened their overarching obligations as Australian financial services licensees to act efficiently, honestly and fairly. It was during the 2018 Hayne Royal Commission that the egregious conduct ...

Government introduces FAR, CSLR Bills

ANDREW MCKEAN  |  WEDNESDAY, 8 MAR 2023
... proposed deed of company arrangement that would see them receiving as little as 3.1 cents on the dollar. The Financial Services Council (FSC) welcomed the introduction of the CSLR and FAR legislation into Parliament as a positive step towards the implementation ...

Super fund advice needs more guardrails: Conference

KARREN VERGARA  |  MONDAY, 27 FEB 2023
... Duty. However, many fear that superannuation funds, insurers and banks will gain more advice autonomy and the financial services industry will revert to the pre-Hayne Royal Commission era. Levy argued that in formulating the recommendations, she had ...

All financial advice should be tax deductible: FPA

CASSANDRA BALDINI  |  FRIDAY, 3 FEB 2023
... the broader scheme, and its design should reflect a broad funding base that includes all participants in the financial services industry, to ensure sustainability and equity." It proposed the CSLR apply to personal advice, relevant financial products ...

Cold calling advice firms called out

JAMIE WILLIAMSON  |  WEDNESDAY, 1 FEB 2023
... know who is trying to sell us something we don't need or even want," Scheerlinck said. "When they're selling financial services like superannuation advice to skirt around a gap in the law and trying to bamboozle consumers with half-truths into signing ...

Financial adviser registration delayed

ANDREW MCKEAN  |  THURSDAY, 3 NOV 2022
... central registration requirement for financial advisers, in line with recommendation 2.10 of the Financial Services Royal Commission. Treasury said this change was made to give full effect to the new disciplinary system for financial advisers, allowing ...

ANZ told to pay $25m for 20-year failure

JAMIE WILLIAMSON  |  THURSDAY, 27 OCT 2022
... penalties has resulted from the Royal Commission so far. "The penalties handed down from ASIC's Financial Services Royal Commission enforcement work should act as a reminder to financial institutions that they must invest in their systems to ensure consumers ...

APRA unmasks fund outsourcing impacts

ANDREW MCKEAN  |  THURSDAY, 6 OCT 2022
... of concerns around trustees' management of related party arrangements that emerged from the financial services Royal Commission.

Throw out financial services law clutter: ALRC

ANDREW MCKEAN  |  WEDNESDAY, 5 OCT 2022
The Australian Law Reform Commission's (ALRC) second interim report to reduce complexity in financial services legislation proposes an alternative model that's more coherent and principled, and "embraces minimalism." The ALRC's proposed legislative ...