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Showing 21 - 30 of 42 results for financial sector reform hayne royal commission

ASIC prepares industry for claims handling law

KARREN VERGARA  |  FRIDAY, 27 NOV 2020
... information sheet and consultation paper C12 Proof: Claims Handling and Settling Service Statement builds on the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020. The new law, which was introduced in parliament on November 12, will ...

Financial adviser reference checks under scrutiny

ELIZABETH MCARTHUR  |  THURSDAY, 19 NOV 2020
... not doing enough to communicate with each other on the background of advisers they were employing. The Financial Sector Reform (Hayne Royal Commission Response) Bill which has been introduced to parliament includes obligations for AFSLs to comply with ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... will come into force with the introduction of a new bill. Introduced in Parliament on November 12, the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 addresses 20 recommendations from the 2018 inquiry. The new law will prevent the ...

Super funds squander member money: Bragg

KARREN VERGARA  |  THURSDAY, 24 SEP 2020
... decade. He was particularly critical of Industry Super Australia spending $40 million last year on advertising. ISA told Financial Standard in the past that it has not increased its marketing budget over the years (as at 18 March 2019) and declined to ...

ASIC quietly granted new access to phone taps

ELIZABETH MCARTHUR  |  THURSDAY, 11 JUN 2020
... share that evidence with ASIC. The new powers were again recommended during the Royal Commission. The Financial Sector Reform (Hayne Royal Commission Response - Stronger Regulators (2019 measures)) Bill 2020 explanatory memorandum outlined why ASIC needed ...

Where to from here?

JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
... reflects on the year that was and how the playbook - and rules - changed for advisers. It's been 12 months since the financial services sector was hit with Commissioner Kenneth Hayne's final report. And while the big banks appeared to be early casualties ...

Spotlight on super welcomed

HARRISON WORLEY  |  FRIDAY, 27 SEP 2019
... government's move to include compulsory superannuation in its retirement income review has been welcomed by the financial services sector. Responding to the government's establishment of a review of the retirement income system, the peak body ...

Senate creates committee on fintech, regtech

KRISTI CHENG  |  THURSDAY, 12 SEP 2019
... and regtech may give for Australian consumers and business; barriers to the uptake of new technologies in the financial sector; and the progress in reforming fintech facilitation and how it compares to other global regimes. Also to be looked at are current ...

Intra-fund advice must improve: Rice Warner

HARRISON WORLEY  |  WEDNESDAY, 4 SEP 2019
Superannuation funds have failed to solve the problems around access to financial advice, and both members and the funds themselves will suffer until they do, according to Rice Warner. The research house has struck the superannuation industry for failing ...

Train of legislation to hit advisers

ELIZABETH MCARTHUR  |  WEDNESDAY, 28 AUG 2019
Speaking at the Association of Financial Advisers National Conference, former Foreign Minister Julie Bishop expressed sympathy for the regulatory changes the advice industry is facing. Touching on the Royal Commission, Bishop said the reputational harm ...