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Showing 391 - 400 of 1823 results for "Regulation 2014"

Government merges advice reviews

KARREN VERGARA  |  WEDNESDAY, 21 APR 2021
The federal government will fold the 2022 Life Insurance Framework Review into the Quality of Advice Review, taking over the responsibilities from ASIC. The Quality of Advice Review will consider the LIF Review as part of its wider mandate, Minister ...

Time running out for claims licences

ELIZABETH MCARTHUR  |  FRIDAY, 9 APR 2021
ASIC says it has only received 15 applications for insurance claims handling and settling licences, with some so sloppy they will have to be resubmitted. The regulator has issued a reminder that, as per recent reforms, insurance claims handling and ...

Mercer calls for delay to super reforms

JAMIE WILLIAMSON  |  THURSDAY, 8 APR 2021
Appearing before the Senate Economics Legislation Committee this morning, Mercer implored the government to consider a delay to the implementation of the super fund stapling mechanism slated to come into effect from July 1. In opening, Mercer senior ...

"Financial" in BFID is no big deal: Academic

KANIKA SOOD  |  WEDNESDAY, 7 APR 2021
A UNSW academic says subjecting superannuation funds to "best financial interest duty" instead of just "best interest duty" is not material, but BFID's flow-on effects will be concerning for trustees. University of New South Wales director for centre ...

APRA takes action against Macquarie

ANNABELLE DICKSON  |  THURSDAY, 1 APR 2021
Following multiple breaches to prudential and reporting standards, the Australian Prudential Regulation Authority (APRA) has hit Macquarie Bank with increased liquidity and operational risk capital requirements. Macquarie Bank breached APRA's reporting ...

Why advisers don't recommend annuities

KANIKA SOOD  |  WEDNESDAY, 31 MAR 2021
New research from University of Melbourne researchers has identified two reasons why financial advisers don't recommend annuities to their clients. Orford Initiative's latest findings found advisers play a key role in recommending annuities, but face ...

ABC, ISH arrangement faces scrutiny

KARREN VERGARA  |  MONDAY, 29 MAR 2021
APRA is facing mounting pressure to investigate the complex arrangements and quantify the financial terms between industry superannuation funds and the ABC, a parliamentary inquiry heard this morning. The prudential regulator, which appeared before ...

APRA gains traction on superannuation data project

ANNABELLE DICKSON  |  FRIDAY, 26 MAR 2021
The Australian Prudential Regulation Authority has released its final reporting standards for the first phase of the Superannuation Data Transformation (SDT) as it looks to clear out underperformers. Phase one addresses the most urgent gaps in APRA's ...

NZ overhauls regulation of advice

JAMIE WILLIAMSON  |  FRIDAY, 19 MAR 2021
The way in which financial advice is regulated in New Zealand has changed, with a host of new requirements introduced and robo-advice now subjected to the same rules as advice delivered in person. From March 15, all providers of financial advice to ...

ASIC pursues criminal charges in super

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAR 2021
... later this year will assist the regulator's work. "They [DDOs] represent a true step-change in financial services regulation - the frontier of outcomes-based regulation," she said. ASIC will soon begin meeting with chairs, chief executives, and boards ...