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Showing 411 - 420 of 979 results for "Financial System"

Super disputes kept aside in Treasury review

DARREN SNYDER  |  WEDNESDAY, 7 DEC 2016
... Superannuation Funds of Australia chief executive Martin Fahy said the group welcomed Treasury's interim report of the financial system's external dispute resolution (EDR) and complaints framework. The report has expressed a clear recommendation that ...

Life insurance legacy faces more scrutiny

DARREN SNYDER  |  THURSDAY, 1 DEC 2016
... business." Summerhayes and APRA support the implementation of a rationalisation mechanism - a recommendation from the Financial System Inquiry. It would address legacy products that become more complex and expensive to administer over time. "Legacy products ...

FOS and CIO should merge: report

ALEX BURKE  |  THURSDAY, 1 DEC 2016
... counsellors had actually interacted with the CIO over the past year. The FCA report echoes ASIC's submission to the Financial System Inquiry, wherein the regulator said: "ASIC does not consider that competition between different schemes enhances consumer ...

ASIC bans SA insurance broker

ALEX BURKE  |  WEDNESDAY, 30 NOV 2016
... that insurance brokers will uphold the highest standards of conduct, so as to maximise their confidence in the financial system," ASIC deputy chair Peter Kell said. "Mr Griggs' conduct fell well and truly short of that standard," he added.

APRA marks New Year priorities

JAMIE WILLIAMSON  |  TUESDAY, 1 NOV 2016
Despite the current Australian financial system appearing healthy there remains areas of vulnerability, according to the latest annual report from APRA. The report outlines risks in the housing market, the funding profile of the banking system, poor ...

ASIC bans fraudulent adviser

KERRIE SYDEE  |  FRIDAY, 23 SEP 2016
... ASIC. We will investigate and prosecute instances of dishonesty to ensure that consumers have confidence in the financial system." On 26 August 2016, Madhoji was sentenced to seven-and-a-half years' imprisonment with a non-parole period of 22 months ...

Default super system splits industry

DARREN SNYDER  |  WEDNESDAY, 21 SEP 2016
... alternative models around the allocation process for default fund members - another development from the 2014 Financial System Inquiry (FSI). The commission's issues paper on alternative default models, released yesterday, has again split the system ...

Senior staff changes at RBA

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2016
... governor. Meanwhile, Malcolm Edey has announced he will retire at the end of October. The current assistant governor, financial system, will be succeeded by Michele Bullock who is presently serving as assistant governor, business services. As part of ...

Good financial advice a challenge: ASIC

KERRIE SYDEE  |  FRIDAY, 2 SEP 2016
... advice, irresponsible lending and mis-selling to retail investors and consumers that undermine the trust of the financial system. ASIC hopes to promote better gatekeeper culture through a number of projects including: Advice compliance at the big five ...

Capital not enough to prevent failures

KERRIE SYDEE  |  WEDNESDAY, 31 AUG 2016
... the regulatory framework seeks to protect, and/or involve significant disruption to the smooth operation of the financial system, and economic activity more generally." To ensure to the maximum probability that failures will be orderly, Byres suggested ...