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Showing 421 - 430 of 748 results for "Senate - 52"

ASIC changes depend on the government: Medcraft

LAURA MILLAN  |  FRIDAY, 27 JUN 2014
Changes to the Australian Securities and Investments Committee (ASIC) depend on the level of resilience that the government wants from the financial services regulator, ASIC chairman Greg Medcraft said. Medcraft spoke at a media conference the day after ...

Inquiry has Macquarie Private Wealth in its sights

MARK SMITH  |  FRIDAY, 27 JUN 2014
Macquarie Private Wealth is in the firing line with the Senate Economics Committee inquiry recommending ASIC undertake "intensive surveillance" of the company in its recently released report. The organisation was referred to by name in one of the Senate  ...

Future of LISC in Palmer's hands

JAMES FERNYHOUGH  |  FRIDAY, 27 JUN 2014
Thirty-five prominent figures in the superannuation industry have called on the Palmer United Party to use its influence in the Senate to block the scrapping of the low income superannuation contribution (LISC) scheme. The letter, organised by Women ...

Government plays down support for royal commission

JAMES FERNYHOUGH  |  FRIDAY, 27 JUN 2014
Initial comments from the government suggest it may be unwilling to consider the Senate Committee's recommendation that there be a royal commission into Commonwealth Bank of Australia (CBA). Prime Minister Tony Abbott said the government would "carefully ...

CBA apologies again, refutes reckless culture accusations

LAURA MILLAN  |  FRIDAY, 27 JUN 2014
Commonwealth Bank has apologised again for the misconduct of its financial advisers that resulted in clients losing millions in retirement savings and has refuted accusations that its sales-based culture was "reckless." The bank has issued a statement ...

Senate report, a turning point for advice industry

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
The financial services industry is at a turning point after the Senate Economics Committee report stressed the need for dramatic changes in the way the advice sector operates. The Financial Planning Association (FPA) said that "Australia's complex financial ...

Senate inquiry reccommends Royal Commission into CBA

LAURA MILLAN  |  THURSDAY, 26 JUN 2014
The Senate Economics Committee has recommended that the government establish an independent inquiry in the form of a judicial inquiry or a Royal Commission to examine the cases of adviser misconduct within the Commonwealth Bank financial planning businesses. ...

Investors should take responsibility for themselves: Medcraft

LAURA MILLAN  |  WEDNESDAY, 25 JUN 2014
Individual responsibility remains a core part of the financial services system, the Australian Securities and Investments Commission (ASIC) chairman Greg Medcraft said, ahead of the Senate report on the inquiry into the regulator. The Senate Economics ...

Ripoll labels Cormann's FoFA changes "a stunt"

LAURA MILLAN  |  FRIDAY, 20 JUN 2014
"What a stunt" was Labor MP Bernie Ripoll's first reaction to the government's announcement that it will ban commissions on general advice. "Commissions have already been banned. By Labor," Ripoll said on Twitter. "Liberals say they will ban commissions ...

Advisers applaud "historic" ban on commissions

LAURA MILLAN  |  FRIDAY, 20 JUN 2014
Financial advice associations and the Financial Services Council (FSC) have applauded the "historic" ban on commissions in general advice and welcomed the government's changes to the Future of Financial Advice (FoFA) law. "We are extraordinarily pleased ...