Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 431 - 440 of 3916 results for "Law"

Regulation, profitability top adviser worries: BT

KARREN VERGARA  |  TUESDAY, 9 JUL 2024
The heavy hand of the law and cost to run a profitable business are the two major worries of financial advisers, a new BT survey shows. Compliance burdens and constant legislative change are keeping financial advisers awake at night as 38% cited regulation ...

First advice reform bill passes parliament

KARREN VERGARA  |  FRIDAY, 5 JUL 2024
The first tranche of the Delivering Better Financial Outcomes (DBFO) legislation passed both the upper and lower houses yesterday. Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill aims to reduce red tape for financial ...

Sequoia professional services lead exits, restructures business

KARREN VERGARA  |  THURSDAY, 4 JUL 2024
Sequoia Financial Group's head of professional services, who worked with a group that attempted to overthrow the current leadership, has left the firm as part of an executive and structural shake-up. Brent Jones was appointed as head of Sequoia's professional ...

Committee calls for 'sick agency' ASIC to be split in half

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
... its abilities and it is time to consider other models, or even new entities, to administer these parts of Australia's law." The committee also said there's too many shortcomings when it comes to the handling of reports of alleged corporate misconduct ...

ATO seeks submissions on defining an 'employee'

ELIZA BAVIN  |  WEDNESDAY, 3 JUL 2024
... 'employee' is not defined in the Taxation Administration Act (TAA), therefore it has its ordinary meaning under common law. "In most cases, it will be self-evident whether an employer and employee, or principal and independent contractor, relationship ...

Panel declares 'unacceptable circumstances' for Sequoia

KARREN VERGARA  |  TUESDAY, 2 JUL 2024
The Takeovers Panel declared that rogue shareholders, which include Glennon Capital, seeking to gain control of Sequoia Financial Group were not transparent about their relationship and breached substantial shareholder laws. In an update to the ASX ...

ASIC takes action against Guildfords FM, director

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
ASIC has cancelled the licence of Guildfords Funds Management and banned its managing director Robert Payne for their involvement in the collapse of Magnolia Capital Group. ASIC found "significant and systemic failures of oversight and compliance" upon ...

New NALE rules, AFCA's super powers passed

KARREN VERGARA  |  THURSDAY, 27 JUN 2024
... legislation, passed both houses of Parliament. Currently, NALE rules apply to all complying superannuation entities. Under the new law, these will no longer apply to large APRA-regulated funds, exempt public sector superannuation funds, pooled superannuation ...

Financial advice profession 'lacks consistent protocols'

ELIZA BAVIN  |  TUESDAY, 25 JUN 2024
The financial advice profession "lacks consistent protocols" for handling suspected financial abuse and there are insufficient whistleblower protections, according to the Financial Advice Association Australia (FAAA). In its submission to the Parliamentary ...

Super account advice fees a sticking point for advice bill: Senate inquiry

KARREN VERGARA  |  FRIDAY, 21 JUN 2024
... cost of financial product advice that are fees charged to member concerned - which will be amended if the bill is passed. The law states that trustees must not directly or indirectly pass the cost of providing financial product advice on to the member ...