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

Search Results

Showing 461 - 470 of 1805 results for "Bill 2014"

ASIC reveals advice remediation progress

HARRISON WORLEY  |  THURSDAY, 1 AUG 2019
A 2017 report by ASIC into how the big banks and AMP oversee financial advisers has netted less than $120 million in remediation to date. AMP, ANZ, Commonwealth Bank, NAB and Westpac have paid a total of $119.7 million [see figure 1] in remediation ...

ASIC warns trustees on employer inducements

KARREN VERGARA  |  THURSDAY, 1 AUG 2019
Corporate regulator ASIC is reinforcing the illegality of superannuation funds inducing employers and the serious consequences that come with breaching the new law. ASIC released Infosheet 241 on Wednesday, reminding trustees that influencing employers ...

Final nail in the coffin for grandfathered commissions

KANIKA SOOD  |  TUESDAY, 30 JUL 2019
The government will introduce legislation this week to end the payment of grandfathered commissions to financial advisers by 1 January 2021. Federal Treasurer Josh Frydenberg and assistant minister for superannuation, financial services and financial ...

Government to close super salary sacrifice loophole

KARREN VERGARA  |  THURSDAY, 25 JUL 2019
New legislation will enforce stronger protections against dodgy employers who short change workers' superannuation savings via salary sacrifice contributions. Assistant Treasurer and Housing Minister Michael Sukkar introduced a raft of tax measures ...

Member interests delay recommended

HARRISON WORLEY  |  WEDNESDAY, 24 JUL 2019
... reforms through Parliament, almost untouched. Releasing the report into its inquiry of the Putting Members Interests First Bill (PMIF), the committee made just two recommendations: to delay the implementation date until December 1, and for the bill to ...

Open Banking gets another shot in parliament

ELIZABETH MCARTHUR  |  WEDNESDAY, 24 JUL 2019
The Morrison Government is reviving its Consumer Data Right bill - which includes the Open Banking changes that would give consumers access to and control of their own financial data. The bill was reintroduced to Parliament and read today. Treasurer ...

Super body opposes member interests bill

HARRISON WORLEY  |  MONDAY, 22 JUL 2019
... Committee's inquiry into the Government's proposal. Steadfastly refusing to support the Putting Members Interests First Bill (PMIF), WIS' submission claimed the proposed reforms would affect many women and their dependants, including those ...

Advice associations weigh in on member interests bill

HARRISON WORLEY  |  FRIDAY, 19 JUL 2019
The peak bodies representing financial advisers have taken similar positions on the Government's latest round of superannuation reforms. In submissions to the Senate Economics Legislation Committee on the Putting Members' Interests First Bill  ...

Reform implementation timeframe too short: AustralianSuper

HARRISON WORLEY  |  WEDNESDAY, 17 JUL 2019
The Government's move to require superannuation trustees to stop providing opt-out insurance to new members under-25 or with low balance accounts by October 1 has riled Australia's largest fund. Airing the fund's position on the Government's ...

Politicians dishonest about fraud: VOFF

HARRISON WORLEY  |  MONDAY, 15 JUL 2019
Victims of Financial Fraud (VOFF) hit out at the Labor Party's treatment of the Trio fraud, claiming Australian politicians are "dishonest" when it comes to handling fraud conduct. In an open letter to Labor's newly minted Shadow Assistant Treasurer ...