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Showing 461 - 470 of 2020 results for "Legislation"

PYSP reunites $4.3bn of lost super

KANIKA SOOD  |  FRIDAY, 19 MAR 2021
The Protecting Your Super Package legislation which asked super funds to hand over inactive accounts to the Australian Taxation Office (ATO) has returned $4.3 billion to members in about 17 months. Between 1 November 2019 and 28 February 2021, nearly ...

NZ overhauls regulation of advice

JAMIE WILLIAMSON  |  FRIDAY, 19 MAR 2021
... with greater trust in the quality of that advice." The reforms have been in the works for several years now, with legislation first introduced to Parliament in 2017. In mid-2019 the Financial Advisers Act 2008 was repealed, and the Financial Services ...

Funds SA appoints director of asset allocation

KANIKA SOOD  |  WEDNESDAY, 17 MAR 2021
... for public sector superannuation schemes, insurers, and endowment funds. It was set up in 1995, under the Funds SA. legislation passed by the South Australian Parliament, with the purpose of investing funds on behalf of the state. It started with just ...

Admin fees could balloon from BFID

KARREN VERGARA  |  TUESDAY, 16 MAR 2021
... ramp up, superannuation funds and industry experts warn. The reforms, which are part of the Your Future Your Super legislation currently sitting before parliament, will force trustees to prove they are acting in the best financial interests of members ...

Chances of CBA admitting to Essential Super wrongdoing "non-existent"

JAMIE WILLIAMSON  |  FRIDAY, 12 MAR 2021
... products for it to sell," CBA's lawyer said. "Fast forward 12 years later when the government introduces MySuper legislation that creates simple super products, the very notion that some journal entries which washed out between a company and its ...

Remediation services profiting from Royal Commission failures

ELIZABETH MCARTHUR  |  THURSDAY, 11 MAR 2021
... financial services where a few people continue to make a lot of money from other people's money and ignorance." Legislation is currently on foot that would require debt management firms to be licensed and bring them under the authority of AFCA. However ...

ASIC takes action against Rest

JAMIE WILLIAMSON  |  TUESDAY, 2 MAR 2021
... their retirement savings to other super funds. Super funds are obligated to process rollovers within three days under legislation introduced in 2013. ASIC claims Rest members were denied their lawful rights to super portability and choice of fund, which ...

Iress to deliver DDO solution

ANNABELLE DICKSON  |  TUESDAY, 2 MAR 2021
... financial situation and needs of the consumers. Iress chief commercial officer Michael Blomfield said the impact of the legislation is broad and there is no solution for the distribution, storage and management of target market determinations (TMD). ...

Government passes advice, super reforms

ANNABELLE DICKSON  |  FRIDAY, 26 FEB 2021
... fees, while funds from Eligible Rollover Funds must now be reunited with members within 28 days. Two key pieces of legislation were passed yesterday: the Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020 and passed the Treasury ...

Big super locking Aussies out of homes: Wilson

ELIZA BAVIN  |  FRIDAY, 19 FEB 2021
... investing in affordable housing is that it could become a reality if the parliament passes the Your Future, Your Super legislation. Fringe backbenchers will soon have the power to pressure the minister to ban any type of super fund investment they don't ...