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Showing 31 - 40 of 125 results for "Hayne Royal Commission"

AMP advances demerger

KARREN VERGARA  |  TUESDAY, 30 NOV 2021
... internationally." The group has grappled with several cultural, performance and operational challenges since the Hayne Royal Commission. It recently entered into an enforceable undertaking with APRA for misconduct over its superannuation businesses and ...

AMP in enforceable undertaking

JAMIE WILLIAMSON  |  TUESDAY, 16 NOV 2021
... commitments," she said. AMP said that at the end of the CEU, it expects all matters referred to APRA by the Hayne Royal Commission to be concluded. APRA member Margaret Cole said: "AMP is one of the wealth industry's largest and best resourced companies ...

Demand for niche advice firms increases

KARREN VERGARA  |  TUESDAY, 16 NOV 2021
... forex capability are rare and generate a premium. After the 2012 Future of Financial Advice reforms and the Hayne Royal Commission report was released in Feb 2019, many buyers now want to buy only financial planning clients who pay annual fees of between ...

FASEA to reword Standard 3

KARREN VERGARA  |  WEDNESDAY, 3 NOV 2021
... expected to induce you to act other than in the client's best interest." The second is align it to the Hayne Royal Commission findings: "You must not receive any benefit (whether monetary or non-monetary), nor enter into any relationship, that could ...

BOQ divests St Andrew's Insurance

KARREN VERGARA  |  WEDNESDAY, 27 OCT 2021
... post‐tax statutory loss of about $26 million after the transaction. St Andrew's was embroiled in the Hayne Royal Commission for its affiliation with Select AFSL's dodgy sales practices. Select terminated its agreement to distribute and promote ...

ASIC sues former Freedom Insurance staff

KARREN VERGARA  |  MONDAY, 25 OCT 2021
A former Freedom Insurance director and consultant will head to Federal Court for their alleged involvement in aggressive sales tactics. ASIC has commenced civil penalty proceedings against former Freedom Insurance managing director of Keith Cohen and ...

Better Advice Bill gets green light

KARREN VERGARA  |  FRIDAY, 22 OCT 2021
... which introduces a new disciplinary body, passed the senate overnight. Under the Financial Sector Reform (Hayne Royal Commission Response-Better Advice) Bill 2021 (Better Advice Bill), from 1 January 2022, the Financial Services and Credit Panel within ...

Pinnacle backs investment platform

ELIZABETH MCARTHUR  |  FRIDAY, 22 OCT 2021
... industry, and pressures on the financial advice sector. "With the introduction of increased regulation post the Hayne Royal Commission, the exit of the major banks from the wealth management sector and the ongoing reductions in the number of licensed ...

CFS adopts advice consent solution

KARREN VERGARA  |  THURSDAY, 14 OCT 2021
... their clients," he said. The annual renewal obligation came into effect on July 1, as recommended by the Hayne Royal Commission. A client who does not renew an ongoing fee arrangement with their adviser for example, will terminate the arrangement 30 ...

Adviser exam cost jumps under new bill

KARREN VERGARA  |  THURSDAY, 30 SEP 2021
... advice exam, including substantially increasing the cost of each sitting. The Financial Sector Reform (Hayne Royal Commission Response-Better Advice) Bill 2021 exposure draft regulations released yesterday will see advisers sitting the soon-to-be ASIC ...