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Showing 31 - 40 of 51 results for "Industry Funding"

ASIC targets retirement products and services

KARREN VERGARA  |  MONDAY, 4 SEP 2017
... the industry-led reform package using life insurance policies, remuneration, lapse rates and clawbacks. ASIC's industry funding model, which was passed into law on 15 June, will begin issuing its first invoices in January 2019. "Significantly, the introduction ...

ASIC enters new era as industry funding model passes

ALEX BURKE  |  FRIDAY, 16 JUN 2017
... important milestone not just for ASIC, but also for the companies and wider corporate sector that we regulate." "Industry funding, in one form or another, applies to other areas of public oversight in Australia and in many comparable economies around ...

Financial dispute authorities combined for 'one-stop-shop'

EMMA RAPAPORT  |  TUESDAY, 9 MAY 2017
... firms. This will be offset by an increase in levies of $3.6 million over three years from 2018-19 under ASIC's Industry Funding Model. The Australian Institute of Superannuation Trustees says that while they support a stand-alone superannuation complaints ...

Increased APRA levies provide regulator with more power

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2017
... firms, which will be offset by increased levies of $3.6 million from 2018-2019 under the recently drafted ASIC Industry Funding Model.

Government pushes ahead with new ASIC funding model

ALEX BURKE  |  FRIDAY, 5 MAY 2017
... Services Kelly O'Dwyer said the model represents "the next step in meeting the Government's commitment to an industry funding model in place from 1 July 2017. Industry funding is a critical component of the Government's plan to improve consumer outcomes ...

Industry model costing good advisers

KARREN VERGARA  |  MONDAY, 3 APR 2017
The proposed industry funding model to help ASIC regulate poor advisers is at the cost of those behaving professionally and ethically, according to the Association of Financial Advisers. The ASIC Supervisory Cost Recovery Levy Bill, which details an ...

Landmark advice reforms pass Senate

EMMA RAPAPORT  |  FRIDAY, 10 FEB 2017
... to the standards-settings body. The Government will now turn its attention to developing and implementing an industry funding model for the standards body. Life Insurance Remuneration Arrangements A day for double celebration, the Corporations Amendment ...

Advisers to foot $24m bill

KERRIE SYDEE  |  TUESDAY, 8 NOV 2016
... proposed industry model to fund the regulator. The figure was released in ASIC's consultation paper on the proposed industry funding model. ASIC forecasts its effort to regulate the financial advice sector in 2016-17 to cost $24 million, 10% of ASIC's ...

ASIC secures $210m in compensation

ALEX BURKE  |  THURSDAY, 3 NOV 2016
... risks." This is compounded by the future sources of revenue that will arise from the government's provision of industry funding model for the regulator. In the report, ASIC said: "An industry funding model for ASIC will ensure there is greater alignment ...

Professional standards legislation reaches parliament

KERRIE SYDEE  |  MONDAY, 17 OCT 2016
... large banks and AMP. Once the standards body is operational the government has stated it will develop an ongoing industry funding model that will be implemented "as soon as practicable." The new body will be integral to the reforms and will be responsible ...