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Showing 31 - 40 of 142 results for %22Kenneth Hayne%22

ASIC warns trustees on employer inducements

KARREN VERGARA  |  THURSDAY, 1 AUG 2019
... decision-making is critical to addressing potential consumer harms, Press said. One sticking point for Commissioner Kenneth Hayne at the time was that s68A did not go far enough in preventing "treating" employers, and called for a civil penalty provision ...

Final nail in the coffin for grandfathered commissions

KANIKA SOOD  |  TUESDAY, 30 JUL 2019
... paid on existing investments. However, ending the payment of such commissions was a key recommendation in Commissioner Kenneth Hayne's final report on the Royal Commission released in February which made 76 recommendations that the government agreed ...

Wealth management investigations spike

KANIKA SOOD  |  FRIDAY, 21 JUN 2019
... while investigations into wealth management increased 129%. In the Royal Commission's final report, commissioner Kenneth Hayne recommended when ASIC identifies misconduct, its starting point should be "why not litigate?" instead of the "negotiate" tack ...

Superannuation reforms underway

KARREN VERGARA  |  FRIDAY, 21 JUN 2019
... making ASIC the lead conduct regulator in superannuation. The Government is committed to implementing all of Commissioner Kenneth Hayne's 76 recommendations and in some cases has gone the extra mile, she said. "This includes 15 recommendations and ...

Risk commission changes imperil advice practices

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2019
... competition, as only the largest institutions will be able to survive, it said. Under Recommendation 2.5, Commissioner Kenneth Hayne said ASIC should consider further reducing the cap on commissions for life risk insurance products - unless there is ...

Big four satisfaction on road to recovery

HARRISON WORLEY  |  TUESDAY, 28 MAY 2019
Around four months after Kenneth Hayne handed down his final report into misconduct in financial services, customers of the big four banks are starting to feel more satisfied. Latest Roy Morgan findings show customer satisfaction with Australia's largest ...

Super stability not guaranteed: Rice Warner

HARRISON WORLEY  |  FRIDAY, 24 MAY 2019
... requirements of APRA's member outcomes regime. The firm noted the Government would also implement most of Commissioner Kenneth Hayne's recommendations from the Royal Commission, adding another layer of change to the sector. "While the industry would ...

APRA to boost staff numbers

HARRISON WORLEY  |  FRIDAY, 12 APR 2019
... prevention as our primary goal." Byres also noted the cases referred to the prudential regulator by Commissioner Kenneth Hayne would continue to be assessed, but do not carry civil or criminal penalty provisions directly. "We continue to gather evidence ...

Technical Services Forum: Keep advisers informed of change

HARRISON WORLEY  |  THURSDAY, 11 APR 2019
... circumstances." Later, Ash St. legal and advisory director of governance, compliance and regulatory Samantha Carroll recapped Kenneth Hayne's final Royal Commission report, highlighting the biggest lessons for the financial advice sector. Carroll ...

Government bans superannuation funds treating employers

KARREN VERGARA  |  WEDNESDAY, 10 APR 2019
... civil penalty provisions, it can be slapped with a fine of up to 2000 penalty units. The Bill brings to life Commissioner Kenneth Hayne's recommendation against treating of employers from the Royal Commission final report. Hayne found legislation ...