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Showing 491 - 500 of 1075 results for "Commissioner"

Platforms steady after Royal Commission

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... Platforms at the big four banks, AMP and IOOF can breathe a sigh of relief after the Royal Commission's final report. Commissioner Kenneth Hayne did not recommend either structural separation or wider approved product lists. And this could slow down ...

Institutions respond to Royal Commission, make commitments

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... Royal Commission's final report. Landing yesterday, the report was scathing in its assessment of banking executives. Commissioner Hayne said the final round of hearings - which saw chief executives and chairs of the big banks, AMP and financial services ...

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... be separated from the regulator's day-to-day dealings with its subjects, the Royal Commission final report said. Commissioner Kenneth Hayne said when ASIC identifies misconduct, its starting point should be "why not litigate?" instead of the "negotiate" ...

Superannuation to face BEAR: Hayne

KARREN VERGARA  |  TUESDAY, 5 FEB 2019
... Accountability Regime should be extended to superannuation. This is one of nine recommendations for the superannuation sector Commissioner Kenneth Hayne has pushed for in his final report released overnight. The BEAR came into effect for large ADIs on ...

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... institution. On a simple cost benefit analysis, Hayne couldn't find a reason to oust the vertical integration model. The Commissioner also said that if the costs of employing professional financial advisers did not reduce (or continued to increase) ...

Conflicts of interest recommendation falls short

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... systemic reforms suggested by some to address conflicts of interest at the heart of most misconduct, ISA said. However, Commissioner Kenneth Hayne did point out in the final report that conflicts of interest arise in both profit-for-member funds and ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
Commissioner Kenneth Hayne took a hard-line against hawking superannuation products and the practices of "treating" employers in his final Royal Commission report. Hayne wants the hawking or unsolicited offer of superannuation products to be prohibited ...

Life risk commissions must also go: Hayne

KANIKA SOOD  |  MONDAY, 4 FEB 2019
Commissioner Kenneth Hayne has recommended ASIC ultimately whittle down the commissions on life insurance products to zero unless there is a clear justification to keep them. On 1 January 2018, advisers' upfront commission for implementing a life ...

AFSL reference checking protocols required

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... checking protocols should be mandatory for all advice licensees, the Royal Commission has said. In the final report, Commissioner Hayne has called out advice licensees for not sufficiently sharing information about advisers with ASIC or other licensees. ...

Harder for insurers to dodge claims

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... makes 15 recommendations on Australia's insurance industry - all of which the government has agreed to implement. Commissioner Kenneth Hayne has asked that the process of handling and settling insurance claims should not be excluded from the definition ...