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Showing 511 - 520 of 1635 results for "Recommended"

Accountant banned for bad SMSF advice

HARRISON WORLEY  |  TUESDAY, 19 FEB 2019
... accountancy practice - Saber Accountants - prepare the annual accounts and tax returns for SMSF clients, she had effectively recommended the services of a related party so as to earn extra revenue for herself. ASIC Commissioner Danielle Press said financial ...

ASIC appeals Westpac Federal Court decision

JAMIE WILLIAMSON  |  MONDAY, 18 FEB 2019
... BT Funds Management (BTFM) had breached the Corporations Act in 2014, during two telephone campaigns in which staff recommended the rollover of superannuation accounts to Westpac/BT super products. However, the judge said ASIC failed to prove the phone ...

Adviser asked to cover regulator costs

KANIKA SOOD  |  MONDAY, 18 FEB 2019
... issued orders against a man who ran an unlicensed advice business and collected kickbacks on investment properties he recommended to his SMSF clients. Richard Gardner and Advanced Wealth Financial Services Pty Ltd (where Gardner was the sole director ...

Government moves on Royal Commission super recommendations

HARRISON WORLEY  |  WEDNESDAY, 13 FEB 2019
... superannuation trustees for breaching their covenants or the director's covenant of obligations, which Hayne also recommended. During the Commission's public hearings, industry super fund Hostplus was questioned about repeatedly spending more ...

The $500k price tag on bad super choices

KANIKA SOOD  |  FRIDAY, 8 FEB 2019
... super fund to look after them and help them save for their retirement." "While the recent Productivity Commission recommended major reforms to the superannuation industry that should see Australia's poorest performing super funds chased out of the ...

Synchron slams RC on commissions

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... advisers some concern, according to Synchron director Don Trapnell. On Monday, Commissioner Kenneth Hayne formally recommended an end to grandfathered commissions, and asked government to push to its current 20-60% commission caps on sale of life risk ...

Grandfathered commissions deadline challenging: AFA

JAMIE WILLIAMSON  |  WEDNESDAY, 6 FEB 2019
... Gori said the association submitted to the Royal Commission in March 2018 in favour of the ban. At the time, the FPA recommended a three-year transition period with 2021 being the deadline. "The Government has effectively adopted our recommendation ...

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 ...

Harder for insurers to dodge claims

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... made on accidental death policies over the previous five years, while reaping $121 million in premiums. Hayne today recommended the government amend the Insurance Contracts Act to rid such instances. " Section 29(3) of the Insurance Contracts Act should ...

Ongoing service arrangements should be tightened: Hayne

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
An overhaul of ongoing fee arrangements has been recommended by Commissioner Kenneth Hayne to combat fees for no service conduct. The final report of the Royal Commission has recommended ongoing fee arrangements should be renewed annually by clients. ...