Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 541 - 550 of 979 results for "Financial System"

Competition for annuities likely to remain low

LAURA MILLAN  |  FRIDAY, 27 MAR 2015
... banks and life insurers, "are not in a position to compete in the near term." The report said that following the Financial System Inquiry (FSI) recommendations, "the banks currently have capital constraints and have recently experienced losses and low ...

ASIC penalties 'like being hit with a lettuce leaf': Murray

LAURA MILLAN  |  WEDNESDAY, 25 MAR 2015
... Australian Securities and Investment Commissions (ASIC) are so weak that they are like being hit with a lettuce leaf, Financial System Inquiry chair David Murray said. Speaking at a panel session at the ASIC summit, only two seats away from ASIC chairman ...

FSC supports longer threshold for unclaimed life insurance

ALEX BURKE  |  THURSDAY, 19 MAR 2015
... 2012-2013. Loane said that the decision to change the threshold back to seven years was "backed by David Murray's Financial System Inquiry which found this would halve the number of claims." She added, "Under the three year rule there was no nexus between ...

Super governance at centre stage

ANDREW BRAGG, FSC DIRECTOR OF POLICY AND GLOBAL MARKETS  |  WEDNESDAY, 11 MAR 2015
... There will be a broad based tax review - the Tax White Paper, a government policy response to David Murray's Financial System Inquiry, reforms to lift financial adviser competency standards, completion of Mark Johnson's exporting of funds management ...

Super funds turning to passive to tackle high fees

MARK SMITH  |  MONDAY, 9 MAR 2015
... passively managed by a representative basket of retail funds has risen from 24.0% in 2011 to 46.6% in 2013. The Financial System Inquiry has put the spotlight on superannuation fees in recent months, questioning why costs are high next to global peers. ...

Borrowing magnifies risk: David Murray

ALEX BURKE  |  MONDAY, 2 MAR 2015
... asset base." The reason for this, he argued, was that borrowing magnifies risk. "Our concern was that in the financial system we have leverage or borrowing risk in the banking system, and we do not want to exacerbate that risk in the superannuation system." ...

FSI proposal to ban LRBAs "draconian"

LAURA MILLAN  |  THURSDAY, 12 FEB 2015
The Financial System Inquiry (FSI)'s recommendation to ban limited recourse borrowing arrangements (LRBAs) is "a draconian move that we need to reflect on," the Association of Financial Advisers (AFA)'s chief operating officer Phil Anderson said. "LRBAs ...

Financial services companies owe consumers $15m compensation

LAURA MILLAN  |  MONDAY, 2 FEB 2015
... insurance as a compensation mechanism. "PI Insurance is just not effective," the FOS said, and noted that "the FSI [Financial System Inquiry] interim report identified a clear gap in this area of consumer loss and sought views on how to address this. ...

Industry insurance report to focus on advice remuneration model

LAURA MILLAN  |  FRIDAY, 30 JAN 2015
... remuneration structures. The report is expected to be completed before March 31, when submissions for the final Financial System Inquiry (FSI) report are due, AFA chief executive Brad Fox told Financial Standard. Submissions are due today for the preliminary ...

Asset owners throwing money away in hidden fees

MARK SMITH  |  THURSDAY, 29 JAN 2015
... Ken Shaw, believes local institutions would especially benefit from this kind of cost pattern analysis. "The Financial System Inquiry put the focus squarely on cost in both its interim and final reports. Chairman David Murray and his committee said that ...