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Showing 551 - 560 of 1825 results for "Regulation 2014"

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
The business model under fire for much of the Royal Commission has escaped punishment in Kenneth Hayne's final report. In handing over his 76 recommendations to improve the banking and financial services industry in Australia, Hayne avoided calling ...

Harder for insurers to dodge claims

KANIKA SOOD  |  MONDAY, 4 FEB 2019
Insurers will find it tougher to dodge paying out claims if the Royal Commission's recommendation to amend insurance law is enacted. At the round six hearings of the Royal Commission, it was revealed that CommInsure used outdated medical definitions ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Royal Commission final report recommends the roles of ASIC and APRA be adjusted when it comes to superannuation oversight. A new independent body will also oversee the regulators. Releasing his final report into Misconduct in the Banking, Superannuation ...

Former ACCC chair will lead APRA capability review

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Federal Government has appointed a former Australian Competition and Consumer Commission chairman to lead a capability review of the Australian Prudential Regulation Authority. Responding to the Royal Commission's final report into Misconduct ...

New rules for UK retirement income products

JAMIE WILLIAMSON  |  TUESDAY, 29 JAN 2019
The UK's pension fund industry is set to be hit with strict new investing rules, with proposed regulation designed to increase consumer engagement. The Financial Conduct Authority is concerned about consumers moving into drawdown and holding their funds ...

IOOF, ANZ deal not in best interests of members: Morningstar

JAMIE WILLIAMSON  |  WEDNESDAY, 16 JAN 2019
While IOOF remains confident it will be successful in acquiring ANZ's pensions and investments business, Morningstar is not convinced. Despite yesterday's news of amendments to the contract of sale agreed between IOOF and ANZ, the research house said ...

Chief economist update: Safe as burning houses

BENJAMIN ONG  |  MONDAY, 14 JAN 2019
"As safe as houses" is generally an expression which means with no risk of failure. The US sub-prime crisis (circa 2008-2009) showed us this is no longer the case. The continued drop in Australian property prices provides a warning sign that it could ...

PC calls for group insurance review

KARREN VERGARA  |  FRIDAY, 11 JAN 2019
The Productivity Commission is calling for an independent public inquiry into group insurance and floated the possibility of tougher regulation that includes sharper ASIC oversight, among other recommendations. Recommendation 18 in the Productivity ...

APRA, ASIC welcome Productivity Commission's superannuation report

HARRISON WORLEY  |  FRIDAY, 11 JAN 2019
The regulators overseeing financial services in Australia have welcomed the Productivity Commission's recommendations to grant them additional powers. After they were blasted in the Productivity Commission's final report into the efficiency and competitiveness ...

Government needs to rethink CIPRs

KANIKA SOOD  |  THURSDAY, 10 JAN 2019
The government should abandon the Retirement Income Covenant proposed last year, if it can't sufficiently remediate its flaws by the deadline, the Productivity Commission says in the final report. Treasury has already extended the deadline on Comprehensive ...