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Showing 571 - 580 of 979 results for "Financial System"

Industry braces for majority independent directors

JAMES FERNYHOUGH  |  SUNDAY, 7 DEC 2014
... comprise a majority of independent directors including an independent chair, David Murray has recommended in the Financial System Inquiry final report. If the government implements this recommendation, it would represent a radical change from the current ...

Make financial firms more accountable for products: FSI

ALICE URIBE  |  SUNDAY, 7 DEC 2014
... Commission (ASIC) increased powers to safeguard consumers were central recommendations in the final report of the Financial System Inquiry (FSI) that was handed down today. The inquiry headed up by former Commonwealth Bank chief executive David Murray ...

FSI favours Chile-style default super auction

JAMES FERNYHOUGH  |  SUNDAY, 7 DEC 2014
... default fund auction process similar to the Chilean model if fees do not come down considerably by 2020. The Financial System Inquiry final report has argued that superannuation fees have not fallen as low as they could have done, due largely to an "absence ...

Murray calls for ASIC to have more money and power

MARK SMITH  |  SUNDAY, 7 DEC 2014
... more money to do its job. Those were the recommendations laid out by David Murray in his final report to the Financial System Inquiry (FSI). "Regulators' funding arrangements and enforcement tools have some significant weaknesses, particularly in the ...

Rename general advice, disclose ownership: FSI

LAURA MILLAN  |  SUNDAY, 7 DEC 2014
... 'general advice' is misleading consumers and should be replaced with a term that helps reduce misinterpretation, the Financial System Inquiry (FSI) recommended. "The use of the word 'advice' may cause consumers to believe the information is tailored ...

Murray's FSI: consumers win round one

ALEX DUNNIN  |  SUNDAY, 7 DEC 2014
Everything is political and especially so with the super-charged high stakes poker game on display in the Financial System Inquiry (FSI) where the battle lines were quickly drawn between financial product providers versus consumers. And after listening ...

Banks should hold more capital: Murray

AAP  |  SUNDAY, 7 DEC 2014
... Australian banks should be forced to hold more capital to minimise their risk of failure and improve competition, the Financial System Inquiry has found. The final report of David Murray's blueprint for the future of Australia's financial system, released ...

Change insurance commissions to fight churning: FSI

LAURA MILLAN  |  SUNDAY, 7 DEC 2014
The Financial System Inquiry (FSI) final report has recommended that upfront commissions for life insurance advice not be greater than ongoing commissions, in order to fight churning practices. The inquiry led by chairman David Murray noted that such ...

Financial System Inquiry recommendations wrap

STAFF WRITER  |  SUNDAY, 7 DEC 2014
The Financial System Inquiry (FSI) has made 44 recommendation to increase efficiency, resilience and fair treatment of the financial system. Read below the relevant recommendations for the superannuation, wealth management and funds management industries. ...

MTAA hails 'a third, a third, a third' board structure a success

JAMES FERNYHOUGH  |  FRIDAY, 5 DEC 2014
The Financial System Inquiry report will be released this Sunday, and it is widely expected to have something to say about superannuation fund governance - namely, that the boards of super funds should have a quota of independent trustees. While many ...