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Showing 41 - 50 of 123 results for "Hayne Royal Commission"

ASIC to ease hardline stance

KARREN VERGARA  |  FRIDAY, 27 AUG 2021
The federal government is expecting ASIC to tone down its regulatory powers even though the Hayne Royal Commission exposed its ineffectiveness at enforcing corporate law. Federal treasurer Josh Frydenberg overnight released a new set of expectations ...

AMP flags recovery, profit jumps

KARREN VERGARA  |  THURSDAY, 12 AUG 2021
... performances from AMP Bank and its stakes in Resolution Life and the China Pension Life Company. In the pre-Hayne Royal Commission days, AMP boasted a 2017 half-year NPAT of $533 million, while its share price traded over $5. AMP shares closed at $1.08 ...

Asendium partners with regtech

KARREN VERGARA  |  MONDAY, 9 AUG 2021
... consumers." Fourth Line was established in 2019 in conjunction with law firm Mills Oakley in response to the Hayne Royal Commission. It currently works with licensees such as Interprac, GPS Wealth and Wealth Today. Fourth Line chief executive David Travers ...

Single disciplinary body consultation opens

KARREN VERGARA  |  FRIDAY, 6 AUG 2021
... come into force on 1 January 2022, subject to the passage of legislation. The Financial Sector Reform (Hayne Royal Commission Response - Better Advice) Bill 2021 (Better Advice Bill) was introduced in parliament on June 24. It passed the House of Representatives ...

Investors lose in viral stock picks

ELIZABETH MCARTHUR  |  THURSDAY, 5 AUG 2021
... 2023, while quality advice becomes too expensive for many in the wake of new restrictions imposed after the Hayne Royal Commission." He added that because of this shift, more money than ever seems to be invested by unadvised and inexperienced individ ...

RI Advice failed oversight obligations: Court

KARREN VERGARA  |  MONDAY, 2 AUG 2021
... by ANZ Banking Group. RI Advice is now owned by IOOF Holdings. The case was under the spotlight at the Hayne Royal Commission. ASIC commenced proceedings against RI Advice and Doyle in October 2019, seeking declarations of contravention, compliance orders ...

Broken advice industry shuns everyday Aussies: AFA

KARREN VERGARA, ANNABELLE DICKSON  |  THURSDAY, 29 JUL 2021
... they are spending less time now with their clients," Nowak said. Significant legislative reforms since the Hayne Royal Commission have driven up the costs of running a practice, this includes ASIC's growing industry funding levy, and consequently ...

AMP shakes up advice service model

KARREN VERGARA, JAMIE WILLIAMSON  |  MONDAY, 26 JUL 2021
... be brought against the AMP group. AMP's BOLR measures have been under close scrutiny since the 2018 Hayne Royal Commission. In an early hearing, senior counsel assisting Rowena Orr highlighted instances in which service fees were still charged after ...

ASIC consults on anti-hawking rules

KANIKA SOOD  |  THURSDAY, 22 JUL 2021
... Anti-hawking reforms are slated for an October 5 start. They are a part of the government's response to the Hayne Royal Commission, which said hawking meant Australians were getting sold financial products they did not need or want. The consultation ...

ASIC prepares licensees for reference checks

KARREN VERGARA  |  WEDNESDAY, 21 JUL 2021
... cancelling a licence or imposing licence conditions. The new rules are covered by the Financial Sector Reform (Hayne Royal Commission Response) Act 2020 and ASIC' Reference checking and information sharing protocol, which both take effect on October ...