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Showing 41 - 50 of 143 results for "Interim Report"

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... wealth stack: funds management, financial advice, superannuation and platforms. Responding to the Commissioner's interim report late last year, Australia's big four banks, AMP and Macquarie said Hayne should avoid recommending legislative action ...

Life risk commissions must also go: Hayne

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... million and Zurich paid $113 million. Opposition to abolishing life risk insurance commissions Submissions to the RC interim report pointed out that the January 2018 changes to life risk insurance commissions could leave people underinsured. "I doubt ...

Grandfathered commissions to be banned

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... no justification for maintaining the grandfathering provisions." Hayne said submissions made in response to the interim report supported ending grandfathered commission payments to financial advisers and from superannuation accounts. Hayne said each ...

Managed accounts not immune to Royal Commission

KARREN VERGARA  |  TUESDAY, 22 JAN 2019
... interest as larger institutions. Commissioner Kenneth Hayne lambasted the prevalence of conflicts of interest in the interim report. It is an area Wivell Plater "confidently" predicts Commissioner Hayne will recommend increased focus in the final report ...

Minimum SMSF balance misleading: SuperConcepts

JAMIE WILLIAMSON  |  MONDAY, 14 JAN 2019
... (SMSFs) is "way off", according to SuperConcepts. Despite it being half the balance the commission recommended in its interim report, SuperConcepts believes the $500,000 minimum threshold is still misleadingly high as a measure of cost-effectiveness. ...

Specialist SMSF advisers need only apply

JAMIE WILLIAMSON  |  THURSDAY, 10 JAN 2019
... minimum balance requirement is too blunt an instrument. This is in contrast to a suggestion in the commission's interim report that a minimum balance of $1 million be introduced. Instead, the Productivity Commission has simply put advisers on notice ...

Ten stories that defined the Royal Commission

HARRISON WORLEY  |  WEDNESDAY, 19 DEC 2018
... products offering little to no value called out for leading to poor consumer outcomes. Hayne admonishes ASIC In his interim report released late in September, Commissioner Kenneth Hayne criticised ASIC's negotiation strategies and tardiness in remediating ...

ASIC sharpens focus on managed accounts

KARREN VERGARA  |  TUESDAY, 18 DEC 2018
... substantial number of potential policy considerations, it didn't reference a specific type of managed accounts in the interim report. The Regulatory Group nevertheless formulated a submission focusing on those questions that affect managed account professionals ...

Industry dubious about one regulatory body: Survey

KARREN VERGARA  |  MONDAY, 10 DEC 2018
... often blamed a lack of resources and funding. Commissioner Kenneth Hayne criticised APRA and ASIC in his September interim report, highlighting several instances of inefficiencies and failure to impose stronger penalties. In its chief focus on governance ...

Vertical integration not to blame

HARRISON WORLEY  |  MONDAY, 26 NOV 2018
... for the industry misconduct exposed in the Royal Commission. In their responses to Commissioner Kenneth Hayne's interim report, Australia's big four banks - as well as AMP and Macquarie - went as far as to say Hayne should avoid recommending legislative ...