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Showing 611 - 620 of 2020 results for "Legislation"

ASIC launches investigation into Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... "ASIC can confirm that it commenced an investigation on Thursday, 21 November 2019 concerning possible breaches of legislation it administers arising from AUSTRAC's actions in relation to Westpac." As part of its response to AUSTRAC's statement ...

Life risk insurance not profitable: KPMG

HARRISON WORLEY  |  FRIDAY, 22 NOV 2019
... KPMG's analysis does not yet take into account the impact of the government's now-implemented Protecting Your Super legislation, which it said was likely to put more "downward pressure" on sales in the coming years. KPMG partner and head of insurance ...

Financial planning pioneer to speak at FPA Congress

KANIKA SOOD  |  FRIDAY, 22 NOV 2019
... two rounds of the new FASEA exams. "The Aussies are moving to be the frontrunners in transparency and ethics. The legislation has upset a lot of people but the intent is good that financial planning needs to move from making a sale to ensuring they support ...

Industry fund appoints new group insurer, ups indirect fee

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2019
... has increased from 0.15% to 0.30%. Instrust said the increased fee comes as a result of the Protecting Your Super legislation. "Our weekly administration fee will, however, remain unchanged," Instrust said.

Super fund bumps up premiums

JAMIE WILLIAMSON  |  MONDAY, 18 NOV 2019
... premiums have also risen, going up by 4.2%. First Super said the changes are the result of the Protecting Your Super legislation and claims experience. At the same time, the $3.1 billion fund has introduced a new rule on how many Transition to Retirement ...

NAB faces half a billion in fines

ELIZA BAVIN  |  WEDNESDAY, 13 NOV 2019
National Australia Bank has admitted to breaching credit legislation 255 times over its axed introducer program for mortgages. NAB has filed documents in the Federal Court admitting to 255 of the 295 breaches of the Consumer Credit Protection Act alleged ...

Calls for clarity on personal advice in DDO

KANIKA SOOD  |  MONDAY, 11 NOV 2019
... The definition of personal advice and the treatment of platform operators in the design and distribution obligations legislation must be clarified, the Financial Services Council has argued in its submission. When financial advisers use a platform to ...

FASEA chief unaware of dwindling adviser numbers

JAMIE WILLIAMSON  |  FRIDAY, 1 NOV 2019
... financial advisers for whom the requirements are simply too much. Glenfield answered that it was FASEA's job to implement legislation, before Stoker interrupted, saying: "That doesn't answer the question. Do you recognise that the impact is to push experienced ...

Adviser tampered with MySuper

ELIZABETH MCARTHUR  |  FRIDAY, 1 NOV 2019
... product - even though the clients had not given instructions for this to happen. This is a violation of the MySuper legislation as the government designed MySuper to be an opt-out scheme and Tran's conduct effectively required clients to opt-out, ASIC ...

Labor supports FASEA extension, confusion remains

ELIZABETH MCARTHUR  |  MONDAY, 28 OCT 2019
... is not currently looking at blocking the delay." However, the office qualified this by also saying that the final legislation hasn't actually been introduced into the Parliament yet and Labor will need to examine it thoroughly when it is. A spokesperson ...