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Showing 621 - 630 of 2020 results for "Legislation"

SMSF scheme sees creator jailed

ELIZA BAVIN  |  WEDNESDAY, 23 OCT 2019
... with the court finding the fund did not comply with relevant protocol, procedures and requirements of superannuation legislation. Between 2007 and 2009, Nguyen used the fund, called Tot Form Super Fund, to arrange the unlawful early release of superannuation ...

ASIC using intimidation tactics on grandfathering: AIOFP

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
... easier." He indicated that some AMP advisers have gotten behind the High Court action. Following the passing of the legislation on Monday, Johnston expects the number of advisers supporting the AIOFP's action to double or triple within a matter of ...

Grandfathered commissions ban passes

ELIZABETH MCARTHUR  |  TUESDAY, 15 OCT 2019
The legislation that will end grandfathered commissions has passed both houses of federal parliament. Under the reforms, the benefit of any conflicted remuneration payable under a contract must be passed on to the client. The Treasury Laws Amendment ...

No one reads the PDS: ASIC

ELIZABETH MCARTHUR  |  TUESDAY, 15 OCT 2019
... knowledge about their super and what they believed was often misguided," she explained. "It is the role of regulation and legislation to ensure that members are getting fair value for money, rather than relying on members' ability to compare funds through ...

Volcker Rule tweak gets green light

KANIKA SOOD  |  THURSDAY, 10 OCT 2019
Post-GFC legislation that stopped big Wall Street banks from using their customers' money to invest in risky trades has seen a revision that could relax some of the restrictions. On October 8, five United Stated agencies approved the changes to the ...

Complexity of grandfathered commissions overlooked

ELIZABETH MCARTHUR  |  FRIDAY, 27 SEP 2019
... commissions has been overlooked by policy makers. Anderson states in the paper that the 2012 Future of Financial Advice legislation introduced a number of bans that are relevant to the current banning of grandfathered remuneration - including conflicted ...

Senate secures members' interest changes

HARRISON WORLEY  |  FRIDAY, 20 SEP 2019
... to implement the changes and communicate with members. The reprieve is five months more than the Senate Economics Legislation Committee recommended in its inquiry into the bill, which called for a delay from 1 October 2019 to December 1. Hume said the ...

Dealer group to fight grandfathered commissions ban

ELIZABETH MCARTHUR  |  FRIDAY, 13 SEP 2019
... Fund set up by the Association of Independently Owned Financial Professionals to mount a constitutional challenge to legislation to ban grandfathered commissions. Lifespan is encouraging its adviser network to do the same, saying it will top up its donation ...

One regulatory regime enough: FSC

HARRISON WORLEY  |  FRIDAY, 13 SEP 2019
... for illness that currently impact our lifestyles," Loane said. "The FSC submission highlights that any changes to legislation should allow life insurers to make changes to reflect the modernising world. "We want Australians to keep their life insurance ...

Consultation opens on new ASIC powers

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 SEP 2019
Treasury has released draft legislation on enhancing ASIC's powers, including allowing the regulator to tap the phones of those under investigation. The new legislation follows on from the ASIC Enforcement Review Taskforce which made a number of recommendations ...