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Showing 711 - 720 of 2022 results for "Legislation"

New reforms to smash major super funds

JAMIE WILLIAMSON  |  TUESDAY, 26 FEB 2019
... according to latest Rainmaker insight. More than five million superannuation accounts are set to benefit from the new legislation passed through the Senate last week, which includes the capping of fees at 3% for all accounts with a balance of $6000 or ...

MLC MySuper switches to lifestage

KANIKA SOOD  |  FRIDAY, 22 FEB 2019
... annum. MLC has removed the exit/entry fees of 0.05% of the amount moved in or out, following the end to exit fees legislation for which was passed by the Senate on February 14. Rainmaker Information executive director of research and compliance Alex ...

More consolidation to come: APRA

JAMIE WILLIAMSON  |  FRIDAY, 22 FEB 2019
... further three could also be headed for the exit door, APRA chair Wayne Byres said. Appearing before the Senate Economics Legislation Committee yesterday, Byres said the regulator has "upped the ante" over the past year in identifying underperforming ...

Super account consolidation to hurt AMP

HARRISON WORLEY  |  MONDAY, 18 FEB 2019
... low balance super accounts to the ATO. Following the Senate passage of the Government's centerpiece superannuation legislation late last week, AMP informed the market it would feel the pinch. The wealth manager said that barring any changes to the Protecting ...

Industry funds wary of stapling default members

KANIKA SOOD  |  FRIDAY, 15 FEB 2019
... Canberra the Senate pored over the Protecting Your Super Bill from last year's budget. The Senate last evening passed legislation to give the Australian Taxation Office (ATO) the power to take inactive accounts under $6000, starting July 1. It also passed ...

Government carves out super deal

HARRISON WORLEY  |  FRIDAY, 15 FEB 2019
The Government's signature superannuation legislation passed through the Senate, but not without victims. Last night the Treasury Laws Amendment (Protecting Your Superannuation Package) Bill 2018 passed the Senate after a deal was struck with the Greens ...

Perfect storm smashes AMP

HARRISON WORLEY  |  THURSDAY, 14 FEB 2019
... put precise percentages to that because the Royal Commission provides direction of travel, but it is not definitive legislation yet. So we will need to work with the regulator, the government and all the other stakeholders as these recommendations get ...

Former super fund executive joins fintech

DARREN SNYDER  |  WEDNESDAY, 13 FEB 2019
... provision," Mills said. She added the findings of the financial services Royal Commission confirmed consumer protection legislation alone can't produce the best outcomes for consumers. "There is an alarming lack of financial capability nationally," Mills ...

Government moves on Royal Commission super recommendations

HARRISON WORLEY  |  WEDNESDAY, 13 FEB 2019
... time. In a media release, Treasurer Josh Frydenberg called on Labor to support the Government's actions, with the legislation before the Senate. "The Government calls on Bill Shorten and the Labor Party to support the amendment which acts on two ...

Hayne report raises professionalism stakes

JAMIE WILLIAMSON  |  MONDAY, 11 FEB 2019
... proposed disciplinary body. Under this framework, Hayne's report overlaps with existing - though yet to be enforced - legislation surrounding the Financial Adviser Standards and Ethics Authority's Code of Ethics. FASEA's code requires advisers ...