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Showing 751 - 760 of 1257 results for "Royal Commission"

CBA posts $4.6b in profits, dividend flat

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
Commonwealth Bank's profits fell more than 6% to $4.6 billion in the first-half of FY19 and the bank kept its interim dividend at $2 per share. The $4.6 billion NPAT includes discontinued operations: CommInsure Life, CFSGAM and Sovereign. The cash ...

APRA could oversee stalled super fund mergers

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
The financial services Royal Commission has suggested APRA's proposed new powers could be used to address stalled super fund mergers. The Parliament is currently waiting to pass a number of changes to the Superannuation Industry (Supervision) Act (SIS ...

Grandfathered commissions deadline challenging: AFA

JAMIE WILLIAMSON  |  WEDNESDAY, 6 FEB 2019
... general manager of policy and professionalism Phil Anderson believes the timeline is problematic. Responding to the Royal Commission's final report, Treasurer Josh Frydenberg announced payment of grandfathered commissions will be banned as of 1 January ...

Royal Commission sobering and overdue: Labor

DARREN SNYDER  |  TUESDAY, 5 FEB 2019
... establish a Treasury taskforce to help implement all of the recommendations from the banking and financial services Royal Commission. Responding immediately after the public release of the Royal Commission's final report, Bowen said it was a document ...

Platforms steady after Royal Commission

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... vertical integration] hasn't occurred means the risk for sharper outflows has reduced," he said. After the Royal Commission, UBS expects the major platforms to reinvest in their businesses to reclaim market share, such as BT Panorma's fee cuts ...

Institutions respond to Royal Commission, make commitments

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
Australia's largest financial institutions said they are committed to improvement following the release of Royal Commission's final report. Landing yesterday, the report was scathing in its assessment of banking executives. Commissioner Hayne said the ...

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... wrangle more muscle but it should be separated from the regulator's day-to-day dealings with its subjects, the Royal Commission final report said. Commissioner Kenneth Hayne said when ASIC identifies misconduct, its starting point should be "why not ...

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
The business model under fire for much of the Royal Commission has escaped punishment in Kenneth Hayne's final report. In handing over his 76 recommendations to improve the banking and financial services industry in Australia, Hayne avoided calling ...

Conflicts of interest recommendation falls short

KARREN VERGARA  |  MONDAY, 4 FEB 2019
Industry Super Australia has criticised the banking Royal Commission final report for falling short of addressing conflicts of interest. Industry Super Australia said the structure of the industry and other profit-to-member super funds has avoided such ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... took a hard-line against hawking superannuation products and the practices of "treating" employers in his final Royal Commission report. Hayne wants the hawking or unsolicited offer of superannuation products to be prohibited, which he believes is in ...