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Showing 761 - 770 of 1257 results for "Royal Commission"

Life risk commissions must also go: Hayne

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... caps of 20-60% further when it reviews the impact of the reforms in 2021. It is one of 76 recommendations of the Royal Commission final report. Why get rid of the commissions? Hayne reiterated a multi-billion dollar risk commission payout that was also ...

AFSL reference checking protocols required

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... Australian Banking Association's reference checking protocols should be mandatory for all advice licensees, the Royal Commission has said. In the final report, Commissioner Hayne has called out advice licensees for not sufficiently sharing information ...

Harder for insurers to dodge claims

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... the Royal Commission's recommendation to amend insurance law is enacted. At the round six hearings of the Royal Commission, it was revealed that CommInsure used outdated medical definitions in denying a customer's heart attack claim and did not ...

Misconduct must end: Frydenberg

DARREN SNYDER  |  MONDAY, 4 FEB 2019
The banking, superannuation and financial services Royal Commission has made 76 recommendations to address industry misconduct and Treasurer Josh Frydenberg said the Federal Government will act on each of them. The Treasurer has put the blame of industry ...

OPINION: Post RC, where to now for retail super?

ALEX DUNNIN  |  MONDAY, 4 FEB 2019
After a damning report card by the Royal Commission, the big question is where to now for retail superannuation and its advisory network ecosystem? At least we know what's not part of the answer: the status quo. Retail superannuation may not be ...

Grandfathered commissions to be banned

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
Grandfathered commissions will be banned from 1 January 2021. Responding to the release of the Royal Commission's final report, Treasurer Josh Frydenberg has confirmed the payment of grandfathered commissions will be outlawed. Further, from 1 January ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Royal Commission final report recommends the roles of ASIC and APRA be adjusted when it comes to superannuation oversight. A new independent body will also oversee the regulators. Releasing his final report into Misconduct in the Banking, Superannuation ...

Ongoing service arrangements should be tightened: Hayne

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... been recommended by Commissioner Kenneth Hayne to combat fees for no service conduct. The final report of the Royal Commission has recommended ongoing fee arrangements should be renewed annually by clients. There is currently no requirement to give a ...

Former ACCC chair will lead APRA capability review

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
... Treasurer Josh Frydenberg said a capability review would be launched into APRA and led by Graeme Samuel. The Royal Commission final report recommended regular capability reviews of both APRA and ASIC every four years, with a review of APRA recommended ...

Royal Commission principles not simply an add-on

DARREN SNYDER  |  MONDAY, 4 FEB 2019
A set of ideas or principles aligned to community standards resulting from the financial services Royal Commission must not be solely grafted as optional extras for better business profits, an ethics specialist believes. The Ethics Centre executive ...