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Showing 61 - 70 of 625 results for "Financial Sector"

Benefits of advice reforms yet to materialise

KARREN VERGARA  |  TUESDAY, 24 AUG 2021
... Ongoing fee arrangements; lack of independence statements; and consent to pass on costs are three reforms under the Financial Sector Reform Act. The Design and Distribution Obligations (DDO) will take effect in October while all existing registered financial ...

Single disciplinary body consultation opens

KARREN VERGARA  |  FRIDAY, 6 AUG 2021
... that the intended regulations will come into force on 1 January 2022, subject to the passage of legislation. The Financial Sector Reform (Hayne Royal Commission Response - Better Advice) Bill 2021 (Better Advice Bill) was introduced in parliament on ...

ASIC prepares licensees for reference checks

KARREN VERGARA  |  WEDNESDAY, 21 JUL 2021
... could include suspending or cancelling a licence or imposing licence conditions. The new rules are covered by the Financial Sector Reform (Hayne Royal Commission Response) Act 2020 and ASIC' Reference checking and information sharing protocol, which ...

AMP board adds former banking chief

KARREN VERGARA  |  FRIDAY, 25 JUN 2021
... commissioner on the federal government's National COVID-19 Commission Advisory Board and a member of the Financial Sector Advisory Council. He was also deputy chair of the Australian Bankers Association. AMP chair Debra Hazelton said as chief executive ...

Better Advice regulations hit parliament

KARREN VERGARA  |  FRIDAY, 25 JUN 2021
... becoming law. The minister for superannuation, financial services and the digital economy Jane Hume introduced The Financial Sector Reform (Hayne Royal Commission Response - Better Advice) Bill 2021 in parliament on June 24. Otherwise known as the Better ...

AFCA names two lead ombudsmen

ANNABELLE DICKSON  |  MONDAY, 31 MAY 2021
... legal for St George and practice leader for business banking at Westpac. "Emma and Suanne will bring significant financial sector and legal experience to these important roles," AFCA chief ombudsman David Locke said. Both Curtis and Russell will commence ...

NAB denies underpaying full-time workers

KARREN VERGARA  |  WEDNESDAY, 26 MAY 2021
... employees as part of its ongoing investigation into a payroll bungle, which to date has repaid $55 million. The Financial Sector Union has raised concerns that current and former full-time NAB employees have been underpaid, claiming that they worked ...

Advisers to go forth with claims handling

ANNABELLE DICKSON  |  MONDAY, 26 APR 2021
... varying their AFSL to provide claims handling, following a submission outlining issues. The government passed Financial Sector Reform (Hayne Royal Commission Response) Act 2020 in December 2020 and required AFSLs to include an authorisation to assist ...

APRA releases draft climate change guidance

RACHEL ALEMBAKIS  |  FRIDAY, 23 APR 2021
... government became a party to the Paris Agreement, APRA has been raising awareness of climate-related risks to the financial sector," says APRA chair Wayne Byres. "Given the unique and long-term nature of the risks, however, processes to measure, monitor ...

Pandemic boosts financial sector's engagement

KARREN VERGARA  |  FRIDAY, 23 APR 2021
Financial services employees have never been more engaged in their roles since the global pandemic disrupted the workforce, a new study shows. The global workplace study by ADP, a provider of human resource solutions, found that the shift from office-based ...