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Showing 8331 - 8340 of 22146 results for "Tim"

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
ASIC's enforcement arm must 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 ...

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 ...

Life risk commissions must also go: Hayne

KANIKA SOOD  |  MONDAY, 4 FEB 2019
Commissioner Kenneth Hayne has recommended ASIC ultimately whittle down the commissions on life insurance products to zero unless there is a clear justification to keep them. On 1 January 2018, advisers' upfront commission for implementing a life ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
Commissioner Kenneth Hayne 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 ...

AFSL reference checking protocols required

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
Financial advice licensees are not doing enough to communicate the background of advisers. As such, compliance with the Australian Banking Association's reference checking protocols should be mandatory for all advice licensees, the Royal Commission ...

Harder for insurers to dodge claims

KANIKA SOOD  |  MONDAY, 4 FEB 2019
Insurers will find it tougher to dodge paying out claims if 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 At the round six hearings of the Royal Commission, it was revealed that CommInsure used outdated medical definitions ...

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 ...

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
An overhaul of ongoing fee arrangements has 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. ...