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Get on top of non-financial risk: ASIC

HARRISON WORLEY  |  WEDNESDAY, 2 OCT 2019
A new ASIC report reveals company boards need to apply more focus and urgency to non-financial risk. ASIC's Director and officer oversight of non-financial risk report shows company management operates outside of board-approved risk appetites for ...

Chief economist update: The greatest central banker of modern times

BENJAMIN ONG  |  TUESDAY, 1 OCT 2019
... virtue." We've heard, read and seen this quote many, many times. This is a quote that's so easy to say but difficult to apply - more so if you're the head of one of the world's biggest central banks, presiding over a fast slowing economy ...

Milestone ETF Rule passed

JAMIE WILLIAMSON  |  FRIDAY, 27 SEP 2019
... the regulator said. The new rule will also make it easier for issuers to launch new ETFs to market, removing the need to apply for individual exemptive relief. The SEC also voted to issue an exemptive order that further harmonises related relief for ...

FASEA ethics pose risk to managed accounts

ELIZABETH MCARTHUR  |  MONDAY, 23 SEP 2019
... conflict of interest or duty" - is poorly worded. When the Code of Ethics comes into effect at the start of 2020 it will apply to all financial advisers. The explanatory notes on Standard 3 say recommending in-house product will be acceptable if the ...

Super trustees must do better: Byres

HARRISON WORLEY  |  FRIDAY, 20 SEP 2019
... increased over the last decade - the difference now came down to the level of pressure the regulator would be willing to apply. "It is not as though there hasn't been any pressure driving the exit of trustees and funds that can no longer meet required ...

Support staff should meet FASEA standards

ELIZABETH MCARTHUR  |  FRIDAY, 20 SEP 2019
... said paraplanners and technical support staff should prepare themselves for the possibility that more stringent rules may apply to them in the future - in the same way that advisers are currently facing new education standards. "You have to think it ...

Chief economist update: This is a job for the RBA (and the Treasury)

BENJAMIN ONG  |  FRIDAY, 20 SEP 2019
... government spending (i.e. fiscal deficits) would "crowd out" private borrowing and therefore, lift interest rates - doesn't apply to the current environment." Heck, businesses aren't even enticed to borrow and invest at these current historic ...

One regulatory regime enough: FSC

HARRISON WORLEY  |  FRIDAY, 13 SEP 2019
... modernising world. "We want Australians to keep their life insurance cover for as long as they need it, without having to apply for a replacement policy each year."

AFCA ombudsman addresses adviser concerns

KRISTI CHENG  |  TUESDAY, 10 SEP 2019
... introduction of legacy complaints. Speaking at a recent Financial Planning Association of Australia event, Singh said AFCA will apply the standard of the relevant time in complaints where laws, codes, or standards have changed, but AFCA rules as of 30 ...

Chief economist update: Germany in the budget's shadow

BENJAMIN ONG  |  TUESDAY, 10 SEP 2019
... Germany's constitution was amended to introduce the Schuldenbremse ("debt brake"), a balanced budget provision. This will apply to both the Federal Government and the Lander (German states). From 2016 onwards the federal government will be forbidden ...