Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 71 - 80 of 141 results for "Hayne Royal Commission"

Regulators warn trustees of super advice fee obligations

KARREN VERGARA  |  THURSDAY, 1 JUL 2021
... received Royal Assent, limiting the advice fee deductions from superannuation accounts as recommended by the Hayne Royal Commission. Recommendation 3.3 sought to prohibit the deduction of advice fees (other than for intra-fund advice) from superannuation ...

Better Advice regulations hit parliament

KARREN VERGARA  |  FRIDAY, 25 JUN 2021
... 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 Advice Bill, the proposed ...

Government to create ASIC, APRA regulator

ANNABELLE DICKSON  |  THURSDAY, 24 JUN 2021
... Regulation Authority (APRA). Under the Financial Regulator Assessment Authority Bill 2021, based off the Hayne Royal Commission recommendations 6.13 and 6.14, the Financial Regulator Assessment Authority (FRAA) will be established. Recommendation 6.13 ...

AFA defends industry against Labor attack

KARREN VERGARA  |  MONDAY, 21 JUN 2021
... advice - the kind of advice we've seen again and again and again, the kind of advice exposed in the Hayne Royal Commission," she went on to say. "There are inadequate protections for consumers, and this bill further exposes people to these risks. ...

ASIC takes on NAB for fee-for-no service breaches

KARREN VERGARA  |  FRIDAY, 18 JUN 2021
... remediation programs are limited and not comprehensive and do not cover all of the clients affected. In 2018, the Hayne Royal Commission heard NAB and its two trustees, NULIS Nominees and MLC Nominees, breached the Corporations Act and Superannuation ...

AMP sued for charging dead clients

JAMIE WILLIAMSON  |  THURSDAY, 27 MAY 2021
... deducted in advice fees, with $75,000 received during the period. The misconduct was first revealed by the Hayne Royal Commission in 2018, where it was made public that staff were aware deceased client accounts were being charged. According to ASIC's ...

Hostplus eyes Intrust merger

KANIKA SOOD, ELIZABETH MCARTHUR  |  FRIDAY, 21 MAY 2021
... management. The board document was put on public record as a part of materials requested and published by the Hayne Royal Commission. In 'Project Sunshine', as the strategic plan called it, Hostplus identified Queensland as a priority market. ...

Advisers to go forth with claims handling

ANNABELLE DICKSON  |  MONDAY, 26 APR 2021
... 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 with insurance claims. However ...

Adviser numbers at five-year low

KARREN VERGARA  |  FRIDAY, 23 APR 2021
... five years ago, adviser numbers floated above 20,000 and peaked at nearly 30,000 at the end of 2018 as the Hayne Royal Commission was finalising its verdict. On a year-on-year comparison, the number of advisers dropped 11% at the end of March 2021. The ...

ASIC opens breach reporting consultation

ANNABELLE DICKSON  |  THURSDAY, 22 APR 2021
... draft guidance is based on reforms made to the breach reporting regime under the F inancial Sector Reform (Hayne Royal Commission Response) Act 2020 and expand and clarifies the types of situations that must be reported to ASIC. The reforms, which are ...