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Showing 71 - 80 of 180 results for %22SIS Act%22

Kelaher to leave IOOF

ELIZABETH MCARTHUR  |  THURSDAY, 4 APR 2019
... Industry (Supervision) Act, describing him as someone who "demonstrated a failure to understand the covenants under the SIS Act and obligations of a trustee under trust law." Commenting on the departure of Kelaher, Griffiths said: "The board would like ...

Amendments to retirement income law assent

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
... income streams were not appropriate for the "wide possible range" of complex products the parliament expects to emerge under SIS regulations changes in the future. If those means test rules were to continue under those changes, the income support system ...

Up close and personal: Women in financial services

JAMIE WILLIAMSON  |  FRIDAY, 8 MAR 2019
From chief executives to chief underwriters, risk advisers to mental health and consumer advocates, here are the stories of six women in financial services you should know about. Financial Standard has profiled six women from different parts of the ...

Government moves on Royal Commission super recommendations

HARRISON WORLEY  |  WEDNESDAY, 13 FEB 2019
The Federal Government has amended the SIS Act and some of its superannuation bills to include recommendations made in the Royal Commission's final report. Superannuation fund trustees are set to be banned from treating employers in efforts to be ...

APRA could oversee stalled super fund mergers

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... mergers. The Parliament is currently waiting to pass a number of changes to the Superannuation Industry (Supervision) Act (SIS Act), including giving APRA a power to issue directions to RSE licensees. "It may be that, in particular circumstances, addressing ...

Grandfathered commissions deadline challenging: AFA

JAMIE WILLIAMSON  |  WEDNESDAY, 6 FEB 2019
The removal of grandfathered commissions by 2021 is not as simple as it sounds, according to the Association of Financial Advisers. Acknowledging the recommendation and subsequent announcement of a deadline for removal by Government was inevitable ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... nominating the default fund for their employees by way of entertainment and sporting events, he said. Section 68A of the SIS Act provides that a trustee of an RSE or an associate of a trustee must not supply or offer to supply goods or services to a ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
... relationship between RSE licensees and consumers, and added ASIC should be given power to enforce all provisions in the SIS Act which are or will become civil penalty provisions.

ANZ, IOOF revise wealth sale agreement

JAMIE WILLIAMSON  |  TUESDAY, 15 JAN 2019
... conflicts management frameworks. An independent report from EY suggesting IOOF Investment Management Limited breached the SIS Act and further prudential standards underpins APRA's action. The action was followed by news that IOOF managing director ...

APRA takes action against IOOF

HARRISON WORLEY  |  FRIDAY, 7 DEC 2018
... issued by big-four accounting firm EY which provided a "reasonable basis" to conclude IIML had breached section 52 of the SIS Act and prudential standards SPS 520 and 521, which relate to conflicts of interest. APRA said it would seek to disqualify five ...