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Showing 891 - 900 of 6072 results for "Commission"

FAR draft legislation released

KANIKA SOOD  |  MONDAY, 19 JUL 2021
... Executive Accountability Regime (BEAR) which has applied to banks since July 2018. In February 2019, the Hayne Royal Commission recommended extending BEAR to include APRA-regulated entities including superannuation funds and insurers, following which ...

ASIC releases grandfathered arrangement findings

KARREN VERGARA  |  FRIDAY, 16 JUL 2021
... charging an ongoing fee, an hourly rate or a fixed price or an asset-based fee, it found. The financial services Royal Commission recommended an end to the grandfathering of conflicted remuneration paid to financial advisers as soon as practicable under ...

Zenith introduces ESG classification

KARREN VERGARA  |  FRIDAY, 16 JUL 2021
More than 800 funds on Zenith Investment Partners' approved product list now have a responsible investment classification. The responsible investment classification aims to help financial advisers with an environmental, social and governance (ESG) ...

No charges in AMP BOLR investigation

JAMIE WILLIAMSON  |  FRIDAY, 16 JUL 2021
... business is "pleased to have closure on the matter". The conduct was the subject of intense scrutiny during the 2018 Royal Commission. At the time, Senior Counsel Assisting Michael Hodge also noted that AMP would dial down fees for orphaned clients rather ...

Former Hillross adviser pleads guilty

ELIZABETH MCARTHUR  |  TUESDAY, 13 JUL 2021
Wael Kourieh, who was an authorised representative of Hillross between 2010 and 2016, has plead guilty to false document charges following an ASIC investigation. Kourieh pleaded guilty to one count of making false documents and one count of using false ...

Insurers dodging Royal Commission reform

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
Last week, the federal government announced exemptions for the insurance industry in relation to Royal Commission reforms. According to the Consumer Action Law Centre, these exemptions allow the insurance industry to side-step the Royal Commission recommendations ...

OnePath to remediate over pressure selling

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
... concerted regulatory action. Notably, the deep dive review also informed the evidence base for several Hayne Royal Commission misconduct case studies. Our review uncovered egregious sales practices, with tens of thousands of consumers paying for products ...

ASIC review of ESG products underway

JAMIE WILLIAMSON  |  THURSDAY, 8 JUL 2021
... taxonomy that seeks to define what can be considered sustainable or climate friendly, and the US Securities and Exchange Commission task force aiming to identify gaps or misstatements in ESG disclosures. Armour also encouraged boards to look out for ...

KLP divests Israeli-linked settlement firms

KARREN VERGARA  |  WEDNESDAY, 7 JUL 2021
Norway's largest pension fund KLP has offloaded 16 companies that operate in banking, construction, infrastructure and telecommunications in Israel connected to occupying Palestinian territory. The pension fund announced on June 5 that following failed ...

Westpac in fresh $87m remediation program

KARREN VERGARA  |  FRIDAY, 2 JUL 2021
The failure of Westpac's former advisers to pass on corporate actions to clients for more than a decade will see the big bank pay a hefty bill. The $87 million that will be remediated affects 32,000 customer accounts, ASIC announced this morning ...