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Showing 891 - 900 of 1691 results for "Royal"

Institutions respond to Royal Commission, make commitments

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
Australia's largest financial institutions said they are committed to improvement following the release of Royal Commission's final report. Landing yesterday, the report was scathing in its assessment of banking executives. Commissioner Hayne said the ...

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... 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 point should be ...

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
The business model under fire for much of the Royal Commission has escaped punishment in Kenneth Hayne's final report. In handing over his 76 recommendations to improve the banking and financial services industry in Australia, Hayne avoided calling ...

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 ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... 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, which he ...

Life risk commissions must also go: Hayne

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... shrink these caps of 20-60% further when it reviews the impact of the reforms in 2021. It is one of 76 recommendations of the Royal Commission final report. Why get rid of the commissions? Hayne reiterated a multi-billion dollar risk commission payout ...

AFSL reference checking protocols required

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... the Australian Banking Association's reference checking protocols should be mandatory for all advice licensees, the Royal Commission has said. In the final report, Commissioner Hayne has called out advice licensees for not sufficiently sharing information ...

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 ...

OPINION: Post RC, where to now for retail super?

ALEX DUNNIN  |  MONDAY, 4 FEB 2019
After a damning report card by the Royal Commission, the big question is where to now for retail superannuation and its advisory network ecosystem? At least we know what's not part of the answer: the status quo. Retail superannuation may not be ...