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Showing 981 - 990 of 1826 results for "APRA."

Superannuation to face BEAR: Hayne

KARREN VERGARA  |  TUESDAY, 5 FEB 2019
The Banking Executive Accountability Regime should be extended to superannuation. This is one of nine recommendations for the superannuation sector Commissioner Kenneth Hayne has pushed for in his final report released overnight. The BEAR came into ...

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
Commissioner 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 ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Royal Commission final report recommends the roles of ASIC and APRA be adjusted when it comes to superannuation oversight. A new independent body will also oversee the regulators. Releasing his final report into Misconduct in the Banking, Superannuation ...

Former ACCC chair will lead APRA capability review

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
The Federal Government has appointed a former Australian Competition and Consumer Commission chairman to lead a capability review of the Australian Prudential Regulation Authority. Responding to the Royal Commission's final report into Misconduct ...

Outflows dent IOOF advice, funds businesses

KARREN VERGARA  |  MONDAY, 4 FEB 2019
IOOF recorded net outflows of $481 million in its financial advice and funds management businesses during the final quarter of 2018. The advice business suffered $295 million of net outflows despite completing the transition of 661 former ANZ-aligned ...

Superannuation smashes gender diversity goals

KARREN VERGARA  |  SUNDAY, 3 FEB 2019
The superannuation fund industry has smashed industry targets of female representation on boards, latest APRA figures show. The number of women represented on boards has increased 9.2% over the last four years, according to APRA's annual super bulletin. ...

AustralianSuper hikes admin fees

KARREN VERGARA  |  WEDNESDAY, 30 JAN 2019
AustralianSuper members will pay 50% more in administration fees from 30 March 2019. Current admin fees of $1.50 will rise to $2.25 a week or an additional $39 per year. It is the $140 billion super fund's first fee increase since January 2009. ...

Australia Day honours recognise industry stalwarts

JAMIE WILLIAMSON  |  TUESDAY, 29 JAN 2019
Several veterans of Australia's financial services industry were recognised over the long weekend in the 2019 Australia Day Honours List. Honoured for their service to the sector, the list features a number of familiar faces, including the chair ...

First neobank granted full banking licence

OSKAH DUNNIN  |  WEDNESDAY, 23 JAN 2019
Volt Bank has become the first neobank to obtain a full banking licence from APRA. Treasurer Josh Frydenberg applauded the news and said it promotes industry competition and company innovation. Likewise, Volt Bank's success shows promise for neobanks ...

SMSF returns not accurate in Productivity Commission report

KANIKA SOOD  |  MONDAY, 21 JAN 2019
The Productivity Commission's final report quoted SMSF costs at "close to double" of the actual cost of running SMSFs $500,000 or less in net assets, Class said. In July last year, Class made a submission to the PC saying APRA and ATO used different ...