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Showing 81 - 90 of 141 results for "Hayne Royal Commission"

Government merges advice reviews

KARREN VERGARA  |  WEDNESDAY, 21 APR 2021
... work and save time for stakeholders by eliminating consultation times and submissions. In early 2019, the Hayne Royal Commission recommended a review into the quality of advice in three years' time that should be conducted by ASIC. The review should ...

Delay breach reporting law: AFA

KARREN VERGARA  |  FRIDAY, 16 APR 2021
... and risk position with the new regulation. "While there was a myriad of developments to come out of the Hayne Royal Commission, new oversight regimes and more stringent regulatory breach reporting are some of the key areas affecting the financial services ...

ASIC pursues criminal charges in super

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAR 2021
... alleging the funds breached the Corporations Act and ASIC Act. In December 2020, the Financial Sector Reform (Hayne Royal Commission Response) Bill was passed, delaying the ban on super trustees using member's money to pay civil or criminal penalties ...

Government passes advice, super reforms

ANNABELLE DICKSON  |  FRIDAY, 26 FEB 2021
... members within 28 days. Two key pieces of legislation were passed yesterday: the Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020 and passed the Treasury Laws Amendment (Reuniting More Superannuation) Act 2021. The passage of ...

ASIC zeroes in on bad SMSF advice, conduct

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... provide financial service to trustees such as advisers, auditors and products that SMSFs invest in. The Hayne Royal Commission adjusted the roles of ASIC and APRA in superannuation. From 1 January 2021, ASIC was given more powers in super under the SIS ...

Key advice reforms tabled

KARREN VERGARA  |  THURSDAY, 10 DEC 2020
... interest and stamp out fees-for-no service have been tabled in parliament. The Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020 aims to strengthen many weaknesses in the financial advice industry, targeting three key areas: annual ...

Government to wind up FASEA

KARREN VERGARA  |  WEDNESDAY, 9 DEC 2020
The Financial Adviser Standards and Ethics Authority will be made redundant as two government bodies take over its remit. Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator Jane Hume announced on December 9 that ...

AAT refuses Allegra AFSL

ANNABELLE DICKSON  |  THURSDAY, 3 DEC 2020
... Danielle Press said the decision reinforces the recent licensing reforms under the Financial Sector Reform (Hayne Royal Commission Response-Stronger Regulators [2019 Measures]) Act 2020. The reforms mandate that ASIC must not grant a licence unless it ...

ASIC prepares industry for claims handling law

KARREN VERGARA  |  FRIDAY, 27 NOV 2020
... paper C12 Proof: Claims Handling and Settling Service Statement builds on the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020. The new law, which was introduced in parliament on November 12, will force those providing claims handling ...

Financial adviser reference checks under scrutiny

ELIZABETH MCARTHUR  |  THURSDAY, 19 NOV 2020
... communicate with each other on the background of advisers they were employing. The Financial Sector Reform (Hayne Royal Commission Response) Bill which has been introduced to parliament includes obligations for AFSLs to comply with an ASIC reference ...