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Showing 81 - 90 of 181 results for "Kenneth"

Synchron slams RC on commissions

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... cull commissions are causing advisers some concern, according to Synchron director Don Trapnell. On Monday, Commissioner Kenneth Hayne formally recommended an end to grandfathered commissions, and asked government to push to its current 20-60% commission ...

APRA could oversee stalled super fund mergers

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... that, in particular circumstances, addressing a stalled merger would be an appropriate use of such a power," Commissioner Kenneth Hayne said in his final report. The SIS Act asks that trustees of any responsible entity that offers a MySuper product must ...

Royal Commission sobering and overdue: Labor

DARREN SNYDER  |  TUESDAY, 5 FEB 2019
... should be robust and they should be, above all, ethical," Bowen said. Labor, in principle, accepts all of Commissioner Kenneth Hayne's 76 recommendations. "We would have a Treasury taskforce to work with a Shorten Labor government on implementing the ...

Platforms steady after Royal Commission

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... big four banks, AMP and IOOF can breathe a sigh of relief after the Royal Commission's final report. Commissioner Kenneth Hayne did not recommend either structural separation or wider approved product lists. And this could slow down the adviser migration ...

ASIC enforcement must get tough: Commissioner

KANIKA SOOD  |  TUESDAY, 5 FEB 2019
... 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 "why not litigate?" instead of the "negotiate" ...

Superannuation to face BEAR: Hayne

KARREN VERGARA  |  TUESDAY, 5 FEB 2019
... 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 effect for large ADIs on 1 July 2018 and ...

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
... reforms suggested by some to address conflicts of interest at the heart of most misconduct, ISA said. However, Commissioner Kenneth Hayne did point out in the final report that conflicts of interest arise in both profit-for-member funds and retail funds. ...

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 ...

Life risk commissions must also go: Hayne

KANIKA SOOD  |  MONDAY, 4 FEB 2019
Commissioner Kenneth Hayne has recommended ASIC ultimately whittle down the commissions on life insurance products to zero unless there is a clear justification to keep them. On 1 January 2018, advisers' upfront commission for implementing a life ...