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Showing 81 - 90 of 630 results for %22Financial Services Royal Commission%22

ASIC takes on NAB for fee-for-no service breaches

KARREN VERGARA  |  FRIDAY, 18 JUN 2021
... "prolonged under-investment" in its systems, compliance and controls as first exposed by the financial services Royal Commission, which enabled customers to be charged millions of dollars in fees unbeknownst to them. ASIC alleges that the contraventions ...

Advisers win annual renew law relief

KARREN VERGARA  |  FRIDAY, 11 JUN 2021
... advice that reduces costly red tape on industry and maximises outcomes for consumers. The financial services Royal Commission recommended the annual renewal obligations in a bid to stamp out the fee-for-no-service problem that plagued the advice industry. ...

Research on education standards and morals launches

KARREN VERGARA  |  WEDNESDAY, 2 JUN 2021
... determine the impact that these changes may have had on the moral reasoning of advisers. The financial services Royal Commission mandated the professionalisation of advisers, forcing them to undertake further study and abide by a national code of ethics. ...

AMP sued for charging dead clients

JAMIE WILLIAMSON  |  THURSDAY, 27 MAY 2021
... pointed out. AMP and the aforementioned subsidiaries contravened their overarching obligations as Australian financial services licensees to act efficiently, honestly and fairly, the regulator said. "ASIC further alleges that the AMP companies' conduct ...

Aged care expenditure to jump 37%

ALEX DUNNIN  |  TUESDAY, 11 MAY 2021
... residential aged care with $6.5 billion ear-marked for in-home facilities investment. While Australia's aged care system services just a small proportion of older Australians, its inability to cope with the current demand from its 340,000 users, according ...

Suncorp divests super unit to industry fund

KARREN VERGARA  |  WEDNESDAY, 28 APR 2021
... and scale benefits," he said. Suncorp began scouting for potential buyers in February 2020, joining a herd of large financial institutions abandoning life insurance and superannuation. Suncorp Portfolio Services landed in hot water at the banking Royal ...

Mercer launches aged care support service

KARREN VERGARA  |  MONDAY, 26 APR 2021
... the difficulty of accessing and navigating the system. Burkitt said about 1.5 million Australians receive ageing care services and more than ever, adult children are acting as carers for the first time. "One in eight working Australians are currently ...

Adviser numbers at five-year low

KARREN VERGARA  |  FRIDAY, 23 APR 2021
The financial adviser population has reverted to the pre-financial services Royal Commission days, ending at 20,667 in the first quarter of 2021. Rainmaker analysis of ASIC's Financial Adviser Register found that the total number of financial advisers ...

ASIC opens breach reporting consultation

ANNABELLE DICKSON  |  THURSDAY, 22 APR 2021
... brokers. "We support the reform goals to promote consistent, timely and high-quality reports. The Financial Services Royal Commission expressed concern about prolonged and repeated failures by large entities to make breach reports required by the law," ...

Government merges advice reviews

KARREN VERGARA  |  WEDNESDAY, 21 APR 2021
... Quality of Advice Review will consider the LIF Review as part of its wider mandate, Minister for superannuation, financial services, the digital economy and women's economic security Jane Hume announced this morning. Speaking at the annual Financial ...