Search ResultsShowing 1 - 10 of 100+ results for "Commissioner Kenneth Hayne"
Support staff should meet FASEA standards
ELIZABETH MCARTHUR  |  FRIDAY, 20 SEP 2019
... Commission report that apply to advice. When it comes to life insurance advice, Ashenden explained Commissioner Kenneth Hayne's recommendation that ASIC is due to review life insurance advice in 2021 and the regulator should conduct that review. Hayne ...
One regulatory regime enough: FSC
HARRISON WORLEY  |  FRIDAY, 13 SEP 2019
The Financial Services Council echoed the advice of Commissioner Kenneth Hayne in its call for a "significant" simplification of the regulatory system for tax and financial advisers. In a submission to the independent review of the Tax Practitioner's ...
Frydenberg flags new advice disciplinary system
HARRISON WORLEY  |  MONDAY, 19 AUG 2019
... implementation roadmap released today. Revealing how the government will tackle the 76 recommendations made by Commissioner Kenneth Hayne in his landmark report into misconduct in Australia's financial services system, Treasurer Josh Frydenberg said ...
Unfair contract terms extended to insurance
KARREN VERGARA  |  FRIDAY, 2 AUG 2019
... In recommendation 4.7, the application of unfair contract terms provisions to insurance contracts, Commissioner Kenneth Hayne said there was no reason to exempt insurance contracts from UCTs where it is appropriate for financial products and services ...
ASIC warns trustees on employer inducements
KARREN VERGARA  |  THURSDAY, 1 AUG 2019
... decision-making is critical to addressing potential consumer harms, Press said. One sticking point for Commissioner Kenneth Hayne at the time was that s68A did not go far enough in preventing "treating" employers, and called for a civil penalty provision ...
Final nail in the coffin for grandfathered commissions
KANIKA SOOD  |  TUESDAY, 30 JUL 2019
... existing investments. However, ending the payment of such commissions was a key recommendation in Commissioner Kenneth Hayne's final report on the Royal Commission released in February which made 76 recommendations that the government agreed to implement. ...
Wealth management investigations spike
KANIKA SOOD  |  FRIDAY, 21 JUN 2019
... while investigations into wealth management increased 129%. In the Royal Commission's final report, commissioner Kenneth Hayne recommended when ASIC identifies misconduct, its starting point should be "why not litigate?" instead of the "negotiate" tack ...
Superannuation reforms underway
KARREN VERGARA  |  FRIDAY, 21 JUN 2019
... ASIC the lead conduct regulator in superannuation. The Government is committed to implementing all of Commissioner Kenneth Hayne's 76 recommendations and in some cases has gone the extra mile, she said. "This includes 15 recommendations and one additional ...
Risk commission changes imperil advice practices
KARREN VERGARA  |  WEDNESDAY, 5 JUN 2019
... competition, as only the largest institutions will be able to survive, it said. Under Recommendation 2.5, Commissioner Kenneth Hayne said ASIC should consider further reducing the cap on commissions for life risk insurance products - unless there is ...
Super stability not guaranteed: Rice Warner
HARRISON WORLEY  |  FRIDAY, 24 MAY 2019
... requirements of APRA's member outcomes regime. The firm noted the Government would also implement most of Commissioner Kenneth Hayne's recommendations from the Royal Commission, adding another layer of change to the sector. "While the industry would ...
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