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Showing 1 - 10 of 152 results for "Financial Services Royal Commission"

Admin and compliance taking up 56% of advice practice costs

ELIZA BAVIN  |  MONDAY, 18 NOV 2024
... industry has been grappling with the fragmentation and inefficiencies that arose after the 2018 Financial Services Royal Commission, which led to the exit of major banks from providing advice. The industry is simply not equipped to meet the growing need ...

Pride Advice acquires two Adelaide-based firms

MATTHEW WAI  |  TUESDAY, 8 OCT 2024
... tax-related guidance are now deductible. "The cost of financial advice has increased since the Financial Services Royal Commission handed down its findings five years ago, and the number of financial advisers has significantly decreased," Schatto said. ...

AMP Super trustee has additional licence conditions removed

ANDREW MCKEAN  |  FRIDAY, 2 AUG 2024
... additional licence conditions lifted, marking the end of all outstanding matters raised by the Financial Services Royal Commission. N.M. Super, which controls the AMP Super Fund and Wealth Personal Superannuation and Pension Fund, which collectively ...

'Just do what you say you'll do': ASIC's message to trustees

JAMIE WILLIAMSON  |  FRIDAY, 10 MAY 2024
... calling altogether. "Unfortunately, some funds and advisers are forgetting the lessons of the Financial Services Royal Commission and the horror of 'fees for no service'. Right now, some within the industry are calling for the removal of obligations ...

Adviser registration deadline extended again

KARREN VERGARA  |  WEDNESDAY, 20 SEP 2023
... capital raisings. Mandatory adviser registration was a recommendation that stemmed from the Financial Services Royal Commission.

Munich Re targets AMP over alleged reinsurance misconduct

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
... shareholders due to a violent drop in share price following allegations of misconduct by the Financial Services Royal Commission. Most of the $110 million settlement will come from AMP's available insurance proceeds. However, AMP said that it makes "no ...

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
... AMP shareholders whose share price tanked following revelations of alleged misconduct by the Financial Services Royal Commission. In May 2019, the NSW Supreme Court ordered the litany of class actions levelled against AMP to merge into one after the ...

Trustees to disclose more remuneration details

KARREN VERGARA  |  WEDNESDAY, 2 AUG 2023
... shine a light on the impact of risk failures and bad behaviour on remuneration outcomes. "The financial services Royal Commission demonstrated conclusively how poorly designed and executed remuneration frameworks can lead to bad outcomes for the community ...

Financial adviser registration delayed

ANDREW MCKEAN  |  THURSDAY, 3 NOV 2022
... central registration requirement for financial advisers, in line with recommendation 2.10 of the Financial Services Royal Commission. Treasury said this change was made to give full effect to the new disciplinary system for financial advisers, allowing ...

ANZ told to pay $25m for 20-year failure

JAMIE WILLIAMSON  |  THURSDAY, 27 OCT 2022
... penalties has resulted from the Royal Commission so far. "The penalties handed down from ASIC's Financial Services Royal Commission enforcement work should act as a reminder to financial institutions that they must invest in their systems to ensure consumers ...
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