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Showing 1 - 10 of 274 results for "Financial System Inquiry"

Bragg calls for another Financial System Inquiry, critiques ASIC, APRA

ANDREW MCKEAN  |  FRIDAY, 23 FEB 2024
Senator Andrew Bragg has called for another Financial System Inquiry (FSI) to address "structural problems" in the twin peaks of financial sector regulation, ASIC and APRA. In his speech to the Financial Services Council (FSC), Bragg argued that "clear ...

ASIC proposes five-year extension to DDO

ANDREW MCKEAN  |  WEDNESDAY, 16 AUG 2023
... was originally set for a two-year period. DDO was introduced following a recommendation from the 2019 Financial System Inquiry to compel firms to design consumer-centric financial products and optimise distribution strategies. The regulator said it intends ...

Review of ASIC funding model begins

ANDREW MCKEAN  |  TUESDAY, 9 AUG 2022
... the review. The ASIC Industry Funding Model commenced in July 2017, following a recommendation of the Financial System Inquiry that the government introduce a cost recovery model for the regulator. "The IFM is intended to meet the Australian government's ...

UK regulator appoints Camille Blackburn to leadership team

CASSANDRA BALDINI  |  WEDNESDAY, 6 JUL 2022
... Westpac's institutional bank and as a principal advisor to Commonwealth Treasury during the Australian Financial System Inquiry. In more recent years she was chief compliance officer at Aviva Investors and was chair of the Investment Association's ...

Adviser overwhelm explained

ELIZABETH MCARTHUR  |  TUESDAY, 21 SEP 2021
... there was an inquiry into ASIC and the issues in Commonwealth Financial Planning. The same year saw the Financial System Inquiry and the parliamentary joint committee proposal to lift professional standards. In 2015, there was the Trowbridge inquiry ...

ASIC not recommending general advice change

JAMIE WILLIAMSON  |  WEDNESDAY, 5 MAY 2021
ASIC has confirmed it will not be recommending changing the label of 'general advice', after independent research commissioned by the regulator found such a move is unlikely to prevent consumer confusion. Both the Financial System Inquiry's ...

ASIC to take targeted approach with PIP

ELIZA BAVIN  |  WEDNESDAY, 17 FEB 2021
... intervention may result in less regulation of industry overall," Hughes said. "In recommending PIP, the Financial System Inquiry identified the objective of limiting or avoiding the future need for more prescriptive regulation." Hughes also spoke about ...

RBA adds former BT director to board

ELIZA BAVIN  |  FRIDAY, 18 DEC 2020
... director of BHP, BT Investment Management and Westpac. Hewson has also served as a panel member of the Financial System Inquiry and is a member of the Growth Centres Advisory Committee. Her term will commence on 29 March 2021 following the conclusion ...

Design, distribution obligations guide released

KARREN VERGARA  |  FRIDAY, 11 DEC 2020
... over time," Chester said. She added that the new obligations are a "game changer" for the industry. The Financial System Inquiry recommended the obligations in 2014, finding that disclosure alone is unlikely to correct the effect of broader market structures ...

Why has ASIC still not got a chief executive?

KANIKA SOOD  |  THURSDAY, 19 NOV 2020
... chief executive equivalent role, despite a previous report's recommendation to do so. David Murray's Financial System Inquiry recommended the financial regulators undergo periodic capability reviews. As a part of this, ASIC's capability review in 2015 ...
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