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Showing 1 - 10 of 100+ results for "Financial System Inquiry"

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 ...

FPA renews calls for advice definition changes

ANNABELLE DICKSON  |  THURSDAY, 8 OCT 2020
... with the concepts of general and personal advice. The report echoed the recommendations of the Murray Financial System Inquiry and the Productivity Commission reports which suggested the term 'general advice' is likely to lead to false expectations about ...

Financial services laws under review

JAMIE WILLIAMSON  |  TUESDAY, 15 SEP 2020
... the review with the findings of the Royal Commission, Australian Government Competition Policy Review, Financial System Inquiry, Treasury's 2017 ASIC Enforcement Review Taskforce and the Productivity Commission's 2014 report in mind.

New law backs choice of fund

KARREN VERGARA  |  WEDNESDAY, 26 AUG 2020
... comply with the choice of fund requirements," the memorandum said. The bill addresses the findings of the Financial System Inquiry and the Productivity Commission Inquiry into superannuation, which found that denying choice of fund can discourage member ...

ASIC lays out product intervention plans

HARRISON WORLEY  |  THURSDAY, 18 JUN 2020
... ASIC's new "targeted" solving of problems through product intervention. "In recommending the power, the Financial System Inquiry identified the objective of limiting or avoiding the future need for more prescriptive regulation," Chester added. "The availability ...
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