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Showing 1 - 10 of 30 results for "Hawking"

ASIC to watch member shunting to untested super products

KANIKA SOOD  |  THURSDAY, 2 SEP 2021
... helpful in this respect," she said. "So, I mentioned design and distribution obligations but we've also got new anti-hawking laws coming into force. And as well there was some recent law about...where the boundaries of providing general advice is. ...

ASIC outlines approach to reforms amid uncertainty

JAMIE WILLIAMSON  |  FRIDAY, 13 AUG 2021
... obligations. From October 5, the industry must also comply with the new design and distribution obligations, new restrictions on hawking, the deferred sales model for add-on insurance, and updated internal dispute resolution requirements. Outlining the ...

ASIC consults on anti-hawking rules

KANIKA SOOD  |  THURSDAY, 22 JUL 2021
The corporate regulator has opened consultation for the proposed ban to hawking of financial products. Anti-hawking reforms are slated for an October 5 start. They are a part of the government's response to the Hayne Royal Commission, which said hawking ...

Rice Warner weighs in on Your Future, Your Super

KARREN VERGARA  |  THURSDAY, 14 JAN 2021
... likely position themselves favourably to these potential members but will need to be careful they don't breach anti-hawking legislation. Rice Warner suggested trustees be exempt from such regulation given that the performance test will weed out underperformers ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... Royal Commission Response) Bill 2020 addresses 20 recommendations from the 2018 inquiry. The new law will prevent the hawking of all financial products - insurance products, superannuation, shares and other managed investment schemes - via an unsolicited ...

Former AFSL director banned

ELIZA BAVIN  |  TUESDAY, 5 MAY 2020
... also engaged in misleading or deceptive conduct and made false or misleading statements. ASIC said it also contravened hawking prohibitions by making unsolicited calls to potential clients and failed to take reasonable steps to ensure its representatives ...

Industry bodies work to ease regulatory burdens

ELIZABETH MCARTHUR  |  FRIDAY, 3 APR 2020
... some tight rules around it. It'll be restricted to this particular package and there's likely to be rules around anti-hawking for starters," Marshan said. SMSF Association policy manager Franco Morelli said the provision of strategic advice is something ...

Super scammers pose as authorities

HARRISON WORLEY  |  FRIDAY, 27 MAR 2020
... for his AFSL number. "He literally could not repeat back AFSL to me," Craggs said. "I said do you understand the anti-hawking provisions? Nothing. And I went, 'Mate what you're doing is illegal. You're not allowed to do this'. "Forget about legalities ...

Frydenberg takes RC super advice

HARRISON WORLEY  |  FRIDAY, 31 JAN 2020
... which the government is also acting on through this round of new legislation. Additionally, the government will ban the hawking of super products, formally adjust APRA and ASIC's roles in relation to superannuation, and provide ASIC with joint responsibility ...

ASIC bans direct life cold calling

HARRISON WORLEY  |  WEDNESDAY, 4 DEC 2019
... outcomes. The regulator noted its action follows through on recommendation 4.1 of the Royal Commission final report to ban the hawking of life insurance products. "ASIC will intervene to stop practices that lead to poor consumer outcomes and destroy ...
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