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Showing 1 - 10 of 87 results for "Hayne Royal Commission"

CFS adopts advice consent solution

KARREN VERGARA  |  THURSDAY, 14 OCT 2021
... their clients," he said. The annual renewal obligation came into effect on July 1, as recommended by the Hayne Royal Commission. A client who does not renew an ongoing fee arrangement with their adviser for example, will terminate the arrangement 30 ...

Adviser exam cost jumps under new bill

KARREN VERGARA  |  THURSDAY, 30 SEP 2021
... advice exam, including substantially increasing the cost of each sitting. The Financial Sector Reform (Hayne Royal Commission Response-Better Advice) Bill 2021 exposure draft regulations released yesterday will see advisers sitting the soon-to-be ASIC ...

ASIC urged to act on common ownership

KARREN VERGARA  |  FRIDAY, 10 SEP 2021
... very few actually hand all of their voting powers to a single entity," she said. MP Andrew Leigh said the Hayne Royal Commission criticised ASIC for being slow to act on emerging issues. "I worry that on common ownership, [ASIC] is making the same mistake," ...

Former Macquarie chief to head ASIC, APRA regulator

ANNABELLE DICKSON  |  FRIDAY, 10 SEP 2021
... Lynch (Australia). The government established the FRAA in response to recommendations 6.13 and 6.14 of the Hayne Royal Commission. Recommendation 6.13 is to subject APRA and ASIC to a capability review every four years while 6.14 is to establish a new ...

ASIC to ease hardline stance

KARREN VERGARA  |  FRIDAY, 27 AUG 2021
The federal government is expecting ASIC to tone down its regulatory powers even though the Hayne Royal Commission exposed its ineffectiveness at enforcing corporate law. Federal treasurer Josh Frydenberg overnight released a new set of expectations ...

AMP flags recovery, profit jumps

KARREN VERGARA  |  THURSDAY, 12 AUG 2021
... performances from AMP Bank and its stakes in Resolution Life and the China Pension Life Company. In the pre-Hayne Royal Commission days, AMP boasted a 2017 half-year NPAT of $533 million, while its share price traded over $5. AMP shares closed at $1.08 ...

Asendium partners with regtech

KARREN VERGARA  |  MONDAY, 9 AUG 2021
... consumers." Fourth Line was established in 2019 in conjunction with law firm Mills Oakley in response to the Hayne Royal Commission. It currently works with licensees such as Interprac, GPS Wealth and Wealth Today. Fourth Line chief executive David Travers ...

Single disciplinary body consultation opens

KARREN VERGARA  |  FRIDAY, 6 AUG 2021
... come into force on 1 January 2022, subject to the passage of legislation. The Financial Sector Reform (Hayne Royal Commission Response - Better Advice) Bill 2021 (Better Advice Bill) was introduced in parliament on June 24. It passed the House of Representatives ...

Investors lose in viral stock picks

ELIZABETH MCARTHUR  |  THURSDAY, 5 AUG 2021
... 2023, while quality advice becomes too expensive for many in the wake of new restrictions imposed after the Hayne Royal Commission." He added that because of this shift, more money than ever seems to be invested by unadvised and inexperienced individ ...

RI Advice failed oversight obligations: Court

KARREN VERGARA  |  MONDAY, 2 AUG 2021
... by ANZ Banking Group. RI Advice is now owned by IOOF Holdings. The case was under the spotlight at the Hayne Royal Commission. ASIC commenced proceedings against RI Advice and Doyle in October 2019, seeking declarations of contravention, compliance orders ...
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