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Showing 1 - 10 of 18 results for "Legislative Instruments"

ASIC intends to extend legislative instruments

MATTHEW WAI  |  FRIDAY, 9 AUG 2024
ASIC is set to extend three legislative instruments for five years, one of which relates to record keeping for financial advisers. The instruments are: Class Order [CO 14/923] Record-keeping obligations for Australian financial services licensees when ...

New life insurance regulations rolled out

ANDREW MCKEAN  |  WEDNESDAY, 21 FEB 2024
... redundant provisions and making drafting improvements. The Legislation Act 2003 governs the sunset of legislative instruments, but the sunsetting date for the 1995 Regulations was deferred to October 2024 to allow for a comprehensive review. An exposure ...

Adviser levy discount amounts to $8m saving

KARREN VERGARA  |  FRIDAY, 10 NOV 2023
... total, according to new estimates from the Financial Advice Association Australia (FAAA). Based on two legislative instruments dated November 3, licensees will likely pay $2818 per adviser. "When ASIC published their estimates for the 2022-23 year, in ...

Throw out financial services law clutter: ALRC

ANDREW MCKEAN  |  WEDNESDAY, 5 OCT 2022
... across numerous locations, and are often expressed in tediously intricate ways. For example, hundreds of legislative instruments create bespoke laws for certain entities by 'notionally amending' the Corporations Act." "The resulting labyrinth - and the ...

ASIC releases guidance on super, retirement calculators

ANDREW MCKEAN  |  TUESDAY, 5 JUL 2022
... by a super trustee. To rely on ASIC's relief, providers must comply with the conditions set out in the legislative instruments.

Clear up uncertainty: AFA, FPA

JAMIE WILLIAMSON  |  FRIDAY, 17 JUN 2022
... also be limits applied to ASIC's ability to "mandate obligations that go above the law through either legislative instruments or regulatory guidance", it said. "If work is done to address the issue with regulatory uncertainty, we would not like this ...

ASIC consults on refreshing PDSs, FSGs

KARREN VERGARA  |  FRIDAY, 18 FEB 2022
... automatically repeal or cease in the next two years if not remade, ASIC said. "Under the Legislation Act 2003, legislative instruments are repealed automatically, or 'sunset' after a period of time unless action is taken to remake them. Some ...

Labor won't support YFYS Bill in current form

KANIKA SOOD  |  FRIDAY, 30 APR 2021
... concerns about the Bill as a whole. "It should be noted that this bill delegates significant power to legislative instruments. As the government has only released partial draft regulations for this bill on the day [28 April] before this report is due ...

ASIC releases fee consent instrument

ELIZABETH MCARTHUR  |  THURSDAY, 25 MAR 2021
ASIC has released three legislative instruments to regulate advice fee consents and lack of independence disclosures, as part of the government's response to the Royal Commission. The first of the three sets the requirements that written consent from ...

Financial services laws under review

JAMIE WILLIAMSON  |  TUESDAY, 15 SEP 2020
... provisions of the Corporations Act 2001 (Cth) and the Corporations Regulations 2001 (Cth), among other legislative instruments. There are three key focuses of the review, each of which will be covered in an individual interim report. The first will focus ...
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