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Search ResultsShowing 1 - 10 of 100+ results for "Regulation"
ASIC prepares industry for claims handling law
KARREN VERGARA  |  FRIDAY, 27 NOV 2020
The corporate regulator has released more information to help life insurers and financial advisers adapt to new regulation when handling insurance claims. ASIC's information sheet and consultation paper C12 Proof: Claims Handling and Settling Service ...
Life insurance performance plummets
ANNABELLE DICKSON  |  FRIDAY, 27 NOV 2020
... industry has continued to take a hit to profit, with risk products reporting significant losses. The Australian Prudential Regulation Authority's (APRA) latest quarterly life insurance performance statistics paint a bleak picture with net profit after ...
Your Future, Your Super reforms closer to legislation
KARREN VERGARA  |  FRIDAY, 27 NOV 2020
... trustees to be more accountable to how member money is used to operate on a day-to-day basis and how it is invested. The regulation aims to curb "inappropriate expenditure" on items like advertising, sponsorships and corporate entertainment, which "risks ...
Advice for all could add $630bn to economy
JAMIE WILLIAMSON  |  WEDNESDAY, 25 NOV 2020
... consumer and SME expectations don't align with reality; they expect to see one professional for all types of advice, but regulation doesn't allow for this. It also found people don't feel they need advice as they feel they're capable of looking after ...
Underinsurance gap worsens: Research
KARREN VERGARA  |  FRIDAY, 20 NOV 2020
... broadened compared to three years ago, new Rice Warner research finds. Over the last 18 months, a slew of government regulation as well as unforeseen circumstances have contributed to more Australians being underinsured. This includes the Insurance in ...
APRA reduces CBA capital requirement
ANNABELLE DICKSON  |  FRIDAY, 20 NOV 2020
The Australian Prudential Regulation Authority (APRA) has made the decision to reduce Commonwealth Bank's additional capital requirement by half after improving governance concerns. The $1 billion capital add-on has been halved to $500 million with ...
Advice firms need technology to survive: FPA
ANNABELLE DICKSON  |  MONDAY, 16 NOV 2020
... growing burden of administration and compliance and the rising cost of doing business," De Gori said. "Streamlining regulation is essential, so too is effective use of technology, if we are to have a sustainable profession and give greater access to ...
RC recommendations closer to legislation
KARREN VERGARA  |  FRIDAY, 13 NOV 2020
A slew of regulation recommended by the Hayne Royal Commission to tighten the reigns in the superannuation industry will come into force with the introduction of a new bill. Introduced in Parliament on November 12, the Financial Sector Reform (Hayne ...
Asset managers want action on modern-day slavery
KARREN VERGARA  |  THURSDAY, 12 NOV 2020
... exploitation as something that goes beyond ethics. Business models and value chains that rely on underpaid workers, weak regulation or illegal activities such as forced labour and other forms of modern slavery drive unsustainable earnings. Companies ...
Audit inquiry overlooks vertical integration
KARREN VERGARA  |  THURSDAY, 12 NOV 2020
... the breakup of the largest four vertically integrated accounting firms in a bid to combat conflicts of interest. The Regulation of Auditing in Australia: Final Report, tabled in Parliament on November 11, made 10 recommendations on how the quality of ...
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