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Showing 1 - 10 of 21 results for "Royal Assent"

First advice reform bill passes parliament

KARREN VERGARA  |  FRIDAY, 5 JUL 2024
... risk-based approaches to assessing advice fee deductions remain appropriate." The bill is expected to receive the Royal Assent between seven and 10 business days.

New NALE rules, AFCA's super powers passed

KARREN VERGARA  |  THURSDAY, 27 JUN 2024
... consideration "must begin and end, however, with the statutory text." The new law will take effect on the day after Royal Assent. This means that if a superannuation-related complaint had purportedly been made to AFCA prior to commencement of the new ...

ASIC issues experienced pathway guidance

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
... declarations since 21 September 2023, which is the day after Treasury Laws Amendment (2023 Measures No. 3) Act 2023 received Royal Assent. To access the pathway, advisers must make a written self-declaration to their licensee to confirm they meet the ...

Conference to address major SMSF issues

KARREN VERGARA  |  TUESDAY, 13 FEB 2024
... non-arm's length expenses (NALE) and non-arm's length income (NALI) of small APRA funds and SMSFs that is awaiting Royal Assent - have received plenty of airplay. NALE in particular, Heffron said, is raising concerns in the SMSF sector as there ...

ASIC confirms adviser registration deadline

KARREN VERGARA  |  WEDNESDAY, 29 NOV 2023
After receiving Royal Assent on November 27, ASIC is urging all financial advisers who service retail clients to register before the 1 February 2024 final deadline. From this date, advisers otherwise known as relevant providers who provide personal ...

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... first introduced. The Financial Accountability Regime Bill 2023 will apply to the banking industry six months after Royal Assent. For the insurance and superannuation industries, it will apply 18 months after Royal Assent. A key objective of the law ...

Regulators begin FAR consultation

CHLOE WALKER  |  THURSDAY, 20 JUL 2023
... financial institutions. It is intended the FAR will become effective for ADIs six months after the legislation received Royal Assent, while insurance and superannuation entities will have 18 months to prepare. The documents released by APRA and ASIC ...

APRA urges entities to strengthen risk management

CASSANDRA BALDINI  |  FRIDAY, 25 NOV 2022
... starting," he explained. The FAR is due to commence for authorised deposit-taking institutions (ADIs) six months after Royal Assent and for insurance and superannuation 18 months. "But with the legislation yet to pass the Senate, it's not clear when ...

Regulators warn trustees of super advice fee obligations

KARREN VERGARA  |  THURSDAY, 1 JUL 2021
... processes and systems in place to meet the new regulation. On 2 March 2021, the Advice Fees and Independence Act received Royal Assent, limiting the advice fee deductions from superannuation accounts as recommended by the Hayne Royal Commission. Recommendation ...

SG amnesty bill finally passes

HARRISON WORLEY  |  TUESDAY, 25 FEB 2020
... normal range of penalties for super underpayment. The amnesty will expire six months after the day the bill receives Royal Assent, with assistant minister for superannuation, financial services and financial technology Senator Jane Hume confident more ...
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