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Showing 1 - 10 of 100+ results for "Royal Commission"

Advice practices set to benefit from tax cuts

KARREN VERGARA  |  WEDNESDAY, 12 MAY 2021
... is still significant regulatory change this year with the finalisation of FASEA deadlines, implementation of Royal Commission recommendations, changes to the super system, as well as dealing with the current pandemic and outcomes of the economic environment ...

Aged care expenditure to jump 37%

ALEX DUNNIN  |  TUESDAY, 11 MAY 2021
The aged care sector is set for a major boost to address problems raised in the Royal Commission and prepare for the coming wave of aging retirees. Aged care expenditure will increase 7% during 2021-22 to $24.3 billion and by 37% over the next four ...

APRA approves MLC super takeover

ELIZABETH MCARTHUR  |  FRIDAY, 7 MAY 2021
... the regulator found concerns it was not always considering members' best interests as the highest priority. The Royal Commission formed the view that NULIS' decisions in regard to moving certain groups of members into MySuper products, grandfathering ...

Suncorp divests super unit to industry fund

KARREN VERGARA  |  WEDNESDAY, 28 APR 2021
... institutions abandoning life insurance and superannuation. Suncorp Portfolio Services landed in hot water at the banking Royal Commission for a number of issues that included withholding tax benefits from members, not being transparent about intra-company ...

Advisers to go forth with claims handling

ANNABELLE DICKSON  |  MONDAY, 26 APR 2021
... claims handling, following a submission outlining issues. The government passed Financial Sector Reform (Hayne Royal Commission Response) Act 2020 in December 2020 and required AFSLs to include an authorisation to assist with insurance claims. However ...

Mercer launches aged care support service

KARREN VERGARA  |  MONDAY, 26 APR 2021
... "Australia needs to be innovative in how it supports people as our society rapidly ages," Burkitt said. The recent Royal Commission in the aged care system handed down a whopping 148 recommendations after uncovering systemic problems in the system that ...

Adviser numbers at five-year low

KARREN VERGARA  |  FRIDAY, 23 APR 2021
The financial adviser population has reverted to the pre-financial services Royal Commission days, ending at 20,667 in the first quarter of 2021. Rainmaker analysis of ASIC's Financial Adviser Register found that the total number of financial advisers ...

ASIC opens breach reporting consultation

ANNABELLE DICKSON  |  THURSDAY, 22 APR 2021
... draft guidance is based on reforms made to the breach reporting regime under the F inancial Sector Reform (Hayne Royal Commission Response) Act 2020 and expand and clarifies the types of situations that must be reported to ASIC. The reforms, which are ...

Government merges advice reviews

KARREN VERGARA  |  WEDNESDAY, 21 APR 2021
... work and save time for stakeholders by eliminating consultation times and submissions. In early 2019, the Hayne Royal Commission recommended a review into the quality of advice in three years' time that should be conducted by ASIC. The review should ...

Former Aon Hewitt adviser banned

ELIZABETH MCARTHUR  |  TUESDAY, 20 APR 2021
... representatives failed to comply with the Stronger Super reforms. This instance was cited as a case study in the Royal Commission. Under the reforms, a member's accrued default amounts of super were to be transferred to a MySuper option by 1 July 2017 ...
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