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Search ResultsShowing 1 - 10 of 100+ results for "Royal Commission"
CBA in court for overcharging interest
ELIZABETH MCARTHUR  |  TUESDAY, 1 DEC 2020
... against the Commonwealth Bank (CBA) for overcharged interest to thousands of customers, as revealed during the Royal Commission. In the Federal Court, ASIC will allege that CBA charged a rate of interest on business overdraft accounts substantially higher ...
ASIC prepares industry for claims handling law
KARREN VERGARA  |  FRIDAY, 27 NOV 2020
... paper C12 Proof: Claims Handling and Settling Service Statement builds on the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020. The new law, which was introduced in parliament on November 12, will force those providing claims handling ...
Finance is least ethical sector: Governance Institute
ANNABELLE DICKSON  |  FRIDAY, 27 NOV 2020
... "Our survey shows that the perception of the finance industry in Australia is still recovering from the banking royal commission and other scandals, and the media is suffering the same crisis of legitimacy here as overseas," she said. The education industry ...
Which longevity product yields the highest income?
KANIKA SOOD  |  FRIDAY, 20 NOV 2020
... costs...If changes are made to encourage greater personal provision for aged care costs following the Aged Care Royal Commission, long-term care insurance may make aged care costs more affordable for people and give them the confidence to draw down their ...
Give the people advisers: Retirement Income Review
ELIZABETH MCARTHUR  |  FRIDAY, 20 NOV 2020
... acknowledged that affordable financial advice is what people need to navigate the retirement system. After the Royal Commission exposed deep flaws in Australia's financial advice sector the industry has faced a crackdown from regulators, but now ...
Treasury expected to release retirement review
KANIKA SOOD  |  THURSDAY, 19 NOV 2020
... chair Deborah Ralston produced the 600-page report. Their job was not to make any recommendations (akin to the Royal Commission or Productivity Commission's final reports) but set the facts on four areas: how the retirement income system supports ...
Financial adviser reference checks under scrutiny
ELIZABETH MCARTHUR  |  THURSDAY, 19 NOV 2020
... brokers. Requiring financial advisers to have reference checks was one of the recommendations to come out of the Royal Commission. During the inquiry it was found licensees were not doing enough to communicate with each other on the background of advisers ...
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 ...
APRA eases hard caps in revamped executive pay
KANIKA SOOD  |  THURSDAY, 12 NOV 2020
... (revised CPS 511). The non-financial measures (like potential detriment to consumers) were a focus at the Banking Royal Commission, which eventually made three recommendations on the subject. What qualifies as "material" is not defined in the report ...
More good news for Xplore
ELIZABETH MCARTHUR  |  WEDNESDAY, 4 NOV 2020
... superannuation entity, managed discretionary accounts and DIY super administration. Wright, who was grilled at the Royal Commission, was appointed by Xplore in August 2019. Prior to Wright's appointment, the company's share price had tumbled and it came ...
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