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Showing 1 - 10 of 20 results for "Senate vote"

Proxy advice reforms defeated

RACHEL ALEMBAKIS  |  FRIDAY, 11 FEB 2022
The Senate has overturned proxy advice reforms announced at the end of last year, three days after the new regime had begun. On a vote of 29 votes to 25, the Senate disallowed the new regulations that were announced by Treasurer Josh Frydenberg in December ...

Banking inquiry becomes Royal Commission alternative

KERRIE SYDEE  |  WEDNESDAY, 30 NOV 2016
The Federal Opposition has established a Senate inquiry to investigate cases of wrongdoing in the banking and financial services industry. The Senate voted 40 to 25 in favour of establishing the inquiry, which will also examine existing legislative ...

US Senate votes down adviser fiduciary rule

ALEX DUNNIN  |  TUESDAY, 31 MAY 2016
The US Senate recently voted down the Department of Labor's administration rule for financial advisers that would have compelled them to act in their clients' best interests. The law was passed 65-41 meaning it fell well short of the two thirds majority ...

Senate to investigate white-collar crime

LAURA MILLAN  |  THURSDAY, 26 NOV 2015
The Senate will start an inquiry into penalties for white-collar crime, following calls from regulators and Financial System Inquiry chair David Murray to strengthen the system. The Senate voted yesterday in favour of a Greens motion to establish the ...

Punitive excess contributions tax removed

MARK SMITH  |  MONDAY, 9 MAR 2015
... was among the first to welcome the result, describing it as an important victory for SMSF members. Slattery said the Senate vote ends a "draconian" system that "severely punished" trustees for infractions that were rarely intentional. "We congratulate ...

Original FoFA laws take immediate effect

JAMES FERNYHOUGH  |  THURSDAY, 20 NOV 2014
Financial advisers must fully comply with Labor's original Future of Financial Advice (FoFA) laws from today, after the Senate voted to disallow the government's amendments last night. The reversion to the original legislation took effect as soon as ...

Government tables FoFA bill in House of Reps

LAURA MILLAN  |  WEDNESDAY, 27 AUG 2014
... planning legislation. The government's move follows the opposition's failed attempt to disallow the proposed changes in a Senate vote. A last minute deal with Palmer United Party (PUP) senators allowed the Coalition to maintain the changes to FoFA, which ...

Senate votes against disallowing FoFA amendments

LAURA MILLAN  |  TUESDAY, 15 JUL 2014
The Labor and Greens attempt to disallow government changes to the Future of Financial Advice (FoFA) legislation failed after the Coalition was able to secure last-minute support from the Palmer United Party (PUP). The motion to disallow the government's ...

Masseurs Tony and Joey

BENJAMIN ONG  |  WEDNESDAY, 14 MAY 2014
Phew! Well that wasn't so bad after all. Yes Virginia, if you didn't fall asleep listening to Treasurer Joe Hockey's budget speech last night - mainly because most of the measures Joey mentioned were already drip-fed to us days in advanced - you'll ...

Grandfathering pushes self-licensing

LAURA MILLAN  |  THURSDAY, 17 OCT 2013
... Last minute changes to the grandfathering provision came in on June 28, 2013, only three days before FoFA started. A Senate vote on July 3 gave the industry 12 more months to prepare for the full implementation of some critical elements of FoFA, including ...
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