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Showing 1 - 10 of 298 results for %22Hayne Royal Commission%22

AMP executive pay packet shrinks amid simplification

KARREN VERGARA  |  MONDAY, 15 APR 2024
... against peers. This is amidst AMP's aggressive simplification program which has been in play since the Hayne Royal Commission and led to the divestment of several business units, including AMP Capital and SuperConcepts. "For executives, as part of ...

Industry funds set to gobble up over 50% of superannuation assets

ANDREW MCKEAN  |  THURSDAY, 21 MAR 2024
... Retail funds will also grow, but at a slower rate reflecting the gradual remediation of issues raised by the Hayne Royal Commission. SMSFs will remain popular, but their growth is expected to be less strong for pre-retirement assets. Meanwhile, industry ...

Advice PDMs, BDMs at inflection point: Survey

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... business development managers (BDM) by Business Health looked at how these roles have evolved since the Hayne Royal Commission. Business ready IV found that the roles of PDMs and BDMs, while costly in terms of salaries, can add enormous value to a practice ...

Super funds in pole position for expanded advice

KARREN VERGARA  |  MONDAY, 26 FEB 2024
... advisers will end up as proxy salespeople driven by commissions - the type of behaviour exposed by the Hayne Royal Commission. Abood, however, doesn't see history repeating itself. "I think the super funds are also very well aware of the reputational ...

AMP chair steps down

KARREN VERGARA  |  WEDNESDAY, 14 FEB 2024
... AMP board as non-executive director on 15 June 2019 at the height of AMP's tumult in the wake of the Hayne Royal Commission. She took over as chair in August 2020. She replaced Catherine Brenner who left in the hope that investors could regain confidence ...

Advisers urged to check ASIC registration status

JAMIE WILLIAMSON  |  THURSDAY, 18 JAN 2024
... close to 6000 financial advisers who are still not registered with ASIC. Under the Financial Sector Reform (Hayne Royal Commission Response - Better Advice) Act 2021, all relevant providers must be registered with ASIC to provide personal financial advice ...

Adviser numbers stable at 15,650

KARREN VERGARA  |  MONDAY, 15 JAN 2024
... there were as many as 20,667 advisers. The population peaked at nearly 30,000 at the end of 2018 as the Hayne Royal Commission was finalising its verdict. The Financial Advice Association Australia (FAAA) remains concerned with the stagnant number of ...

AMP shareholder class action settlement slashed

KARREN VERGARA  |  MONDAY, 9 OCT 2023
... class action, which combined several lawsuits following revelations of the firm's misconduct during the Hayne Royal Commission, alleged that AMP failed to disclose critical market information that could have affected the share price. This included charging ...

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... penalty on accountable entities," Jones said. BEAR, the FAR's first iteration, was recommended by Commissioner Kenneth Hayne in a bid to regulate senior leaders of super funds, banks, insurers, and other APRA-regulated entities at the culmination ...

AMP settles class action for $110m

KARREN VERGARA  |  MONDAY, 21 AUG 2023
... NSW Supreme Court ordered the litany of class actions levelled against AMP to merge into one after the Hayne Royal Commission exposed scathing revelations that included among other issues, charging fees for no services under various contexts. The class ...
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