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Regulatory

What the QAR should focus on: MLC Life

CASSANDRA BALDINI  |  TUESDAY, 9 AUG 2022
MLC Life Insurance has said the Quality of Advice Review (QAR) should focus on how to ensure Australians can access financial advice, regardless of their wealth.

ASIC announces sizeable prosecution list

CASSANDRA BALDINI  |  MONDAY, 8 AUG 2022
ASIC has prosecuted 10 companies for failing to comply with obligations to lodge financial reports.

Government strengthens multinationals tax laws

CASSANDRA BALDINI  |  MONDAY, 8 AUG 2022
The Labor government is cracking down on multinational enterprises (MNEs) avoiding tax and transparency.

APRA releases annual corporate plan

CASSANDRA BALDINI  |  MONDAY, 8 AUG 2022
APRA published its updated plan to reinforce the financial soundness of the banking, insurance and superannuation industries over the next four years, with few surprises on offer.

Super fund climate risk assessment results released

RACHEL ALEMBAKIS  |  FRIDAY, 5 AUG 2022
Almost 40% of banks, insurers and superannuation funds say climate-related events could have a "material or moderate impact on their direct operations", according to APRA.

Initial review of RIC strategies underway

JAMIE WILLIAMSON  |  THURSDAY, 4 AUG 2022
APRA and ASIC have already begun reviewing superannuation funds' retirement income strategies, with a view to publishing its findings later this year.

Contact AFCA now: ASIC urges Dixon Advisory clients

JAMIE WILLIAMSON  |  THURSDAY, 4 AUG 2022
Former clients of Dixon Advisory and Superannuation Services have been told to get in quick with their complaints to the Australian Financial Complaints Authority to ensure they're eligible for compensation.

Adviser banned over early release scheme

JAMIE WILLIAMSON  |  WEDNESDAY, 3 AUG 2022
An Adelaide financial adviser received a five-year ban for advising his clients to roll their super into newly established SMSFs to invest in a company he is a director of and then releasing the money to them in the form of a loan.

FSC guidance looks to eliminate greenwashing

ANDREW MCKEAN  |  WEDNESDAY, 3 AUG 2022
The Financial Services Council (FSC) has released guidance setting industry expectations for net zero targets, the labelling of investment products and transparency of climate risk disclosures.

ASIC continues crack down on deceptive advertising

CHLOE WALKER  |  TUESDAY, 2 AUG 2022
The corporate regulator has issued stop orders against a commercial property investment firm for misrepresenting the performance risks of one of its funds, including marketing it as 'Covid proof'.