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Regulatory

APRA to improve strategic planning, member outcomes rules

JAMIE WILLIAMSON  |  MONDAY, 1 AUG 2022
APRA is revisiting the design of its rules governing strategic planning and member outcomes in superannuation, including strengthening the way in which outcomes are assessed, closer monitoring of financial resources and new rules to follow when a MySuper ...

Financial abuse linked to violence: CBA, UNSW

ANDREW MCKEAN  |  MONDAY, 1 AUG 2022
Commonwealth Bank and the UNSW Generated Violence Research Network (GVRN) partnership commented on findings showing economic and financial abuse is linked to domestic and family violence.

APRA consults on new operational risk standards

JAMIE WILLIAMSON  |  FRIDAY, 29 JUL 2022
APRA is proposing to introduce new minimum standards for super funds in managing operational risk, opening a new consultation.

UK regulator confirms Consumer Duty

JAMIE WILLIAMSON  |  THURSDAY, 28 JUL 2022
The Financial Conduct Authority has outlined how a new Consumer Duty will improve customer service across the UK's financial services sector, including ending "rip-off" fees and putting consumers' needs first.

ASIC issues first DDO stop orders

JAMIE WILLIAMSON  |  THURSDAY, 28 JUL 2022
Flexing its powers for the first time, ASIC has issued stop orders to three companies over deficiencies in their products' target market determinations.

Office for Women combats financial abuse

ANDREW MCKEAN  |  WEDNESDAY, 27 JUL 2022
A new resource released by the Office for Women will assist the financial services sector to understand how its financial products may be used in the financial abuse of women.

Foreign investment fees to double

JAMIE WILLIAMSON  |  FRIDAY, 22 JUL 2022
Foreign investors will pay an additional $455 million in Foreign Investment Review Board fees over the next four years under new regulations.

Consultation on faith-based products opens

JAMIE WILLIAMSON  |  THURSDAY, 21 JUL 2022
Treasury has commenced consultation on adjusting how the Your Future, Your Super performance test is applied to faith-based products, releasing draft legislation.

Fraud charges laid over unlicensed scheme

CASSANDRA BALDINI  |  WEDNESDAY, 20 JUL 2022
Former Perth unlicensed investment scheme boss Chris Marco has been charged with 50 counts of fraud and is due to appear in Perth Magistrates Court on Friday.

Latest AFCA data shows big shifts in complaints

JAMIE WILLIAMSON  |  WEDNESDAY, 20 JUL 2022
In the realm of investments and advice, the number of complaints made to the Australian Financial Complaints Authority over the interpretation of product terms and conditions increased more than six-fold last financial year, while complaints about inappropriate ...