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Regulatory

CBA denies majority of latest AUSTRAC allegations

KARREN VERGARA  |  FRIDAY, 23 FEB 2018
CBA said it denies most of the additional 100 anti-money laundering and counter-terrorism financing allegations handed down from AUSTRAC last December.

Former Charter adviser receives permanent ban

JAMIE WILLIAMSON  |  THURSDAY, 22 FEB 2018
A former Charter Financial Planning adviser is permanently banned for dishonestly charging clients more than $65,000 in fees.

Vertically aligned institutions pay $21.4m compensation

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2018
ASIC said clients of the big four banks and AMP who received non-compliant financial advice will be compensated a further $21.4 million.

O'Dwyer names CIPR advisory group

JAMIE WILLIAMSON  |  MONDAY, 19 FEB 2018
A new advisory group comprising some of the superannuation and retirement industry's biggest names will assist the Federal Government in developing a Comprehensive Income Products for Retirement framework.

Best interest duty failures lead to EU

JAMIE WILLIAMSON  |  MONDAY, 19 FEB 2018
The director of a financial services firm is excluded from the industry for five years after failing to comply with best interests obligations when consolidating clients' superannuation.

Credit Suisse under investigation

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2018
Credit Suisse is being questioned over its hiring practices in Asia Pacific.

FASEA accelerates degree equivalency agenda

JAMIE WILLIAMSON  |  THURSDAY, 15 FEB 2018
FASEA chief executive Deen Sanders told the SMSF Association's 2018 National Conference that as part of the new financial adviser education regime a proposed framework for degree equivalence will be released in coming weeks.

O'Dwyer proposes TRIS changes

KARREN VERGARA  |  TUESDAY, 13 FEB 2018
The Federal Government is pushing for reversionary transition to retirement income streams (TRIS) to be paid to an eligible dependent upon a death, regardless if a condition of release is met.

Morrison unveils open banking framework

KARREN VERGARA  |  MONDAY, 12 FEB 2018
The Federal Government's final report into open banking details 50 recommendations on how the new regime can succeed and ultimately empower consumers.

Royal Commission seeks further disclosure over financial misconduct

DARREN SNYDER  |  MONDAY, 12 FEB 2018
Commissioner Kenneth Hayne had to repeatedly ask some of Australia's largest financial services businesses to properly explain the nature, extent and effect of any misconduct over the past five to 10 years.