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Regulatory

RG 97 to lift fees 50 bps

ALEX DUNNIN  |  THURSDAY, 16 FEB 2017
Revisions to superannuation and investment product fee estimation methodology as a result of RG 97 is expected to significantly lift average fee metrics, according to an industry survey.

Fintech investment needs balance: APRA

EMMA RAPAPORT  |  WEDNESDAY, 15 FEB 2017
The financial services sector should not be tempted by "shiny new [fintech] toys", and must continue to invest in maintenance of their core technology, says APRA chairman Wayne Byres.

FPA expels and fines dishonest member

EMMA RAPAPORT  |  WEDNESDAY, 15 FEB 2017
The Financial Planning Association Conduct Review Commission Disciplinary Panel has expelled financial adviser Darren Tindall and issued a fine of $16,000.

APRA urges banks to raise capital

EMMA RAPAPORT  |  MONDAY, 13 FEB 2017
Capital standards should be set so that the capital ratios of deposit takers are unquestionably strong, according to ARPA chairman Wayne Byres.

Landmark advice reforms pass Senate

EMMA RAPAPORT  |  FRIDAY, 10 FEB 2017
The wealth management industry was overwhelming in its support of the Senate passing two significant reforms aimed at strengthening consumer confidence in the financial planning and life insurance sectors.

Custodians turn attention to CIVs and MITs

DARREN SNYDER  |  THURSDAY, 9 FEB 2017
The Australian Custodial Services Association will focus its attention around improving the local funds management sector to increase its global competitiveness in 2017.

House passes professional standards bill

EMMA RAPAPORT  |  WEDNESDAY, 8 FEB 2017
Federal laws which will affect the future of the financial planning industry passed the House of Representatives last night.

NAB aiding RG97 compliance

JAMIE WILLIAMSON  |  TUESDAY, 7 FEB 2017
NAB Asset Servicing launched its RG97 Reporting Suite to clients, providing investors and members with heightened transparency on fees and costs.

ASIC targets NAB super after compliance breakdown

ALEX BURKE  |  THURSDAY, 2 FEB 2017
The trustee of Australia's largest retail super fund, the MLC Super Fund, will appoint an independent expert to review compliance breaches following an ASIC investigation.

Bus operator fails to pay super

EMMA RAPAPORT  |  MONDAY, 30 JAN 2017
A Gold Coast tour bus operator accused of failing to pay the superannuation guarantee to two workers from non-English speaking backgrounds will face court over thousands of dollars of alleged underpayments.