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Regulatory

Third SMSF auditor banned

DARREN SNYDER  |  THURSDAY, 3 DEC 2015
The Australian Securities and Investments Commission (ASIC) has continued its crackdown on self-managed superannuation fund (SMSF) auditors, disqualifying a third person in as many days.

Hedge funds under cost pressure from brokers

MARK SMITH  |  WEDNESDAY, 2 DEC 2015
Hedge funds are facing higher trading costs and changes to business relationships that are hurting margins in the wake of new regulations on banks and prime brokers, a new global survey of the industry by EY reveals.

Governance bill loses Senators' support

DARREN SNYDER  |  WEDNESDAY, 2 DEC 2015
Industry Super Australia (ISA) and the Australian Institute of Superannuation Trustees (AIST) have shown their weight in Canberra by convincing four crossbench Senators to vote down the superannuation trustee governance bill in parliament.

Retail super members gouged by $7.1bn: ISA

DARREN SNYDER  |  TUESDAY, 1 DEC 2015
Industry Super Australia (ISA) estimates that in the past decade bank-owned super fund members have been gouged by about $7.1 billion for above market fees to in-house suppliers.

HNW advice group faces licence conditions

LAURA MILLAN  |  TUESDAY, 1 DEC 2015
A financial planning dealer group focusing on high net worth investors is facing having conditions placed on its licence by ASIC following serious breach incidents.

SMSF auditor disqualified

MARK SMITH  |  MONDAY, 30 NOV 2015
ASIC has disqualified an SMSF auditor for providing untruthful statements that were deliberately misleading.

Super fund governance bill enters final debate

DARREN SNYDER  |  MONDAY, 30 NOV 2015
The Senate is slated to have its final debate on the superannuation trustee governance bill tomorrow, which at a minimum will see one third independent directors on APRA-regulated super fund boards.

APRA appoints deputy chair

ALEX BURKE  |  FRIDAY, 27 NOV 2015
APRA has appointed a new deputy chair.

Senate to investigate white-collar crime

LAURA MILLAN  |  THURSDAY, 26 NOV 2015
The Senate will start an inquiry into penalties for white-collar crime, following calls from regulators and Financial System Inquiry chair David Murray to strengthen the system.

CBA refunds $80m for failing to apply discounts

LAURA MILLAN  |  WEDNESDAY, 25 NOV 2015
Commonwealth Bank (CBA) will refund about $80 million to around 216,000 Wealth Package customers as a compensation for failing to apply fee waivers, interest concessions and other benefits since 2008.