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Regulatory

Industry receives FoFA bill with mixed feelings

LAURA MILLAN  |  THURSDAY, 20 MAR 2014
The financial services industry and the advice community have has mixed reaction to the bill introducing changes to the Future of Financial Advice (FoFA) with mixed reactions.

Cormann to take over Sinodinos' duties

LAURA MILLAN  |  THURSDAY, 20 MAR 2014
Former Assistant Treasurer Arthur Sinodinos' portfolio will now fall under the Ministry of Finance, headed by Mathias Cormann.

Labor hopes to disallow FoFA amendments

JAMES FERNYHOUGH  |  THURSDAY, 20 MAR 2014
The amendments to the Future of Financial Advice (FoFA) reforms may yet be blocked by the Senate, even though they will initially be pushed through as regulations rather than legislation, according to opposition spokesperson for superannuation and financial ...

FoFA introduced into parliament with some tweaks

ALICE URIBE  |  WEDNESDAY, 19 MAR 2014
As expected the bill to amend the Future of Financial Advice (FoFA) reforms was introduced to parliament today.

Assistant Treasurer Sinodinos to stand aside amid ICAC inquiry

ALICE URIBE  |  WEDNESDAY, 19 MAR 2014
Assistant Treasurer Arthur Sinodinos has announced that he will stand down from the front bench during the hearings of Independent Commission Against Corruption (ICAC) inquiry into Australia Water Holdings (AWH).

FoFA changes to be tabled today

JAMES FERNYHOUGH  |  WEDNESDAY, 19 MAR 2014
The government's amendments to the Future of Financial Advice (FoFA) are due to be tabled in federal parliament today.

Senate pushes for Sinodinos to explain corruption allegations

ALICE URIBE  |  WEDNESDAY, 19 MAR 2014
The Federal Opposition is putting pressure on Assistant Treasurer Arthur Sinodinos to make a full statement to the Senate about his involvement with Australia Water Holdings (AWH) which is at the centre of an Independent Commission Against Corruption ...

APRA gets Basel III tick

JAMES FERNYHOUGH  |  WEDNESDAY, 19 MAR 2014
The Basel Committee on Banking Supervision has graded Australia's capital regulation framework as 'Compliant' with the Basel III standards.

FoFA changes no threat to best interest duty: lawyer

JAMES FERNYHOUGH  |  WEDNESDAY, 19 MAR 2014
The Financial Services Council (FSC) has obtained legal advice arguing that the proposed amendments to the Future of Financial Advice (FoFA) reforms will not compromise the best interests duties of advisers to their clients.

Calls for Sinodinos to "step aside" amid ICAC allegations

LAURA MILLAN  |  TUESDAY, 18 MAR 2014
A Labor MP has called for Assistant Treasurer Senator Arthur Sinodinos to step aside during the Independent Commission Against Corruption (ICAC) inquiry into his involvement with the Eddie Obeid-linked Australian Water Holdings (AWH).