Banking Royal Commission

Superannuation

For all the fuss about scale in the super industry, new data has shown that members in some of the top funds’ MySuper options saw limited differences in returns regardles...

Policy & Regulation

Choice wants voice on RC rectification taskforce

Consumer group Choice wants the Federal Government to fund a Royal Commission rectification taskforce and, furthermore, it wants recognition as a key stakeholder in imple...

Policy & Regulation

Structured remediation models needed

The banks should offer customers independent advice on remediation or risk both a “relentless flow” of class actions and a widening trust deficit....

Policy & Regulation

Mortgage Choice weathers RC storm

Mortgage Choice has taken its predicted profit hit amid the slowing property market and the uncertainties created by the Royal Commission....

Financial planning

FASEA Ethics Code could’ve prevented RC misconduct

Following the FASEA Code of Ethics could prevent misconduct of the type uncovered by the Banking Royal Commission even though they aren’t subject to legal penalties, acco...

Policy & Regulation

Royal Commission transgressors face stiffer penalties

The Australian Securities and Investments Commission has been handed tougher penalties with which to pursue people referred to it by the Royal Commission....

Financial planning

Unity and industry participation key post-RC

The advice industry can rally from the Royal Commission’s fall-out by uniting around positive stories, according to a Dow Jones executive who saw the US industry undergo ...

Policy & Regulation

APRA thinks financial institutions got nailed by RC

The Australian Prudential Regulation Authority believes the Royal Commission placed responsibility for misconduct on the major financial institutions and those who ran th...

Financial planning

Grandfathering to end

The Federal Government has committed to a timetable to ending grandfathering and to entertaining life/risk commissions being further reduced....

Financial planning

Will planning execs face prosecution?

The question at the forefront of many minds in the financial planning industry is whether any individual executives will face prosecution as a result of key decisions on ...

Financial planning

Due diligence vital in new buyer’s market

Both the Royal Commission final report and FASEA’s reforms could intensify changes already underway to how financial planning businesses are bought and sold....

Policy & Regulation

Regulators signalled to use the powers they’ve got

The Federal Treasurer, Josh Frydenberg has sent a clear signal to the financial services regulators that he supports the view that they don’t need more powers and should ...

Policy & Regulation

Royal Commission hits financial services employment

New research from Sunsuper has revealed the degree to which the Royal Commission into Banking, Superannuation and Financial Services has hit employment in financial servi...

Life/Risk

Cessation of direct life/risk sales hits bottom lines

New data has revealed just how significantly the cessation of direct life/risk sales has hit life insurers’ bottom lines and how much more reliant they have become on adv...