Banking Royal Commission

Superannuation

Get general advice out of super say survey respondents

A new survey has revealed strong support for removing bank-provided “general” advice from the superannuation equation....

Financial planning

Future bright for established planners says white paper

Established and well-respected advice firms have little to fear from the Royal Commission, according to a new white paper from ClearView....

Financial planning

AMP on brink of additional fees for no service breach

AMP Limited acting chief executive, Mike Wilkins has confirmed the firm is facing more fees for no service remediation challenges after discovering new breaches as recent...

Superannuation

Who drove AMP’s super fee cut?

The Royal Commission has heard that the time-table attaching to the AMP superannuation fund boards’ decision to cut MySuper fees by 50 basis points was devised elsewhere ...

Financial planning

Does AMP prove FASEA’s case?

AMP’s chief executive, Michael Wilkins, has told the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry that education has be...

Financial planning

Are APLs really necessary?

With the Royal Commission questioning the role of Approved Product Lists a larger question has arisen about whether self-licensed advisers are achieving better outcomes t...

Financial planning

NAB insists fees for no service a “process issue”

NAB chief executive, Andrew Thorburn, has defended some fees for no service charged by the bank as a “process issue” rather than dishonesty, as he came under fire at the ...

Policy & Regulation

ASIC questioned over governance practices

The Royal Commission has asked ASIC why recent new senior level roles were all filled by internal candidates from a limited pool, amid questions about the regulators’ gov...

Policy & Regulation

Does ASIC intend to regulate itself?

ASIC chair, James Shipton, has come under fire from the Royal Commission, which seemed dissatisfied with how the regulator intended to prove its performance improves goin...

Policy & Regulation

Shipton defends ASIC’s close relationship with bank execs

The frequent contact between ASIC commissioners and the chief executives and boards of the institutions they regulate is purely professional, ASIC’s chair has told the Ro...

Financial planning

CommBank backs brokers best interests duty

The Commonwealth Bank chief executive, Matt Comyn has agreed that mortgage brokers should be subject to the same sort of client best interests duty as financial planners....

Policy & Regulation

RC probes causes of misconduct

The Royal Commission will today begin its final round of hearings looking at what caused the misconduct and what can be done to fix those causes....

Expert Analysis

Lessons in culture, leadership, and accountability from the banking royal commission

As a year dominated by the Royal Commission draws to a close, Jenny Johanson looks at what the industry needs to do to rebuild trust, improve governance, and bounce back ...

Life/Risk

Freedom’s woes continue with CEO, board resignations

Within two months of the Banking Royal Commission’s insurance hearings decimating Freedom Insurance, its chief executive, Craig Orton, has announced he will step down for...

Funds management

RC should act against platform shelf-space fees

Major fund manager, Platinum Asset Management has called on the Royal Commission to further scrutinise platform shelf-space fees and problematic relationships between pla...