government

Policy & Regulation

Gov strengthens whistleblower protections, remedies

Continuing Canberra’s moves against corporate misconduct and crime, Parliament yesterday passed legislation strengthening corporate and tax whistleblower protections....

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....

Superannuation

Superannuation could bolster agriculture industry

While Australia’s agriculture business is a major economic contributor, there’s a lack of superannuation investment in the sector. ...

Financial planning

Will Govt’s post-retirement fact sheets erode advice?

The Federal Government has initiated a consultation period around a new policy paper which would see consumers approaching retirement provided with standard fact sheets c...

Financial planning

Tax Board to review granny flat arrangements

The Government has requested the Board of Taxation review the tax treatment of granny flat arrangements. ...

Gov puts confidence behind APRA chair

The Morrison Government has reappointed Australian Prudential Regulation Authority (APRA) chair, Wayne Byres, for five more years....

Policy & Regulation

ASIC warning to AFCA laggards

The Australian Securities and Investments Commission has issued a warning as credit representatives appear to be lagging on their obligations to join the Australian Finan...

Financial planning

Advice carve-outs undermine RC findings, says ISA

Industry Super Australia has accused the Government of caving into the retail banks and the wealth management sector in allowing ‘carve-outs’ from the design and distribu...

Financial planning

VOFF letter added to Coalition’s woes

Victims of Financial Fraud has written to Treasurer Josh Frydenberg to remind him how vehemently the party objected to holding a Banking Royal Commission. ...

Policy & Regulation

Frydenberg urges tougher ASIC approach

The Federal Treasurer has reinforced that he wants the Australian Securities and Investments Commission to take a tougher approach in pursuing litigation rather than nego...

Policy & Regulation

Govt moves to double financial services penalties

The Federal Government is moving to introduce legislation which will have the effect of doubling the criminal and civil penalties which can be imposed against both corpor...

Policy & Regulation

ASIC wants product sales training powers

The Australian Securities and Investments Commission is arguing that giving it product sales training intervention powers may reduce the need for it to take extreme actio...

Financial planning

FPA suggests risk rating financial products

The Financial Planning Association has suggested risk rating financial products to better target consumer protections....

Policy & Regulation

Licensees, not planners face RC-imposed changes

Financial services licensees rather than individual planners are facing the most change likely to result from the preliminary findings of the Royal Commission into Miscon...

Life/Risk

Disclosure docs don’t help people choose better insurance

New research has found that government-mandated insurance disclosure doesn’t help people make better purchasing decisions when it comes to insurance....