Kenneth Hayne

Financial planning

How does QAR duration compare to other financial services inquiries?

The ongoing process of the Quality of Advice Review has now taken twice as long as it took for the findings of the Hayne royal commission but it is understood this is "a ...

Financial planning

Kenneth Hayne on the conflict of interest problem in advice

In a rare speech, former High Court justice, the Honourable Kenneth Hayne, has questioned whether advisers can ‘stand in more than one canoe’, when it comes to conflict o...

Editorial

Advisers shine amid COVID-19 but is Frydenberg aware of the glow?

Financial advisers have been the subject of some highly negative publicity over the past decade but their good works have been seen to shine as they help clients navigate...

Policy & Regulation

No loopholes, no carve-outs insist coalition of consumer groups

A coalition of consumer groups has pointed to key changes to advice and life insurance resulting from the Royal Commission and insisted on no loopholes and no carve-outs....

Financial planning

Advisers still better off than mortgage brokers from RC

AFA’s Phil Anderson says that despite pushback on Royal Commission recommendations to change trail commissions for mortgage brokers, advisers were still better prepared f...

Financial planning

ASIC denies knowledge of intra-fund extension

It will be up to the Government to determine whether superannuation funds will be able to use member cross-subsidies to fund intra-fund advice, according to the Australia...

Financial planning

ASIC answer confirms Hayne got it wrong on intra-fund advice

Questioning by a Liberal Senator has seen the Australian Securities and Investments Commission confirm that Royal Commissioner, Kenneth Hayne, got it wrong on intra-fund ...

Financial planning

Grandfathering – ASIC relied on sample-based data

The Australian Securities and Investments Commission has admitted that its earlier pronouncements on ending grandfathered commissions was based on sample-sized data....

Financial planning

Add-on insurance regulation unclear

While the creation of a deferred sales model (DSM) to regulate the sale of add-on insurance was explicitly recommended by Commissioner Kenneth Hayne the industry is being...

Superannuation

Lawyers call for standardised group life policy terms

The standardisation of group insurance terms and conditions could help achieve some of the Banking Royal Commission’s recommendations, a leading insurance law firm has sa...

Superannuation

Minimal super changes welcomed by Actuaries

A positive budget outlook should spur important long-term policy direction, according to the Actuaries Institute....

Policy & Regulation

Frydenberg takes financial services prosecutions federal

The Federal Government has budgeted to break new ground by shifting financial services criminal prosecutions away from the states and into the jurisdiction of the Federal...

Superannuation

RC didn’t dive deep enough on superannuation

AustralianSuper’s chief executive, Ian Silk, has suggested that the Banking Royal Commission didn’t cast a stern enough eye over parts of the superannuation industry, in ...

Financial planning

Banks cut staff bonuses, incentives

Banks are on track to meet their 2020 deadline to overhaul staff pay, a new report by former public service Commissioner, Stephen Sedgwick, has said. ...

Editorial

Hayne’s findings important but not without flaw

The chief executive of the Financial Planning Association (FPA), Dante De Gori is absolutely right to urge the major parties against turning the final recommendations of ...