Kenneth Hayne

Financial planning

CBA acting on RC advice recommendations: Comyn

CBA has expressed its total support for the Banking Royal Commission’s final recommendations and signalled how it is already acting on many of them as it seeks to rebuild...

Superannuation

Does size matter for MySuper options?

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...

Superannuation

Govt legislates on industry fund corporate boxes

The Federal Government has controversially amended legislation before the Parliament to target the use of corporate boxes by industry funds to influence employer default ...

SMSF

RC to improve financial advice: SMSF Association

The Royal Commission has laid groundwork to improve the financial services sector and build a more trusted industry, according to the SMSF Association....

Financial planning

Responsibility lies with management: EY

Kenneth Hayne’s emphasis on culture signals clearly that responsibility for misconduct lies with the senior management and boards of the entities involved, an executive a...

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

Hayne calls for end of advice fee deductions

The Royal Commission has recommended the deduction of any advice fee other than intra-fund advice from a MySuper account be prohibited, while their deduction from choice ...

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 ...

Financial planning

How do we stop ‘rolling bad apples’? Asks Hayne

Royal Commissioner, Kenneth Hayne has questioned whether individual licensing might be a means of ‘rolling bad apple’ advisers moving between licensees....

Policy & Regulation

AMP to face another Royal Commission grilling

AMP Limited is listed to face another round of Royal Commission questioning as the process enters its final week....

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

ABA pushes for end of fees from the deceased and grandfathering

After Royal Commission testimony revealing banks charged deceased clients fees, the Australian Banking Association has announced reforms to the Banking Code of Practice t...

Editorial

RC’s preliminary report drives home the reality of perceptions

The Royal Commission’s preliminary report may be flawed when it comes to understanding the nuances of the industry but it should be accepted as an accurate reflection of ...

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...