policy

Policy & Regulation

The Australian Securities and Investments Commission has admitted it has emerged a winner with greater powers and more discretion with respect to Australia’s financial se...

Financial planning

BEAR will impact bank wealth divestments

The major banks may find themselves still subject to the Bank Executive Accountability Regime where their brand attaches to wealth and insurance businesses after partial...

Policy & Regulation

Regional banks call for level playing field

Australia’s regional banks and AMP have called for a level playing field and recognition of the advantage handed to the major banks by the Government guarantee....

Superannuation

Dismantling industry super governance model detrimental to savings

The governance of industry superannuation funds is a key driver of their superior outperformance, ISA believes....

Accounting

ASIC chasing unlicensed accountants

Unlicensed accountants are being asked to ‘please explain’ by ASIC as they may be in breach of financial services laws, a law firm said....

Superannuation

Super bills ‘leave pass’ for banks

The ISA has hit out against the Federal Government’s introduction of super bills yesterday, arguing new transparency and disclosure rules could hurt industry super....

Policy & Regulation

No certainty on Govt’s EDR legislation

General industry resistance to the inclusion of the Superannuation Complaints Tribunal in the proposed new Australian Financial Complaints Authority means the Government’...

Life/Risk

Insurance payout not rare for Aussies

ASFA has found that while receiving an insurance payout is not a rare event under insurance costs the government more than $1 billion annually....

Accounting

New guidelines for due diligence of non-regulated disclosures

The Accounting Professional and Ethical Standards Board has today announced new guidance around due diligence sign-offs measures for accountants....

Financial planning

What ASIC thinks life/risk advisers earn

The Australian Securities and Investments Commission has outlined to a Parliamentary Committee what it thinks life/risk advisers actually earn via the statement of advice...

Funds management

Broker satisfaction high among Aussies

Only four per cent of online investors chose to leave their current broker in the last year, indicating high levels of satisfaction with Australian brokers....

Policy & Regulation

APRA contemplates applying BEAR elsewhere

The Australian Prudential Regulation Authority chairman, Wayne Byres has signalled the regulator is considering where else in the financial services industry the Bank Exe...

Financial planning

AFSLs warned not to hire bankrupts

AFSLs could risk breaching their compliance obligations should they choose to employ someone with a conviction or bankruptcy, and should consider the nature of the offenc...

Superannuation

Super settings should be reviewed every five years

Superannuation should be reviewed every five years in line with the Intergenerational Report and needs to be removed from the annual Budget cycle, the SMSF Association be...