regulation

Superannuation

Industry identifies glitches in Govt’s super legislation

The Federal Government has been warned that glitches in its Protecting Your Super legislation could result in fund members being treated unequally....

Superannuation

Accusation of CIPR ‘cargo cult’

Industry funds group, the Australian Institute of Superannuation Trustees has accused Treasury of fostering a ‘cargo cult’ with respect to the Comprehensive Income Produc...

Policy & Regulation

Mortgage Choice weathers RC storm

Mortgage Choice has taken its predicted profit hit amid the slowing property market and the uncertainties created by the Royal Commission....

Policy & Regulation

ATO SMSF auditor referrals to ASIC “steadily increasing”

The Australian Taxation Office has said that it’s already referred 37 SMSF auditors to the Australian Securities and Investments Commission since last June, as part of th...

Superannuation

Super funds will struggle to meet Govt deadline

Superannuation funds will likely struggle to meet the Government’s 1 July implementation date for its new superannuation legislation....

Superannuation

Legislation closes the super corporate box

The Federal Government has succeeded in substantially passing legislation which will significantly curtail the ability of superannuation funds to use corporate hospitalit...

Superannuation

FSC welcomes passage of superannuation bill

The Financial Services Council has welcomed the Senate’s passage of superannuation bills which will reduce fees charged on low balance MySuper accounts....

Financial planning

Regulation must come with accountability

The enforcement of new regulation must come with accountability and resources, according to the Institute of Public Accountants....

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 ...

Policy & Regulation

Greens would compel banks out of wealth management

The banks would be compelled out of the wealth management industry and AMP would have to break up its operations under policy proposals flagged by the Australian Greens i...

Financial planning

Financial system reform needs rigor: FSC

Legislation to implement the recommendations of the Banking Royal Commission should be treated with diligence and rigor, according to Financial Services Council chief exe...

Policy & Regulation

Hundreds of firms in Australia affected by Brexit

The Australian Securities and Investments Commission has confirmed hundreds of firms operating in the Australian financial services industry are affected by the United Ki...

Financial planning

Dishonest adviser faces decades in jail

A former Adelaide financial adviser has pleaded guilty to 29 dishonesty offences committed when he was a planner, after ASIC found that he stole around $4.88 million from...

Policy & Regulation

IPA welcomes instant write-off extension

The Institute of Public Accounts has commended the Government’s decision to extend the instant asset write-off for small businesses to 2020, but argues it should be a per...

Policy & Regulation

Change is still a way off on ALRC proposal: Honan

Despite the Australian Law Reform Commissions’ recent recommendations stemming from its Inquiry into Class Action Proceedings and Third-Party Litigation Funders, Honan In...