regulation

Policy & Regulation

Melbourne fin services business cops $9m penalty

A Melbourne-based financial services and credit business has been ordered by the Federal Court to pay penalties of just under nine million for multiple breaches of obliga...

Superannuation

ASFA urges Govt to expand work test exemption

ASFA is encouraging the Government to consider expanding access to the exemption from the contributions work test to individuals with a total superannuation balance under...

Superannuation

Govt signals death benefit changes

Assistant treasurer Stuart Robert has announced a plan to ensure that death benefits that include insurance proceeds are not subject to tax when rolled over to a new supe...

Policy & Regulation

Qld court appoints receiver after ASIC/US investigation

The Queensland Supreme Court has made ex parte orders regarding the Goldsky Global Access Fund, following an investigation by ASIC in which it was assisted by its America...

Life/Risk

Govt urged to drop insurance opt-in age to 21

The Federal Government has been urged to drop the minimum age for automatic insurance cover inside superannuation to 21, rather than age 25....

Superannuation

Govt extends CIPRs deadline

The Federal Government has moved to eliminate mistakes and oversights from its retirement income covenant at the same time as extending the deadline for funds introducing...

Financial planning

Dishonest adviser sent to prison

Dishonestly using his position to gain benefits in the amount of $800,000 has seen a former Gold Coast financial adviser sentenced to two-and-a-half years in prison by th...

Policy & Regulation

Standing Committee warned of “inequity” of ALP’s dividend reform

Labor’s proposed franking credits reforms are “flawed, inequitable and fail to meet the policy intent of improving the integrity of dividend imputation for all tax payers...

Policy & Regulation

Planner warns on franking credits policy fallout

A senior South Australian financial planner has warned a Parliamentary Committee that middle-class retirees will be most affected by the Federal Opposition’s franking cre...

Policy & Regulation

Despite everything, people still trust their banks

New research from Deloitte has revealed that, despite everything that has been heard at the Royal Commission, most people still trust their banks....

Policy & Regulation

Finance compliance and risk roles on the rise: SEEK

SEEK data has shown that the Royal Commission has led to a direct increase in compliance and risk roles being mandated by clients across all sub-segments of the financial...

Policy & Regulation

Life insurer claims data provision made mandatory

Life insurance companies are now under a legal obligation to provide consistent data on claims and disputes to the Australian Prudential Regulation Authority and the Aust...

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...

Policy & Regulation

New research counters Labor’s negative gearing claims

New research commissioned by building industry group, Master Builders Australia has pointed to significant economic damage resulting from the Federal Opposition’s policie...

Features

Financial services take to the stand

In a year in which few sectors of financial services have avoided the eagle eye of Commissioner Kenneth Hayne and his counsels assisting, Hannah Wootton investigates what...