regulation

Superannuation

Govt proposes work test exemption to boost super balances

The Government has released draft legislation to exempt some older Australians with low super balances from the work test. ...

Financial planning

Royal Commission flags fees and regulatory failings in report

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has highlighted a toxic sales culture and a failure to regulate wrongd...

Policy & Regulation

Frydenberg cites fees for no service as RC take-out

The Federal Treasurer, Josh Frydenberg, has cited fees for no service and the failures of the regulators as being among his Royal Commission take-outs....

Policy & Regulation

FSC backs ASIC call on breach response times

The Financial Services Council has called on financial institutions to improve their response time to incidents, saying that action was urgently needed if they were going...

Policy & Regulation

ISA pulls ‘fox in the henhouse’

Industry Super Australia has reportedly pulled its ‘fox in the henhouse’ advertising just weeks after funding was questioned during the Royal Commission into Misconduct i...

Life/Risk

Industry fund files post-RC breach report with ASIC

Industry superannuation fund REST has filed a breach report with the Australian Securities and Investments Commission after admitting to failings during the Royal Commiss...

Superannuation

ATO to issue excess transfer balance cap notices

The Australian Taxation Office will start issuing excess transfer balance cap determinations to taxpayers with over $1.6 million in their super in the pension phase....

Policy & Regulation

Fair retirement body backs franking credits inquiry

The Alliance for a Fairer Retirement System has backed the government inquiry into Labor’s proposal to scrap refundable franking credits....

Policy & Regulation

It’s official: ASIC uncoupled from public service

The Australian Securities and Investments Commission has been formally legislatively uncoupled from the Australian Public Service, allowing it to employ people on competi...

Policy & Regulation

Kell to leave ASIC before year’s end

Peter Kell has resigned as deputy chair of the Australian Securities and Investments Commission, effective from 6 December, this year, following seven years of service at...

Policy & Regulation

ASIC has a case to answer, says Frydenberg

The Federal Treasurer, Josh Frydenberg says he believes the Australian Securities and Investments Commission has a case to answer for the issues raised in the Royal Commi...

Policy & Regulation

Bank divestments will increase competition says ASIC

The Australian Securities and Investments Commission has forecast a ‘new competitive dynamic’ in the wake of the banks divesting their insurance and wealth management bus...

Awards

Back to her roots to solve today’s issues

Advice RegTech’s Samantha Clarke has been named this year’s Innovator of the Year at the 2018 Money Management Women in Financial Services Awards. ...

Policy & Regulation

Banking Code should be universal: ABA

The new Banking Code of Practice should be adopted across the entire industry, including credit unions, building societies and other lenders, according to the Australian ...