regulation

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 ...

Policy & Regulation

Super funds face ASIC shadow shop

The Australian Securities and Investments Commission has signalled that it will be undertaking a shadow shop of superannuation funds....

Policy & Regulation

When bank executives escape punitive pay cuts

The Australian Prudential Regulation Authority has pointed to multiple instances where lower level bank employees have suffered pay cuts related to failures, but their ex...

Policy & Regulation

Westpac admits fault, agrees to $35 mil penalty

Westpac has admitted breaching its responsible lending obligations when providing home loans, and agreed to a $35 million civil penalty to resolve Federal Court proceedin...

Policy & Regulation

Should ASIC personnel get bonuses?

A Parliamentary Committee has been told that public servants working within the Australian Securities and Investments Commission are eligible to earn bonuses, but at leas...

Policy & Regulation

Increased regulation the biggest challenge

New research conducted by RBC Investor and Treasury Services has confirmed that regulation is the big challenge facing asset managers....

Policy & Regulation

Has ASIC lost its regulatory authority?

The Royal Commission has been asked to consider whether, by dealing with banks and financial services institutions via press releases and enforceable undertakings rather ...