regulation

Policy & Regulation

The Federal Government has focused its Bank Executive Accountability Regime on the four big banks, giving smaller institutions an extra year plus more flexibility....

Financial planning

ASIC warns on ‘general advice’

Replacing the term ‘general advice’ represents a positive step but it may need to be replaced by multiple terms and arrangements, according to the Australian Securities a...

Funds management

PFA warns that regulation could hurt retail investors

A proposal by Treasury to increase regulation for unlisted property products could lead to fewer products being available to retail investors, the Property Funds Associat...

Policy & Regulation

ASIC may have to consider competition

In the midst of a Productivity Commission inquiry into competition in financial services, the Government has proposed measures to make the Australian Securities and Inves...

Policy & Regulation

Parliamentary scepticism on insurance co-regulation

The voluntary approach to industry self-regulation in the life insurance industry is not working and needs compulsion....

Life/Risk

Industry codes need “teeth”

Life insurance industry codes need to have regulatory oversight and enforceability to properly hold insurers to account, according to a report from the Parliamentary Join...

Policy & Regulation

Just five firms using ASIC’s sandbox

The Australian Securities and Investments Commission has admitted only five firms are using its so-called regulatory sandbox, with many others utilising pre-existing alte...

Policy & Regulation

ASX200 companies fail in whistle-blower support

The Australian Council of Superannuation Investors has hit out at ASX200 companies, finding that many fail to protect or offer support to whistle-blowers....

Superannuation

FCA orders winding up of Superfunded

The Federal Court has made orders by consent to wind up Western Australian company Superfunded, following an application from ASIC to appoint a liquidator last month....

Policy & Regulation

Super pressure paused RG 97 implementation

The Australian Securities and Investments Commission has admitted that negative feedback from superannuation funds and lobby groups persuaded it to place the implementati...

Policy & Regulation

FSC warns on widening whistle-blower recipient status

Insurers and other members of the Financial Services Council might have to train thousands of managers and supervisors if the Government widens the scope of those eligibl...

Policy & Regulation

Call for grandfathering for annuities holders

The Federal Government has been urged to ensure grandfathering for existing annuities holders if it implements changes to the Age Pension means testing rules....

Policy & Regulation

Adviser permanently banned over dishonest fees

ASIC has permanently banned a New South Wales financial adviser from providing financial advice, following a finding that he dishonestly charged clients almost $67,000 in...

Policy & Regulation

Morrison cites power of BEAR on Commbank CEO appointment

The Federal Treasurer, Scott Morrison, has cited the impending passage of the Bank Executive Accountability Regime when discussing the appointment of a new Commonwealth B...

Policy & Regulation

Law firm calls for control test to be restricted

The Fold Legal has proposed that the definition of control under the Corporations Act be restricted, despite an Australian Securities and Investments Commission taskforce...