regulation

Financial planning

APRA proposals might raise risk within mortgages: Fitch

Fitch Ratings believes that the Australian Prudential Regulation Authority proposals could slightly raise risk within mortgage portfolios where borrowers are granted mort...

Financial planning

FPA and AFA join forces on life/risk commissions

The Financial Planning Association and the Association of Financial Advisers have formed a joint taskforce to help guide the future of life/risk commissions....

Superannuation

Push for easier super fund comparability

Research revealing how alarmingly little consumers know about their super funds’ performance has strengthened calls for the Government and industry to provide an easy-to-...

Financial planning

Sydney former adviser banned for six years

The Australian Securities and Investments Commission has banned a Sydney man, formerly an adviser at Kaz Capital, from providing financial services for six years....

Policy & Regulation

Last report by Parliamentary Committee backs continuing vertical integration

Even though the Federal Election had already been called, the Senate Economics Legislation Committee has vetoed a One Nation bill which would have ended financial service...

Policy & Regulation

ASIC spotlights industry fund vertical integration

The Australian Securities and Investments Commission has broken new ground by imposing a penalty on HostPlus based on the commercial links and consequent service agreemen...

Policy & Regulation

IPA claims dodgy data underpins ALP’s tax advice changes

The Institute of Public Accountants has continued its defence of tax advice fees, arguing the move is unjustified and that the underlying data has been inappropriately us...

Policy & Regulation

Regulators band together to urge LIBOR transition

The Australian Securities and Investments Commission has written to the chief executives of several major financial institutions, encouraging them to transition away from...

Superannuation

Regulation stymieing retirement income product market

A regulatory framework created over 20 ago poses barriers to companies launching new retirement income products, despite Australians fearing running out of money in retir...

Life/Risk

ASIC may want codes of practice strengthened before granting approval

ASIC will likely require some insurance code of practice provisions are strengthened before it approves the code, and these requirements may extend to other industry bodi...

Expert Analysis

Other People’s Data: Finance’s other big responsibility

If financial institutions hope to improve public trust, Jonathan Steffanoni writes, they need to be careful in how they handle other people’s data....

Financial planning

Sydney wealth firm sees licence suspended by ASIC

The Australian Securities and Investments Commission (ASIC) has suspended the licence of Sydney-based Australasia Wealth Services Management (ASWM) for failing to meet re...

Policy & Regulation

ANZ battles past divestments with solid half

ANZ has battled its way to a $3.17 billion first half profit faced by home loan market headwinds and the continuing impact of customer remediation....

Superannuation

More change ahead for superannuation governance

A regulatory review of the 2013 prudential framework for the super industry has found that while its objectives were largely met, more change may be needed to keep it up-...

Policy & Regulation

Receiver appointed to former OTC derivates issuer

The Australian Securities and Investments Commission will appoint a receiver to former OTC derivatives issuer Berndale Capital Securities, following a successful applicat...