remuneration

Policy & Regulation

ASIC throws remuneration into intervention mix

The Australian Securities and Investments Commission has canvassed its product intervention power being extended to identifying inappropriate remuneration structures....

Financial planning

NZ opts for planner remuneration transparency

While commission-based remuneration of planners is under greater threat in Australia, the New Zealand Government is opting to pursue a transparency approach around advise...

Policy & Regulation

APRA raps major instos over executive remuneration

An Australian Prudential Regulation Authority has found Australia’s major banks, insurers and superannuation funds falling short on executive remuneration practices....

Accounting

CBA board pulls back on senior executive remuneration

The Commonwealth Bank board may be backing its chief executive, Ian Narev but both he and his senior executive team are being made to take a remuneration haircut....

Policy & Regulation

FOFA contains too many remuneration exemptions

A Parliamentary Committee has been told the Future of Financial Advice regime contains too many exemptions to make it effective in removing the sales culture within Austr...

Life/Risk

Ban commissions, cross-sell say industry funds

The Australian Institute of Superannuation Trustees wants all commissions and other forms of conflicted remuneration for the sale of retail life policies banned....

Life/Risk

ASIC talk tough on conflicted remuneration

Insurers still involved in remuneration arrangements regarded as conflicted can expect a tough approach from ASIC....

Superannuation

APRA to assess performance-based remuneration

The prudential regulator is launching a review of the remuneration policies of regulated institutions and how they tie into organisational implementation of risk culture ...

Financial planning

JBWere’s new adviser remuneration model welcomed

JBWere’s new remuneration model for advisers, which reduces reliance on grid commissions, has been welcomed by the SAA....

Financial planning

Independent planning firms providing better remuneration

Planners working for independent firms are faring better in the pay rise stakes than their institutional counterparts, according to a survey....

Funds management

Investment management remuneration rises modestly

More challenging times have seen the remuneration of investment management executives rise only modestly....

Financial planning

Employers increase pay to retain staff

Financial services employers are increasing employee remuneration as a retention strategy for their most valued, according to a report....

Financial planning

Grandfathering a game of diminishing returns

Managed account specialists warn that grandfathering needs to be viewed as a diminishing resource....

Life/Risk

Upfront insurance commissions justified - in some cases

Rice Warner says upfront life commissions can be justified where advisers have done the hard yards on initial advice....

Financial planning

Revisit conflicted remuneration, not risk commissions, policymakers told

Instead of targeting commissions for life insurance products, policy reforms should revisit conflicted remuneration, which hasn’t been properly handled by FOFA, Chan & Na...