Royal Commission

Policy & Regulation

Royal Commission transgressors face stiffer penalties

The Australian Securities and Investments Commission has been handed tougher penalties with which to pursue people referred to it by the Royal Commission....

Superannuation

Legislation closes the super corporate box

The Federal Government has succeeded in substantially passing legislation which will significantly curtail the ability of superannuation funds to use corporate hospitalit...

Financial planning

Unity and industry participation key post-RC

The advice industry can rally from the Royal Commission’s fall-out by uniting around positive stories, according to a Dow Jones executive who saw the US industry undergo ...

Policy & Regulation

Was the old ASIC embarrassed to lose?

A senior financial services barrister has revealed that the Australian Securities and Investments Commission was reluctant to pursue prosecutions because of the embarrass...

Financial planning

Planners brace for the reality of a flat fee for service world

Financial planners are braced for the reality of a flat fee for service world, with most indicating they expect that to be their major source of revenue in the aftermath ...

Superannuation

Govt legislates on industry fund corporate boxes

The Federal Government has controversially amended legislation before the Parliament to target the use of corporate boxes by industry funds to influence employer default ...

Superannuation

IOOF’s OnePath transaction gets parliamentary scrutiny

A key parliamentary committee has questioned the future of ANZ’s sale of the OnePath pensions and investments business to IOOF....

Funds management

Financial sector in top spot despite RC

While the Royal Commission’s final report was touted to rock the financial services industry, the financial sector has defied expectations, according to FE Analytics. ...

Financial planning

Financial system reform needs rigor: FSC

Legislation to implement the recommendations of the Banking Royal Commission should be treated with diligence and rigor, according to Financial Services Council chief exe...

Financial planning

Planners want pre-RC BOLR valuations

A number of AMP financial planners have been calling on their representatives to press the company for pre-Royal Commission valuations to be applied to Buyer of Last Reso...

Financial planning

Did the RC miss the mark?

More research has emerged suggesting the Royal Commission final report may have unduly targeted intermediaries rather than major banks and product providers....

Superannuation

RC’s last resort scheme is a win for SMSFs

The recommendation from the Royal commission to introduce a last resort compensation scheme for consumers suffering a financial loss from advice failures is a win for SMS...

Financial planning

Accountants want to be re-enabled to give advice

The Institute of Public Accountants has made a direct call for accountants to be re-enabled to have ‘broader and deeper holistic conversations’ with clients....

Editorial

The Royal Commission should have gone longer, further

The final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has identified some important issues but the compl...

Financial planning

Planners urge ASIC to review asset-based fees

The Independent Advisers Association of Australia has urged the Australian Securities and Investments Commission to act on the views of the Royal Commission by reviewing ...