Royal Commission

Features

In a year in which few sectors of financial services have avoided the eagle eye of Commissioner Kenneth Hayne and his counsels assisting, Hannah Wootton investigates what...

Policy & Regulation

ASIC signals litigious intent

The Australian Securities and Investments Commission has signalled the likelihood that it will become significantly more litigious in the wake of the Royal Commission....

Policy & Regulation

Industry funds allege investment manager carve-out

Industry superannuation funds have questioned why product manufacturers such as investment managers have been “carved-out” of the Government’s new laws around design and ...

Financial planning

Big Four hit hardest in satisfaction ratings

The Royal Commission has unsurprisingly hit consumers’ satisfaction with the banks, with negative sentiment toward the Big Four accounting for most of the drop....

Financial planning

RC sparks increased appetite for advice: Metlife

Despite the bad press, 38 per cent of small to medium enterprises (SMEs) and 20 per cent of advised consumers say the Royal Commission will make them even more likely to ...

Financial planning

RC doesn’t shake industry’s hiring intentions

The Royal Commission doesn’t seem to have dampened the industry’s hiring intentions, with the finance, insurance and real estate sector showing its highest employment int...

Financial planning

Fee for no service remediation could exceed $1 billion

The Australian Banker’s Association has confirmed that the total cost of fee for no service remediation could exceed $1 billion....

Financial planning

ABA pushes for end of fees from the deceased and grandfathering

After Royal Commission testimony revealing banks charged deceased clients fees, the Australian Banking Association has announced reforms to the Banking Code of Practice t...

Financial planning

Don’t waste a good crisis: CFA

While the Banking Royal Commission may have sent financial services industry members running for shelter, CFA Society President, Paul Smith, said a good crisis shouldn’t ...

Financial planning

Scale key to future advice business, Fortnum says

Advice businesses will find the future increasingly challenging unless they can gain the necessary advantages of scale, according to a new report from Fortnum Private Wea...

Editorial

RC’s preliminary report drives home the reality of perceptions

The Royal Commission’s preliminary report may be flawed when it comes to understanding the nuances of the industry but it should be accepted as an accurate reflection of ...

Life/Risk

ClearView rules out ever returning to direct insurance

ClearView has told the Royal Commission it has no intention of returning to direct life/risk insurance and will remain focused on the advised market....

Life/Risk

RC urged to hold life/risk board members to account

The Royal Commission has been urged to hold the board members of ClearView to account for breaches of directors’ duties relating to the activities of its direct life/risk...

Life/Risk

AMP rebuts RC death claims

AMP Limited has sought to rebut claims made during the Royal Commission that it engaged in misconduct in its deduction of superannuation fund members’ insurance premiums ...

Financial planning

RC lacks understanding of advice, says AFA

The Association of Financial Advisers has defended life/risk commissions and grandfathering while criticising the Royal Commission’s interim report, claiming it suggests ...