senate

Financial planning

Liberal senator hits out at excessive financial advice costs

Liberal senator Slade Brockman has said the government needs to have a “cold hard look” at the level of regulation in the financial advice space and the costs of running ...

Financial planning

What has Bragg concluded from ASIC inquiry?

Senator Andrew Bragg has shared his biggest takeaway from chairing the Senate’s ASIC inquiry ahead of the publication of its final report, while calling for a wider finan...

Financial planning

Only half of ASIC referrals result in convictions in FY22-23

The conviction rate for cases referred by ASIC to the Commonwealth Director of Public Prosecutions has fallen to half compared to 100 per cent in the year prior....

Financial planning

Former ASIC chair let down by regulator over 'soul destroying' smear campaign

James Shipton has called out his former employer for failing to support or protect him during a six-month abusive ad campaign in 2020 by a defendant charged with offenses...

Policy & Regulation

ASIC inquiry dispute continues as Labor appears in Senate

The war of words regarding ASIC’s provision of evidence to a Senate inquiry has continued as Labor senator Katy Gallagher appears in the Senate to provide an explanation ...

Policy & Regulation

Labor defends ASIC’s independence against Senate inquiry

The Labor government has hit back at the Senate Economics Reference Committee’s request for evidence from ASIC as it is an independent regulator and suggested it provide ...

Policy & Regulation

ASIC reject claims of undermining inquiry

ASIC has unequivocally rejected claims that it tried to undermine a Senate inquiry by requesting public interest immunity for certain questions....

Policy & Regulation

Should MIS review single out property schemes?

A financial services lawyer has raised questions about the managed investment scheme review focusing so heavily on the real estate asset class. ...

Funds management

Treasury ordered to publish ASIC probe findings

The Senate has ordered Treasury to disclose a confidential report detailing findings from a probe into alleged misconduct by ASIC's deputy chair. ...

Policy & Regulation

ASIC faces Senate grilling, deputy chair holds ground

A Senate committee has called into question ASIC deputy chair Karen Chester's capacity to serve amid “mixed” evidence presented to a Senate committee regarding alleged m...

Policy & Regulation

Lowe responds to 'unfair' governorship criticism

'It's not just me', RBA governor, Phil Lowe, has said in response to criticism of the central bank's monetary policy tightening strategy., ...

Policy & Regulation

APRA’s climate modelling draws flak in Senate estimates

In a tense exchange with APRA representatives, Senator Matt Canavan questioned if the regulator’s climate vulnerability assessments were ‘a complete waste of money’. ...

Policy & Regulation

APRA’s climate modelling draws flak in Senate estimates

In a tense exchange with APRA representatives, Senator Matt Canavan questioned if the regulator’s climate vulnerability assessments were ‘a complete waste of money’. ...

Financial planning

Higher interest rates still 'needed' despite inflation peak: RBA

Appearing before the Senate select committee, the Reserve Bank of Australia has held fast to its monetary policy tightening strategy despite conceding inflation has passe...