treasury

Superannuation

Universal Age Pension will incentivise Aussies to save

Mercer has called for a universal Age Pension as it would create a simpler, more efficient super system with reduced administration costs....

Life/Risk

FPA wants limitations on insurer ‘advice’

Strong rules need to be written to ensure that financial advice given by insurance companies or their representatives at claim time is clearly recognised for what it is –...

Financial planning

AFCA gap gives banks ability to avoid liability

Businesses and farmers with facilities over $5 million are now in a worse financial position than parties with credit facilities under $5 million who are able to seek com...

Policy & Regulation

Govt’s code-monitoring decision will save millions

The Government’s decision to scrap industry-run Code Monitoring Authorities will save the major planner bodies millions in set-up and running costs....

Financial planning

FPA urged Treasury to differentiate between large and small licensees

The Financial Planning Association urged the Treasury to ensure the costs of extra regulatory scrutiny of major licensees such as the banks and AMP were not ultimately ca...

Policy & Regulation

Industry praises Treasury appointments

Industry bodies have applauded the Government’s appointments to the Treasury, stating it is a ‘clear indication’ of the strategic focus being placed on financial services...

Policy & Regulation

Choice wants voice on RC rectification taskforce

Consumer group Choice wants the Federal Government to fund a Royal Commission rectification taskforce and, furthermore, it wants recognition as a key stakeholder in imple...

Financial planning

Financial adviser exam will cost millions

The Financial Adviser Standards and Ethics Authority’s business plan has revealed the financial adviser exam will cost millions and be the authority’s single biggest expe...

Outsider

Nag, nag, nag but the horses have bolted

Outsider spent a reasonable portion of his working life strolling the corridors of the Federal Parliament and thus, he thinks he knows a thing or two about how the system...

Superannuation

ASFA urges Govt to expand work test exemption

ASFA is encouraging the Government to consider expanding access to the exemption from the contributions work test to individuals with a total superannuation balance under...

Financial planning

Advice carve-outs undermine RC findings, says ISA

Industry Super Australia has accused the Government of caving into the retail banks and the wealth management sector in allowing ‘carve-outs’ from the design and distribu...

Financial planning

Exclude advice from product intervention, says FPA

The Financial Planning Association (FPA) has welcomed the fact that financial advice and how it is delivered has been excluded from draft legislation handing the Australi...

Policy & Regulation

Government creates second APRA deputy chair role

In an effort to strengthen the regulator, the Turnbull Government has nominated Treasury veteran John Lonsdale to fill a newly created second deputy chair role at the Aus...

Policy & Regulation

Treasury targets foreign investors

The Turnbull Government has released draft legislation on the tax treatment of stapled structures aimed at ensuring foreign investors pay their fair share of tax....

Funds management

PFA warns that regulation could hurt retail investors

A proposal by Treasury to increase regulation for unlisted property products could lead to fewer products being available to retail investors, the Property Funds Associat...