fees

Policy & Regulation

ANZ to refund low income customers $5 million due to glitch

Australia and New Zealand Banking Group (ANZ) is refunding $5 million to basic account holders for incorrect late payment and over limit fees. ...

Financial planning

More FOFA amendments extend FDS timeframes

The Parliament has passed key amendments to the FOFA legislation extending fee disclosure statement and opt-in renewals to 60 days....

Superannuation

Govt empowers PC to dissect super defaults

The Federal Government’s terms of reference to the Productivity Commission has opened the way for radical change to the default funds environment....

Superannuation

Kinetic Super to cut admin fees

Kinetic Super has announced its New Year’s resolution, to cut administration fees by 15 cents a week. ...

Financial planning

FOFA opt-in amendments welcomed

The Association of Financial Advisers has welcomed FOFA amendments extending opt-in time-frames....

Financial planning

ASIC fee guidance leaves consumers in dark: ISA

ISA claims ASIC’s fee disclosure requirement update leaves consumers in the dark on fees charged by ‘for-profit’ superannuation funds run by banks. ...

Superannuation

ASIC changes so complex you need a whiteboard

Proposed ASIC class order changes to fees and costs disclosure are so opaque one industry group has called for whiteboards and an industry roundtable to dissect them....