funding

Financial planning

The proposed AFCA user-pays funding model will be introduced from 1 July with a few improvements following industry feedback while the superannuation levy will be abolish...

Financial planning

Advisers could face more costs under AFCA recommendations

The first review of the Australian Financial Complaints Authority has made 13 recommendations for its improvements but acknowledged these may result in increased costs fo...

Financial planning

AFCA examines possibilities for fairer funding model

The Australian Financial Complaints Authority is examining fees and funding ahead of the findings from an independent review and how it can treat smaller firms more fairl...

Financial planning

ASIC levy reduced by Govt

This relief would see the corporate regulator’s levy restored to its FY19 level of $1,142 per adviser for the next two years, while the flat per licensee charge would rem...

Policy & Regulation

ASIC agrees levy an issue but points to legislation as cause

The corporate watchdog has said it has been communicating with Government and Treasury about its funding model for three years but that they needed to be compliant with t...

Financial planning

ASIC levy to continue to fund litigation

The corporate watchdog has confirmed it will use 80% of its funding towards enforcement, supervision, and surveillance activities for financial year 2021-22....

Policy & Regulation

Make funding for commercialisation of uni research: Atlas

Finding alternatives to the funding of research at Australian universities could prevent it from collapse, according to Atlas Advisers Australia....

Policy & Regulation

Three banks found improperly reporting funding stability

Three banks have been asked by the Australian Prudential Regulation Authority to tighten their intra-group funding arrangements. ...

Policy & Regulation

Planning licensees amongst biggest ASIC funders

The new industry funding model for the Australian Securities and Investments Commission will see financial planning licensees and credit providers carrying some of the gr...

Superannuation

Govt puts super fund governance back on agenda

Despite suggestions it had shelved its push for majority independent directors on superannuation fund boards, the Government has made clear the issue remains very much al...

Policy & Regulation

Increase funding to TPB says CPA Australia

CPA Australia has urged the Government to increase funding to the Tax Practitioners Board to enable it to better regulate new entities....

Policy & Regulation

Tax reform needed over GST and public sector service funding

The Australian Bankers’ Association has called for a change to tax reforms as part of a review into how public sector services are funded....

People & Products

Fitzpatricks in PE deal

Financial planning firm Fitzpatricks Group has gained private equity backing to drive its growth ambitions....

Superannuation

Super funds on notice on related party expenditure

Superannuation may have to more clearly justify their expenditure on advertising campaigns via related parties under governance changes being proposed by the Australian P...

Life/Risk

Life insurer shelf space fees legal, for now

The Australian Securities and Investments Commission has confirmed shelf space fees charged by advice licensees to life insurers mostly remain legal, for now....