government and regulation

Financial planning

ASIC claim HFT not cause for concern in Australia

ASIC has rebuffed suggestions HFT is a problem and stated a ‘lack of hysteria’ should not be mistaken for complacency....

Superannuation

Sovereignty costing super members: Grattan Institute

Government should open tender process for small pool of default funds, says Grattan Institute....

Financial planning

Govt told to stop legislating by press release

Govts of both persuasions told to stop legislating by press release in circumstances where considerable costs and inconvenience are being imposed on employers, advisers a...

Superannuation

Uncertainty turning youngsters off super

Constant debates on super regulation is deterring young people from superannuation, and they are instead investing in assets over which they have more control and certain...

Financial planning

ASIC should be able to sue for compensation

ASIC should be given powers to pursue compensation including the first right to sue ahead of investors involved in class actions....

Superannuation

Govt must weigh up cost of age pension rise: SPAA

Flow-on effects of lifting the pension age to 70 could see older Australians grow reliant on other social security benefits, says SPAA....

Superannuation

ATO signals end to prolonged disputes

The Tax Commissioner, Chris Jordan, has signalled an end to prolonged disputation and audits....

Financial planning

Wealth Within speaks out over ad fines

Wealth Within has sought to defend its reputation in the face of fines imposed by the corporate regulator for misleading advertising....

Financial planning

Will Govt sell ASIC company registry?

Newspaper reports are speculating that the Government will sell off ASIC’s company registry business. ...

Policy & Regulation

FSI not best place to debate FOFA changes

FOFA should be given time to settle before further changes, according to Minter Ellison....

Financial planning

CommFP can still improve, says ASIC

ASIC tells a Senate Committee that while Commonwealth Financial Planning has lived up to its enforceable undertaking requirements, further work is required on its breach ...

Financial planning

Limited resources is reason for not acting on lenders of last resort: ASIC

ASIC claims it is constrained by limited resources and a priority to protect consumer investors after claims it has overlooked the actions of commercial lenders...

Policy & Regulation

Did ASIC lack intelligence and skills?

The Senate Committee reviewing ASIC’s performance is likely to make recommendations based on how past failures were owed to a lack of intelligence and necessary skills....

Policy & Regulation

GFC spurs increased paternalism in legislation

Scaled and scoped advice has received undue focus under the Future of Financial Advice (FOFA) legislation, and is a sign of increasing levels of paternalism in legislatio...