government

Policy & Regulation

Labor tipped to move for new Senate inquiry

Reports suggest the Labor Opposition will move to establish another Senate Committee inquiry into financial planning....

Policy & Regulation

AIOFP urges disclosure regime on advice ownership

AIOFP has called on the Federal Government to reintroduce an ownership disclosure regime and for the equal prosecution of executives who have overseen poor advice....

Policy & Regulation

Opt-in FOFA consequences for industry funds

Finance Minister, Senator Mathias Cormann, claims there’s no ‘plan B’ if the Senate disallows the FOFA changes but competitive neutrality ought require that industry fund...

Policy & Regulation

Govt could do more to create super tax equity

The Government must ensure superannuation tax concessions are channelled into building retirement income for Australians who need it, ASFA says....

Financial planning

ISA slammed for “misrepresenting” banks

Industry Super Australia (ISA) has been accused incorrectly blaming the banking industry’s interests for a post-Future of Financial Advice (FOFA) return to a commissions’...

Financial planning

ASIC reminds CBA on its breach obligations

ASIC has acknowledged the CBA’s new compensation and review processes by reminding the banking group of its ongoing breach reporting obligations....

Editorial

Lightning strikes twice

The financial planning industry suffered substantial collateral damage as a result of the collapse of Storm Financial but, as Mike Taylor reports, last week’s Senate Comm...

Financial planning

Wrestling with retirement risks

Recent policy changes have made preparation – and the role of planners – more critical than ever in the post-retirement space. However, even for planners, it’s not an eas...

Financial planning

Cormann confirms telling Commbank to sort it out

The Minister for Finance and Acting Assistant Treasruer, Senator Mathias Cormann, has confirmed meeting with Commonwealth Bank chief, Ian Narev, and impressing on the ban...

Policy & Regulation

Disallow FOFA regulatory changes says ISA

Industry Super Australia has called on the Senate to disallow the Government’s FOFA regulatory changes claiming they will see a return to the bad old days....

Financial planning

Commbank promises detailed response

Commonwealth Bank chief executive, Ian Narev has promised a detailed response to last week’s scathing Senate Committee report as Financial Services Minsiter, Senator Math...

Financial planning

Royal commission must consider ASIC's resources: Medcraft

ASIC says a royal commission into its handling of Commonwealth Financial Planning (CommFP) scandal would divert resources from other investigations it's currently pursuin...

Policy & Regulation

ISA calls for halt on FOFA reforms

Proposed regulatory reforms of the FOFA legislation should be put on hold following the Senate Economics Committee report on ASIC’s performance, ISA believes....

Financial planning

Government cautious on Senate Committee recommendations

The future of the Seante Committee report into the performance of ASIC resides with the Government which is already signalling a cautious approach....