parliamentary committee

Policy & Regulation

Don’t rely on our audit inspection reports says ASIC

The audit industry has been delivered a reasonably favourable assessment by a key Parliamentary Committee because the Australian Securities and Investments Commission sai...

Financial planning

How much trust in AMP took a hit

AMP Limited has acknowledged the major hit taken to its public reputation but holds hopes that it can restore trust in around three years....

Policy & Regulation

Last report by Parliamentary Committee backs continuing vertical integration

Even though the Federal Election had already been called, the Senate Economics Legislation Committee has vetoed a One Nation bill which would have ended financial service...

Policy & Regulation

Franking credits inquiry ends as it began – in disagreement

The Parliamentary Committee inquiry into the removal of franking credits has ended as it began – in disagreement between the major parties....

Superannuation

IOOF’s OnePath transaction gets parliamentary scrutiny

A key parliamentary committee has questioned the future of ANZ’s sale of the OnePath pensions and investments business to IOOF....

Policy & Regulation

Greens would compel banks out of wealth management

The banks would be compelled out of the wealth management industry and AMP would have to break up its operations under policy proposals flagged by the Australian Greens i...

Financial planning

NAB’s hypocrisy “breathtaking”: FSU

FSU national secretary Julia Angrisano has slammed NAB as being “breathtaking” in its hypocrisy, following reported admissions that its CEO breached its policies with lit...

Life/Risk

FSC proposal described as Trojan horse

Plaintiff law firm, Maurice Blackburn has labelled the Financial Services Council’s failed bid to have life/risk insurers allowed involvement in worker rehabilitation as ...

Life/Risk

FSC and insurers rebuffed on worker rehabilitation proposal

The Joint Parliamentary Committee on Corporations and Financial Services has rebuffed an FSC proposal to allow life/risk insurers to participate in getting injured worker...

Financial planning

FPA suggests risk rating financial products

The Financial Planning Association has suggested risk rating financial products to better target consumer protections....

Policy & Regulation

ACCC identifies as fin services ‘competition champion’

The Australian Competition and Consumer Commission has told a key parliamentary committee it is funded and empowered to be the financial services “competition champion”....

Superannuation

Don’t overstate industry fund outperformance, says Committee

A key Parliamentary Committee report has specifically cited the Australian Prudential Regulation Authority as suggesting not too much should be made of the perceived outp...

Financial planning

FPA issues warning on Managed Investment Trusts

The Financial Planning Associated has cited the “massive losses” associated with agricultural and forestry managed investment schemes in urging the Government to amend le...

Policy & Regulation

Give us competition powers says ASIC

The new chairman of the Australian Securities and Investments Commission has told a Parliamentary Committee the regulator needs competition powers to help it do its job....

Policy & Regulation

Big banks face double scrutiny

The Government may have sought to use Parliamentary committee scrutiny of the big banks to avoid holding a Royal Commission but now that same committee intends to test th...