PC | Money Management

PC

Financial planning

Call for compulsory annual reporting on adviser trails

Big industry fund, AustralianSuper has called for an end to grandfathering and for a legal obligation on superannuation funds to provide members with an annual report of ...

Superannuation

FSC targets scale of under-performing industry fund defaults

The Financial Services Council has used Productivity Commission analysis and data to suggest that there is a very significant underperformance problem for not-for-profit ...

Superannuation

ASIC raises absence of ‘best interests’ obligation for employers

The Australian Securities and Investments Commission has noted the absence of a ‘best interests’ obligation on employers when selecting default superannuation and the lac...

Policy & Regulation

PC: Trail commissions for mortgage brokers should go

Trail commissions have been dealt another blow, with the Productivity Commission recommending that they be banned in mortgage broking for all loans from the end of this y...

Superannuation

PC report shows SMSFs should pay attention to fees, costs

The Productivity Commission’s draft report into superannuation is a “timely reminder” to self-managed super fund trustees to pay close attention to fees and costs, the SM...

Financial planning

Productivity Commission urges end to ‘general advice’

The Productivity Commission has agreed the term ‘general advice’ is misleading and should be changed, with advice being regarded as being owned by professional advisers....

Policy & Regulation

ASIC confirms insurer super rebates

ASIC has confirmed around 20 per cent of superannuation fund receive ‘rebates’ from insurers with a similar number accepting corporate hospitality....

Financial planning

Default system entrenching regulator and union power

Big banking group ANZ has claimed the current default super system has served to entrench regulator, employer and union influence....

Superannuation

Govt tasks PC on key superannuation issues

The Federal Government has tasked the Productivity Commission with making far-reaching recommendations on the future of the superannuation industry with particular refere...

Funds management

Investment managers face further fee scrutiny

The Productivity Commission’s review of fees and returns in the superannuation sector is expected to result in more investment manager scrutiny....

Financial planning

Planners off ISA agenda as it targets banks

Industry Super Australia has signalled it is more concerned about banks than planners in the post-Future of Financial Advice world....

Superannuation

Should under 25s be treated differently on super?

The Productivity Commission has been told under 25s may be better off not going immediately into the superannuation system and instead be directed to a Government-run def...

Superannuation

That seat in the corporate box may be illegal

ASIC has pointed out that super funds which offer employers seats in their corporate boxes at major sporting events may be guilty of providing an illegal inducement. ...