regulation

Superannuation

FSC welcomes passage of superannuation bill

The Financial Services Council has welcomed the Senate’s passage of superannuation bills which will reduce fees charged on low balance MySuper accounts....

Financial planning

Regulation must come with accountability

The enforcement of new regulation must come with accountability and resources, according to the Institute of Public Accountants....

Superannuation

Govt legislates on industry fund corporate boxes

The Federal Government has controversially amended legislation before the Parliament to target the use of corporate boxes by industry funds to influence employer default ...

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

Financial system reform needs rigor: FSC

Legislation to implement the recommendations of the Banking Royal Commission should be treated with diligence and rigor, according to Financial Services Council chief exe...

Policy & Regulation

Hundreds of firms in Australia affected by Brexit

The Australian Securities and Investments Commission has confirmed hundreds of firms operating in the Australian financial services industry are affected by the United Ki...

Financial planning

Dishonest adviser faces decades in jail

A former Adelaide financial adviser has pleaded guilty to 29 dishonesty offences committed when he was a planner, after ASIC found that he stole around $4.88 million from...

Policy & Regulation

IPA welcomes instant write-off extension

The Institute of Public Accounts has commended the Government’s decision to extend the instant asset write-off for small businesses to 2020, but argues it should be a per...

Policy & Regulation

Change is still a way off on ALRC proposal: Honan

Despite the Australian Law Reform Commissions’ recent recommendations stemming from its Inquiry into Class Action Proceedings and Third-Party Litigation Funders, Honan In...

Financial planning

ASIC bans inadequately trained planner

A Hobart financial planner who was not sufficiently trained, despite holding a Diploma of Financial Planning from Kaplan, or competent to provide financial services has b...

Policy & Regulation

Tax agents banned following consumer complaints

Two registered tax agents, QTR Accountants and Nicoh Group, have had their registrations terminated following 19 consumer complaints about their conduct....

Policy & Regulation

Kaz Capital hit with further compliance review

ASIC has imposed additional conditions on the Australian financial services licence of Kaz Capital, following concern on the adequacy and effectiveness of the company’s c...

Policy & Regulation

Where are this year’s pre-Budget submissions?

Industry organisations and firms have until 1 February to lodge a pre-Budget submission with the Federal Treasury but, thus far, no one actually has....

Policy & Regulation

When being a chartered accountant is not enough

Having an unblemished record as a chartered accountant is not justification in itself for being granted an Australian Financial Services License, according to the Adminis...

Superannuation

ASIC weak on super fee disclosure: ISA

Industry Super Australia has warned that the Australian Securities and Investments Commission’s latest recommendations on super fee disclosure don’t go far enough in crea...