regulation

Policy & Regulation

Shipton defends ASIC’s close relationship with bank execs

The frequent contact between ASIC commissioners and the chief executives and boards of the institutions they regulate is purely professional, ASIC’s chair has told the Ro...

Superannuation

SMSF research identifies challenge of regulatory uncertainty

The SMSF Association is selling the message that you don’t need $1 million to set up a self-managed superannuation fund but regulatory uncertainty does represent a major ...

Policy & Regulation

Former financial services rep banned for stealing

A former Perth financial services representative has been banned from providing financial services following a Court conviction for four counts of stealing....

Policy & Regulation

ASIC will not ignore ‘lawful’ behaviour

The Australian Securities and Investments Commission has declared that just because behaviour is lawful does not make it an excuse where consumer detriment is concerned....

Policy & Regulation

Regulators, AMP and banks next to front RC

AMP Limited and the major banks together with the regulators will be the focus of attention during the next round of Royal Commission hearings....

Financial planning

Call to exclude SMSFs from product intervention

Self-managed superannuation funds should be excluded from the product design and distribution rules, according to the SMSF Association....

Policy & Regulation

Gov puts money, confidence behind APRA chair

The Morrison Government has reappointed Australian Prudential Regulation Authority (APRA) chair, Wayne Byres, for five more years and committed $58.7 million of new fundi...

Policy & Regulation

Melbourne fin services business cops $9m penalty

A Melbourne-based financial services and credit business has been ordered by the Federal Court to pay penalties of just under nine million for multiple breaches of obliga...

Superannuation

ASFA urges Govt to expand work test exemption

ASFA is encouraging the Government to consider expanding access to the exemption from the contributions work test to individuals with a total superannuation balance under...

Superannuation

Govt signals death benefit changes

Assistant treasurer Stuart Robert has announced a plan to ensure that death benefits that include insurance proceeds are not subject to tax when rolled over to a new supe...

Policy & Regulation

Qld court appoints receiver after ASIC/US investigation

The Queensland Supreme Court has made ex parte orders regarding the Goldsky Global Access Fund, following an investigation by ASIC in which it was assisted by its America...

Life/Risk

Govt urged to drop insurance opt-in age to 21

The Federal Government has been urged to drop the minimum age for automatic insurance cover inside superannuation to 21, rather than age 25....

Superannuation

Govt extends CIPRs deadline

The Federal Government has moved to eliminate mistakes and oversights from its retirement income covenant at the same time as extending the deadline for funds introducing...

Financial planning

Dishonest adviser sent to prison

Dishonestly using his position to gain benefits in the amount of $800,000 has seen a former Gold Coast financial adviser sentenced to two-and-a-half years in prison by th...

Policy & Regulation

Standing Committee warned of “inequity” of ALP’s dividend reform

Labor’s proposed franking credits reforms are “flawed, inequitable and fail to meet the policy intent of improving the integrity of dividend imputation for all tax payers...