Royal Commission

Financial planning

Millennials spending less due to political turmoil, survey shows

Nearly half of millennials are spending less than six months ago and considering changes to their investment strategy due to ongoing political unrest and the Royal Commis...

Financial planning

FASEA faces post-RC questions

Amid Federal Opposition calls to extend the Royal Commission real questions are being asked about key elements of the Financial Adviser Standards and Ethics Authority reg...

Policy & Regulation

Institutions “fall far short” in honest treatment of Australians: Treasurer

The interim report and the Royal Commission's hearings clearly show that some financial institutions have fallen far short of treating Australians honestly and fairly, ac...

Policy & Regulation

RC interim report shames ‘dishonest’ and ‘greedy’ industry

The Royal Commission interim report has highlighted dishonesty and greed as two recurring themes in the financial advice industry....

Policy & Regulation

Regulators failed to stop misconduct: Hayne

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has slammed the industry regulators for failing to sufficiently punish...

Policy & Regulation

Hayne slams fees for no service in RC interim report

The Royal Commission interim report has shone a light on the poor culture of licensees, particularly when it comes to charging fees for no service. ...

Financial planning

Royal Commission flags fees and regulatory failings in report

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has highlighted a toxic sales culture and a failure to regulate wrongd...

Policy & Regulation

Licensees, not planners face RC-imposed changes

Financial services licensees rather than individual planners are facing the most change likely to result from the preliminary findings of the Royal Commission into Miscon...

Life/Risk

AMP faces pressure on corporate super

At least four of AMP’s corporate superannuation clients are in the process of reviewing their arrangements in the wake of successive rounds of hearings before the Royal C...

Policy & Regulation

Frydenberg cites fees for no service as RC take-out

The Federal Treasurer, Josh Frydenberg, has cited fees for no service and the failures of the regulators as being among his Royal Commission take-outs....

Life/Risk

Insurers on notice on inflicting psychiatric injury

Life/risk insurers have been placed on notice that the Royal Commission may recommend measures to hold them responsible for psychiatric injury inflicted on clients by cla...

Policy & Regulation

ISA pulls ‘fox in the henhouse’

Industry Super Australia has reportedly pulled its ‘fox in the henhouse’ advertising just weeks after funding was questioned during the Royal Commission into Misconduct i...

Life/Risk

Industry fund files post-RC breach report with ASIC

Industry superannuation fund REST has filed a breach report with the Australian Securities and Investments Commission after admitting to failings during the Royal Commiss...

Life/Risk

FSC faces questioning on enforceability of Code of Practice

The Royal Commission has raised the issue of the enforceability of the life insurance code of practice, with the Financial Services Council facing tough questions on whet...

Life/Risk

Do insurers pay to influence advice?

Financial Services Council chief executive, Sally Loane, has admitted to the Royal Commission that insurers effectively pay for their products to be sold by advisers....