Senate Economics Legislation Committee

SENATE ECONOMICS LEGISLATION COMMITTEE

Financial planning

Senate committee recommends passage of DBFO legislation

The Senate economics legislation committee has recommended Schedule 1 of the Delivering Better Financial Outcomes legislation be passed as it is a “faithful implementatio...

Financial planning

1 year on since QAR: What’s changed?

As the FAAA and FSC prepare to appear before the Senate economics committee today to discuss the QAR, the date coincides with one year since the government published its ...

Financial planning

ASIC inquiry delayed after regulator defies evidence orders

ASIC has been accused of treating parliament with contempt after failing to follow Senate orders to submit evidence to the Senate Economics Reference Committee....

Superannuation

Govt warned on choice of super unintended consequences

UniSuper has warned that its members will have to foot the bill unless the Government takes account of the unique nature of defined benefit schemes in its changes to choi...

Policy & Regulation

FPA backs key superannuation bill

Unscrupulous employers who use their employees’ salary sacrifice superannuation contribution to reduce their superannuation guarantee obligations should be stopped, accor...

Editorial

Folly in the Govt’s rush on insurance inside super legislation

There is already a good deal of confusion about the Government’s recent legislative efforts around insurance inside superannuation meaning that it should accede to indust...

Superannuation

Keep insurance for low super accounts urges consumer groups

The Consumer Action Law Centre and the Financial Rights Legal Centre have reacted to the Treasury Law Amendment (Putting Members’ Interests First) Bill 2019 by stating th...

Policy & Regulation

Banks defend vertical integration

The Australian Banking Association has defended vertical integration and the ability of the major banks to self-regulate when it comes to ‘simplifying’ such structures....

Financial planning

Planners should be answerable on products, says ISA

Industry Super Australia has objected to exempting personal financial advice from product design and distribution obligations, arguing planners need to be held responsibl...

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

We won’t be captured, says ASIC chairman

New Australian Securities and Investments Commission chairman, James Shipton has vowed to eliminate the circumstances where the regulator can be perceived to have been ca...

Policy & Regulation

Call to exclude defined benefit super from product intervention

A major industry superannuation fund has called for defined benefit funds to be excluded from the Government’s proposed new product intervention powers for the Australian...

Superannuation

AIST reaffirms call for Protecting Your Super amendments

The Australian Institute of Superannuation Trustees has reiterated its call for key amendments to the Protecting Your Super legislation, which followed a Senate Economics...

Superannuation

More warnings of unintended insurance consequences

The Parliament has received another warning of the major unintended consequences flowing from the Government’s legislative changes impacting insurance within superannuati...

Financial planning

Advised life beats group, claims ClearView

All group life insurance should be “opt-in” according to ClearView managing director, Simon Swanson, in circumstances where the “cheapness” of group can be illusory....