Treasury Laws Amendment

Superannuation

CFS urges fix for 15-year-old super choice failing

The former Howard Government never went far enough on superannuation choice in 2005 and the Government should not baulk at addressing the problem this year, according to ...

Tech

New laws to ease fintech testing

Fintechs will now have a regulatory sandbox that will allow them to test new products and services for 24 months without obtaining a financial services or credit licence....

Policy & Regulation

Govt accused of reneging on RC over default super

The Federal Government has been accused of pandering to the big banks and reneging on the recommendations of the Royal Commission by pursuing new legislation to alter def...

Policy & Regulation

Will identifier reduce multiple directorship conflicts?

The likely introduction of a Director Identification Number (DIN) next year may put paid to some controversial multiple directorship in the financial services industry....

Editorial

Ending grandfathering – advisers deserve the facts

It appears that the Government moved to end grandfathering from the beginning of 2021 without knowing the precise dimensions of the issue and without taking into consider...

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...

Financial planning

Govt locks in 1 January, 2021 end to grandfathering

The Federal Government is set to introduce legislation locking in a 1 January, 2021, date for the end to grandfathered commissions....

Superannuation

Law firm warns against further group insurance removal

The commencement date for switching off insurance inside super for low balance accounts should be deferred to 1 October, this year, according to a leading superannuation ...

Policy & Regulation

AMP signals compliance with new APRA conditions

The Australian Prudential Regulation Authority has imposed new conditions on AMP’s superannuation businesses including board renewal and removal of conflicts of interest....

Superannuation

APRA moves ahead of legislation on outcomes test

The Australian Prudential Regulation Authority has not waited on passage of Government legislation and has, instead, set new prudential requirements to support an outcome...

Superannuation

Senate reforms don’t do enough for unpaid super

Industry Super Australia has welcomed the passage superannuation reforms through the Senate this week, but warned that they don’t go far enough to remedy the problem of u...

Policy & Regulation

Lawyers argue against post-sale product intervention

The Law Council of Australia has urged the Government that it needs to amend proposed new financial product design and distribution laws to exclude intervention in produc...