Today 1 July sees the implementation of changes to the fee and cost disclosure rules for superannuation and managed investment products While a new information sheet from ASIC provides guidance on certain aspects of the new rules superannuation trustees have been left to grapple largely unaided with ...

Two important pieces of draft legislation under Federal consideration are how employers deal with historical superannuation contribution shortfalls, and the possible requirement of employers to report on modern slavery risks and practices in their workforce and supply chains. ...

Several changes relevant to employers took effect on 1 July 2018, including in relation to minimum rates of pay, the high income threshold, the superannuation maximum contribution base and penalty rates in certain industries. Separately, WA has moved a step closer to a modernised Work Health and Saf ...

As fertile ground for class actions the Royal Commission has highlighted an ongoing problem with Australia's class action regime - there is no clear consistent means for resolving competing class actions. ...

ASIC has recently announced a new supervisory approach that involves embedding ASIC officers in the four major banks and AMP ...

The recent case of ASIC v NSG Services Pty Ltd considers the FoFA best interests and appropriate advice provisions, as well as obligations of licensees. While the facts of the case provide an extreme example of how advisers and licensees can fail to comply with these duties, it also provides some us ...

A consultation paper on the BEAR has been released confirming the Federal Governments intention to impose an executive accountability regime on banks and their subsidiaries that follows important elements of current international accountability regimes You have three weeks to provide your comments ...

The Senate Economics References Committee is conducting an inquiry into the regulatory framework for the protection of consumers in the banking insurance and financial services sector ...

We recently hosted some workshops in Sydney and Melbourne to discuss the proposed CIPR framework The outcomes of those workshops were interesting - in some respects surprising - and this article provides a brief report ...

APRA is in line to get significantly increased powers of direction in respect of RSE licensees and their controlled entities as part of the package of superannuation reforms announced in the Treasury Legislation Amendment Improving Accountability and Member Outcomes in Superannuation Bill 2017 ...