ASIC has released a report looking at the way vertically integrated funds management businesses deal with conflicts of interest The report summarises the findings of ASICs recent review of a number of businesses and sets out some good practice recommendations Partner Marc Kemp and Senior Associate ...

The Government released a discussion paper on the Objective of Superannuation today The paper says that the Government will enshrine in legislation the primary objective recommended by the Financial System Inquiry being To provide income in retirement to substitute or supplement the Age Pension ...

Late last year APRA released the implementation schedule for its long-awaited Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives ...

Earlier today Treasury released exposure draft regulations for Innovative Superannuation Income Streams They set out income stream standards that will be relevant for products such as deferred annuities and group self-annuitised products The Allens Superannuation team reports ...

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 ...

Last week the Federal Government moved another step closer to implementing an industry funding model for the recovery of ASICs costs by introducing the ASIC Supervisory Cost Recovery Levy Bill 2017 as well as two related Bills into Parliament These Bills implement the recommendations of the ...

As part of its ongoing efforts to improve the domestic banking sectors accountability the Federal Government recently announced a series of measures to join the ongoing global push seeking to improve measures for individual accountability for misconduct The proposed Banking Executives Accountability ...

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 ...

ASIC Report 529 Member experience of superannuation released just a day before the Productivity Commission officially sets its sights on assessing the state of the superannuation system serves as a timely reminder of the ever-increasing expectations of the conduct and disclosure practices of ...

There has been a great deal of attention given to the meanings of financial product advice and personal advice in the Corporations Act and many of us are eagerly waiting to see what Justice Gleeson will say about the topic in the case ASIC has brought against the BT trustees. ...