ASIC has today announced that superannuation fund trustees and responsible entities will have until 1 October 2017 to comply with the updated fee and cost disclosure rules for PDSs set out in ASIC Regulatory Guide 97 and ASIC Class Order 141252 - but only if they comply with certain conditions ...

Treasury released a paper seeking feedback on a framework for Comprehensive Income Products for Retirement. It will permit trustees to offer members on a 'soft default' basis 'mass-customised, composite retirement income products' and, to encourage trustees ...

ASIC issued Regulatory Guide 256 Client review and remediation conducted by advice licensees late last week In short RG 256 says an Australian financial services licensees duty to provide financial services efficiently honestly and fairly means they have to take responsibility for the consequences ...

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 ...

Along with the public release of the ASIC Capability Review Report the Government announced a suite of reforms giving ASIC additional but targeted funding and has also sought to remove some of the shackles on hiring it believes may be hindering ASICs ability to recruit top talent At the same time ...

A recent Federal Court appellate decision highlights the fundamental tension in the Corporations Act between shareholders power to propose resolutions at members meetings and the proposition that a company is to be managed by its Board of directors ...

Allens has written over the course of this year, the Royal Commission will bring and in fact already has brought monumental changes both in how banks are regulated and to the actual laws that apply ...

The Australian Financial Complaints Authority AFCA the new one-stop-shop for resolving financial complaints has had a very busy first six months of operation ...

After extensive consultation the Corporations Amendment Asia Region Funds Passport Bill was introduced into Parliament delivering on Australia's commitment as set out in the Asian Region Funds Passports Memorandum ...

Many of you will be familiar with the long and tortured history of fees and costs disclosure regulation in Australia. The most recent set of issues can be traced back to 2014 when ASIC tried to address what it considered to be gaps in and inconsistent application of the former regime ...