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Life insurance remuneration draft regulations released
Insight 13 Apr 2016

The Government has released an exposure draft of the Corporations Amendment Life Insurance Remuneration Arrangements Regulations 2016 The draft regulations provide some further detail to support the implementation of the Corporations Amendment Life Insurance Remuneration Arrangements Bill 2016 which ...

Life insurance, conflicted remuneration and commissions
Insight 03 Nov 2016

The Bill to amend the conflicted remuneration provisions in the Corporations Act for life insurance has been introduced into Parliament a second time and draft regulations have been released for comment However we struggle to know how to describe them because the changes seem to have conflicting ...

Designing effective remediation programs
Insight 19 Sep 2016

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 ...

Statutory priority of secured creditors and trustee insolvency: implications of Re Amerind appeal decision
Insight 13 Mar 2018

Implications of Re Amerind appeal decision has been widely welcomed by insolvency practitioners and others, as it brought some clarity to the question of whether the statutory order of priority applies to trust creditors. ...

Infrastructure investment in Australia - the road ahead for institutional investors
Insight 11 Dec 2017

With large-scale privatisations slowing and intense competition for assets that do come to market institutional investors are looking to non-traditional assets to provide similar long-term stable and predictable returns ...

Move to require big banks' participation in comprehensive credit reporting
Insight 23 Feb 2018

The Federal Government has introduced draft legislation to establish a long-awaited mandatory comprehensive credit reporting regime for the major banks from 1 July 2018 Partner Gavin Smith Senior Associate Emily Cravigan and Lawyer Dougald Coulson report ...

Financial advice - vertically integrated institutions and conflicts of interest
Insight 25 Jan 2018

ASIC has released its report on financial advice provided by vertically integrated institutions which is likely to be read with great interest by Commissioner Hayne and his team Senior Regulatory Counsel Michael Mathieson and Partner Michelle Levy report ...

ASIC's enforcement decisions - is litigation the most effective deterrent?
Insight 02 Sep 2014

We have previously reported on ASICs submission to the Financial System Inquiry FSI and in particular its assertion that it needs a broader range of more onerous financial penalties in order to punish and deter corporate wrongdoing ASIC made similar submissions to the recent inquiry by the Senate ...

Some facts (and myths) about ASIC and product intervention powers
Insight 01 Oct 2014

The closer you look at the recent discussion about product intervention powers for ASIC the clearer it becomes that the discussion has little basis in fact ...

Risk management - what, if anything, does the 'three lines of defence' model do?
Insight 05 Nov 2014

From 1 January 2015 a new common risk management prudential standard will apply to banks general insurers and life companies and in many cases to other companies in the corporate groups in which those institutions sit Michael Mathieson looks at the three lines of defence model that APRA proposes to ...

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