721-730 of 1053 results
What does 1 July 2014 mean under FoFA?
For most people working in the financial services industry it would be unwise to let 1 July come and go without asking what will change In 2014 as in 2012 and 2013 1 July is a very significant date under FoFA the Future of Financial Advice ...
Increasing ASIC's enforcement powers
In its submission to the Financial System Inquiry the Australian Securities and Investment Commission has again raised the issue of the penalties that are available to it to punish and deter corporate wrongdoing ASICs submission recommends that a holistic review be conducted into the availability ...
Can product suitability rules succeed where disclosure has failed?
One of the more interesting possibilities raised in the Interim Report of David Murrays Financial System Inquiry is the introduction of product suitability requirements as a complement to the current disclosure regime The Interim Report presents a case for change but does not set out in detail what ...
Opportunities for financial services from the China-Australia FTA
The Australian and Chinese governments recently announced the conclusion of negotiations on the China Australia Free Trade Agreement According to DFAT Chinas financial services commitments under the agreement represent one of the most substantial market access undertakings China has agreed to with ...
Bigger sticks, smaller budget: ASIC's enforcement in 2015
In 2014 the Australian Securities and Investments Commission ASIC was chastened by the Senate Economics References Committee which wants ASIC to be more effective but encouraged by the Financial System Inquiry which wants ASIC to take on greater powers Meanwhile the Federal Government has reduced ...
What do smoked fish have to do with retirement incomes?
The final report of the Financial System Inquiry recommended that APRA-regulated superannuation trustees be required to offer a comprehensive income product for retirement This rather modest recommendation in the final report stands in stark contrast to the retirement phase policy options canvassed ...
The fiduciary duty of mortgage brokers?
There is lots of noise about the duties of financial advisers and lawyers including us love to debate whether FoFA has left any room for fiduciary obligations ...
Taxation of certain unit trusts - 'attribution' model to replace 'present entitlement'
You may be forgiven for having lost track of the proposed reforms to the taxation of managed investment trusts or MITs given that this initiative has been announced by successive Federal governments since 2010 Finally though an exposure draft of new legislation is expected to be released before ...
Productivity Commission's report on superannuation - an odd mix of recommendations
The Productivity Commission's report on superannuation has provided an odd mix of reccomendations ranging from uncontroversial to outright bizarre, Senior Regulatory Counsel Michael Mathieson writes. ...
ASIC consultation on fees and costs disclosure reform following expert review
Its been a long five years or so of amendments to and consultation on the fees and costs disclosure regime for superannuation and managed investments products And industry might be forgiven for feeling a sense of dj vu with the release earlier this year of ASICs consultation paper on the regime ...