441-450 of 994 results
Designing effective remediation programs
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 ...
Regulating bonuses: will Australia be next?
The UKs Financial Conduct Authority and Prudential Regulation Authority released rules in June this year to further tighten what are already fairly onerous restrictions on the payment of bonuses to staff in banks building societies and certain big investment firms The worlds financial regulators ...
ASIC's no action position on the wholesale/retail test for self-managed super funds
The Australian Securities and Investments Commission has announced that it will take no action where a self-managed superannuation fund trustee is treated as a wholesale client notwithstanding that the trustee does not have to meet the 10 million net asset threshold even though the financial service ...
AFCA's powers and obligations - 'systemic issues'
In his Interim Report, Commissioner Hayne rejected claims that misconduct in the financial services sector was the fault of 'a few bad apples' and did not raise 'broader or systemic concerns. This Insight considers what can and should be done about such systemic issues. ...
Allens advises GPT Group on $325 million capital raising
Allens has advised the GPT Group on its $325 million capital raising and the redemption of its Exchangeable Securities from GIC. GPT raised the funds to redeem the exchangeable securities, which ha ...
Defining the objective of superannuation
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 ...
Improving accountability and member outcomes in superannuation?
The Federal Governments proposed new superannuation legislation imposes significant new obligations on RSE licensees and could have a material effect on shareholders The Allens Superannuation team reports on the key changes ...
Running out of time for retirement income reform
The Government has released a consultation paper on the regulation of retirement income streams It says that the Government wants to encourage the development of more retirement products But this is old news and the paper offers few concrete policy proposals other than in the area of deferred ...
Life insurance, conflicted remuneration and commissions
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 ...
Foreign purchaser stamp duty surcharge about to start in Queensland
From 1 October 2016 a stamp duty surcharge of an additional 3 per cent will apply when a foreign person acquires residential land in Queensland Affected taxpayers should therefore urgently consider whether contracts relating to potentially affected transactions can be exchanged in the next few days ...