101-110 of 512 results
Changes to Regulatory Guide 256
ASIC has released a first-round consultation paper on proposed changes to Regulatory Guide 256: Client Review and Remediation Conducted by Advice Licensees. The proposed changes are substantial, and will apply to new entities including super fund trustees. ...
Coming clean and staying clean: continuous disclosure obligations in the age of the data breach
Recent data, coupled with the Privacy Act 1988 notifiable data breaches scheme, APRA Prudential Standard CPS 234, the Security of Critical Infrastructure Act and the GDPR, confirm that when it comes to serious cyber security breaches, listed entities should be complying with existing continuous disclosure requirements. ...
Insurance sector reform under the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020
After several months of delay due to COVID-19, the Bill implements a large number of the Hayne Royal Commission recommendations, and in particular picks up several of the recommendations that are aimed at reforming the insurance sector. ...
A 'single default account' - your superannuation follows you
The exposure draft legislation released yesterday for a 'single default account' aims to limit 'the creation of multiple superannuation accounts for employees who do not choose a superannuation fund when they start a new job'. ...
Your guide to the 'Your Future, Your Super' package reforms
Consultation is now open on the Government's 'Your Future, Your Super' package. As foreshadowed on Budget night, the package seeks to make three key changes to the current superannuation regulatory regime. ...
Key components and changes to the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020
Webinar: Key components and changes to the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 ...
Retirement Income Review
Our key takeaways from the Government's Retirement Income Review (with a focus on the superannuation implications). ...
APRA's revised Prudential Standard CPS 511 on remuneration frameworks and incentives for ADIs, superannuation funds and insurers
After 17 months of consultation and internal review, APRA has released its revised draft prudential standard on remuneration (CPS 511) seeking to regulate incentive structures across all APRA-regulated entities. ...
Government introduces the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020
The government yesterday introduced into Parliament the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 to implement a large number of the Hayne Royal Commission recommendations. Many provisions have a start date of 1 January 2021, and some don't have a transition period. ...
Act fast, act well: Federal Court decision reinforces the importance of robust compliance programs for banks and other financial services licensees
Chief Justice Allsop of the Federal Court recently imposed on a bank, by consent of ASIC and the bank, civil penalties totalling $10 million for unconscionable conduct in carrying out an inadequate customer remediation process. It highlights the importance of banks and other financial services licensees having in place robust compliance programs and taking prompt and comprehensive action where possible non-compliance is identified. ...