News : Regulation

ASIC, Compliance, Regulation

ASIC restructure netting results

The number of investigations and civil proceedings has increased significantly after a revamp of the staff structure within ASIC.

The number of investigations and civil proceedings has increased significantly after a revamp of the staff structure within ASIC.

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financial advice, Financial Planning, Regulation

DBFO has failed its objectives

The Financial Advice Association Australia has labelled the government’s response to the Quality of Advice Review to date as frustrating.

The Financial Advice Association Australia has labelled the government’s response to the Quality of Advice Review to date as frustrating.

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Division 296, Legislation, Regulation, Tax

Old claims can’t justify Div 296 start

Two-year-old arguments from the government are not sufficient justification to implement the proposed Division 296 tax or backdate its commencement.

Two-year-old arguments from the government are not sufficient justification to implement the proposed Division 296 tax or backdate its commencement.

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Compliance, financial advice, Financial Planning, Regulation

CSLR needs accountability element

Accountability for claims lodged using the Compensation Scheme of Last Resort is required for this consumer program to function properly.

Accountability for claims lodged using the Compensation Scheme of Last Resort is required for this consumer program to function properly.

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Compliance, Regulation, Superannuation

One-for-one EPOA selection not needed

An individual appointed as an enduring power of attorney for an SMSF is not limited to act on behalf of only the fund’s trustees.

An individual appointed as an enduring power of attorney for an SMSF is not limited to act on behalf of only the fund’s trustees.

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financial advice, Financial Planning, Regulation

Fragmented framework needs reform

The regulatory framework for advice needs reform so consumers do not have to use multiple practitioners to meet their needs.

The regulatory framework for advice needs reform so consumers do not have to use multiple practitioners to meet their needs.

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Division 296, Legislation, Regulation, Tax

Uncertainty over super tax continues

Speculation over the Division 296 tax measure is continuing as to its progression and whether the government will keep pursuing it.

Speculation over the Division 296 tax measure is continuing as to its progression and whether the government will keep pursuing it.

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Compliance, financial advice, Financial Planning, Regulation

FSC welcomes CSLR levy consultation

Financial Services Council, FSC, Financial Services Minister, Daniel Mulino, Treasury, consultation paper, Compensation Scheme of Last Resort, CSLR, Blake Briggs

The Financial Services Council has applauded the government’s decision to enter a consultation process with regard to the funding of the Compensation Scheme of Last Resort in the immediate future.

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Compliance, Regulation, SMSF, Superannuation

Super gatekeeping needs reform

self managed super, self managed super fund, self managed super funds, self managed superannuation, SMSF, superannuation, platforms, ASIC, Joe Longo, Shield Master Fund, First Guardian Master Fund, regulations

The corporate regulator is worried bad actors, sometimes using SMSF structures, could undermine trust in Australia’s superannuation system.

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ECPI, Pensions, Regulation

Failed pension process not logical

The process to rectify a pension that has not made minimum payments is difficult and will require multiple steps to achieve.

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