News : Regulation

Regulation

Stalled legislation should trump royal commission

The banking royal commission recommendations should not be rushed through Parliament, which still has to deal with stalled legislation, claims the FSC.

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Regulation, Retirement

Franking credit campaign ‘misrepresentations’ addressed

SMSF; review; industry fund

The head of Wilson Asset Management has rejected claims he has formal ties to Liberal MP Tim Wilson, despite both campaigning against the removal of franking credit refunds.

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Regulation

Compensation scheme of last resort praised

A major SMSF administration service provider has lauded the banking royal commission’s recommendation for a compensation scheme of last resort.

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Accounting, Regulation

Time to review licensing necessity

The head of an industry body has recommended accountants review their service propositions to determine if operating under a licence and complying with FASEA are necessary.

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Education, Regulation

FASEA tweaks questions in finalised adviser exam

Changes to questions relating to tax and the length of reading time are the only adjustments made by FASEA in its finalised adviser Examination Standard.

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Investments, Regulation

Royal commission has not affected sector view

The royal commission’s findings have not swayed the investment views of an international manager regarding Australia’s bank and finance sector.

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Regulation, Strategy

SMSF specialist warns of super changes ahead

Accountants need to take heed of Labor’s proposed changes to super and consider how they can optimise their clients’ SMSFs now.

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Financial Planning, Regulation, Superannuation

RC unconvinced on advice model revamp

The banking royal commission’s final report has not called for the structural separation between product and financial advice, stating it would be costly.

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ASIC, Regulation

RC calls for individual rego, new disciplinary body

Advisers should be individually registered and subject to a new, powerful, single disciplinary body, according to the banking royal commission.

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Regulation

Govt to create compensation scheme of last resort

The federal government will create a compensation scheme of last resort after the banking royal commission added its support to the Ramsay review’s call for its creation.

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