News : Regulation

Pensions, Regulation, Retirement, Superannuation

ALP policy a big stick that will be felt by all

A quiet storm is brewing around Australia’s retirees as the Labor Party begins its federal election funding promises. And if people aren’t awake to this storm, and if the polls prove to be right about a change of government, then retirees can expect less pension income and everyone else will likely see a hike in superannuation fees.  

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Investments, Regulation, Retirement

Labor policy to hit women, economy, govt revenue

Wilson Asset Management chief investment officer Geoff Wilson has used his statement to a House of Representatives Standing Committee on Economics hearing as part of its inquiry into the implications of removing refundable franking credits to highlight the negative impact the proposed policy will have on women, the greater economy and forecast government revenue.

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Education, Regulation

SMSFA pushes for more FASEA RPL inclusions

The SMSF Association is lobbying the Financial Adviser Standards and Ethics Authority (FASEA) for its professional designations and specialisation courses to be included as recognised prior learning (RPL) elements in its educational requirements for existing financial advisers.

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Investments, Regulation

Bennelong positioning itself for market shift

Bennelong Funds Management is in the process of adding a range of boutique investment house offerings to its stable in anticipation of providing individuals with viable alternatives should there be a significant market shift resulting from the Labor Party proposal to ban imputation credit refunds in certain circumstances.

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Accounting, Regulation

Substance of advice requires greater focus

The accounting profession must place greater importance on substance over form within the framework of the new licensing regime, an industry executive has said.

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ASIC, Regulation

Firms reminded of AFCA membership

The Australian Securities and Investments Commission (ASIC) has reminded financial firms that are members of the Australian Financial Complaints Authority (AFCA) to notify the regulator of their AFCA membership by 30 November or face late fees.

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Accounting, Education, Financial Planning, Regulation

Limited licensees urged to register

The impending Financial Adviser Standards and Ethics Authority (FASEA) deadline has caused confusion among accountants with a limited licence, mainly that they will need to be on the adviser register.

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Regulation, Retirement, Superannuation

Aust shares still favourable under ALP policy

The Labor Party’s proposal to scrap excess imputation credit funds will not result in an immediate shift in SMSF portfolios as premium yields on Australian stocks will still be powerful enough to attract investors, according to Ausbil.

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Regulation, Retirement, Superannuation

Franking credit policy will shake tax neutrality

The federal opposition’s franking credit proposal will disrupt tax neutrality in the superannuation industry should it become policy, SuperConcepts has warned.

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Accounting, Financial Planning, Regulation

New licensing framework recommended

FASEA adviser exam results

The SMSF Association and industry bodies must work together to formulate a new licensing framework for advice practitioners within the context of the large unmet advice gap, an industry executive has said.

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