News : Regulation

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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Regulation, Superannuation

Early release of super second consultation begins

Treasury has released an issues paper with findings and draft proposals for reform of the rules governing the early release of superannuation benefits on compassionate and severe financial hardship grounds.

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Regulation, Retirement, Tax

Franking ban threatens retirement system

Pink Piggy bank money concept on dark blue background

The proposed policy to scrap refundable franking credits undermines the core principles of Australia’s retirement system, a House of Representatives Standing Committee on Economics hearing into the proposal was told yesterday.

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Regulation, Retirement, Superannuation

Franking policy removes SMSF control, choice

The Labor Party’s proposed policy to ban excess franking credits will diminish the control and choice of SMSF trustees and members, a House of Representatives Standing Committee on Economics hearing into the proposal was told today.

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Investments, Regulation, Retirement

Imputation credit policy carries currency risk

The Labor Party’s proposal to scrap imputation credit cash refunds will encourage Australian investors to invest globally, hence increasing currency risk, a fund manager has warned.

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