The SMSF Association is urging the introduction of a spousal rollover measure for superannuation fund members that would allow individuals with higher superannuation balances to rollover a portion of their superannuation balance to their spouse to help even out balances. In its 2019-20 Budget submission, the Association says the gender retirement gap is an ongoing […]
continue readingThe Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and Finity Consulting are pleased to announce the winner of the 2019 Peter Corrigan Scholarship for Innovation and Leadership. Michael Gregory, Manager, Portfolio Planning at Suncorp has been awarded the 2019 Peter Corrigan scholarship for a video submission outlining his innovative, data-driven approach to CTP insurance […]
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14
Feb
2019
The Association of Financial Advisers (AFA) recognises the importance of the Royal Commission process and the primary focus upon the delivery of improved consumer outcomes, however objects to a number of the key recommendations relating to financial advice. AFA Chief Executive Officer, Philip Kewin, said that while restoring trust has been an overriding theme for […]
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11
Feb
2019
The final report of the Financial Services Royal Commission has detailed critical reforms that should lay the groundwork for a more professional and trusted financial advice sector, says SMSF Association CEO John Maroney. “Justice Kenneth Hayne has identified some significant areas for reform to ensure that not only do Australians consumers get better-quality financial advice, […]
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08
Feb
2019
The Board of The Banking and Finance Oath (The BFO) welcomes Commissioner Hayne’s focus on honesty and individual accountability in the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. In the Report, Commissioner Hayne emphasises the need for institutions and staff in the financial services industry to […]
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07
Feb
2019
The Actuaries Institute welcomes the final report from the Royal Commission into Australia’s banking, superannuation and financial services sectors. The Royal Commission, which received more than 10,000 submissions, has revealed significant problems that must be addressed across banking, insurance and superannuation. “The Institute fully supports the cultural change that has been advocated by the Royal […]
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07
Feb
2019
FINSIA CEO Chris Whitehead said “While it will be some time for all the ramifications of the Royal Commission recommendations to filter through, FINSIA is committed to helping implement reform in a timely and effective manner. “It is clear he has concluded the core issues are: Cultural reform Stronger enforcement Eliminating conflicted remuneration models “We recognise there will be significant […]
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06
Feb
2019
The SMSF Association remains steadfast in its opposition to any “outright ban” of Limited Recourse Borrowings Arrangements (LRBAs). In its nine-page submission to Treasury for the Council of Financial Regulators’ review of LRBAs, the Association says it does not believe “LRBAs are creating systemic risk in the SMSF sector or broader superannuation sector and that […]
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04
Feb
2019
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