Insurance – Claims Handling Exemption Recommendation 4.8 – End 2019Removal of claims handling exemption for insurance Insurance – Deferred Sales Model Recommendation 4.3 – June 2020Deferred sales model for add-on insurance Insurance – Misrepresentation Recommendation 4.5 – June 2020Duty to Read More …
Tag: end
F – H
Financial Advice Annual Renewals Recommendation 2.1 – June 2020Annual Renewal and Payment for Financial Advice Financial Adviser Grandfathered Commissions Recommendation 2.4 – End 2019Ending grandfathered commissions for financial advisers (Legislation introduced on 1 August 2019) Financial Adviser Independence Recommendation 2.2 Read More …
B – E
BEAR – Financial Institutions Recommendation 6.8 – End 2020Extending the BEAR to all APRA‑regulated financial services institutions BEAR – Insurers Recommendation 4.12 – End 2020Extending the BEAR to APRA‑regulated insurers BEAR – Joint Administration Recommendation 6.6 – End 2020Joint administration Read More …
A
Advice Fees – Choice Super Recommendation 3.3 – June 2020Limitations on deducting advice fees from choice superannuation accounts Advice Fees – My Super Recommendation 3.2 – June 2020No deducting advice fees from My Super accounts ASIC and APRA – Oversight Read More …
End 2020
BEAR – Regulated Financial EntitiesAdditional CommitmentExtension of the executive accountability regime to non-prudentially regulated financial entities to be administered by ASIC. Financial Advisor Disciplinary SystemRecommendation 2.10A new disciplinary system for financial advisers BEAR – RSERecommendation 3.9Extending the Banking Executive Accountability Read More …
APRA
Recommendation 1.12 – Valuation of land On 25 March 2019, APRA released for public consultation proposed revisions of Prudential Standard APS 220 Credit Quality. Consultation closed on 28 June 2019. APRA intends to finalise the standard in the second half Read More …
ASIC
Recommendation 2.5 – Life insurance commissions review ASIC will include the factors identified by the Royal Commission in undertaking its post implementation review of the 2017 life insurance reforms. ASIC’s review will take place in 2021. Recommendation 6.2 – ASIC’s Read More …
By End 2020
Legislation to be consulted on and introduced by end-2020
End 2019
Legislation to be consulted on and introduced by end-2019
3.5 — One default account
A person should have only one default account. To that end, machinery should be developed for ‘stapling’ a person to a single default account. Government Response The Government agrees that a person should have only one default account. This also Read More …