News Article
Key superannuation policy priorities of the new Government
Now that the Government has determined its key Ministerial appointments and gets underway with implementing its legislative agenda, it’s timely to briefly examine the three key areas of Government focus over the next year when it comes to superannuation.
Updated Guidance for Corporate Collective Investment Vehicles
ASIC released new and updated guidance for corporate collective investment vehicles (CCIVs) on 23 June. The requirements come into effect on 1 July 2022, when the CCIVs regime commences.
ASIC consultation on proposed DDO exemption for reissue of insurance policies
ASIC is conducting a targeted consultation in response to a FSC request for life insurers to be exempt from the design and distribution obligations (DDO) in certain limited situations.
Policy and Advocacy update - June 2022
It’s been just over a month since the 2022 Federal Election, with the new Albanese Government getting off to a quick start. Key Treasury Ministers have been confirmed with Treasurer Jim Chalmers, Minister for Financial Services Stephen Jones and Assistant Minister for Competition, Charities and Treasury Andrew Leigh rounding out the Treasury Benches.
Reducing the cost of providing financial advice is the key issue facing the Quality of Advice Review
With Financial Services Minister, Hon Stephen Jones, reinforcing no changes to the Terms of Reference for the Quality of Advice Review last week, one thing is clear: reducing the cost of providing advice to allow more advice on the issues consumers need and want while ensuring they are protected - is the key issue before the Review.
Making life easier for professional year candidates
Limiting the scheduling of financial adviser exams holds back professional year (PY) candidates because it takes them longer than one year to complete a professional year at a cost to both them and the licensee.
Supporting greater gender diversity
There is extensive research showing that organisations directly benefit from diversity in a range of ways; diversity of thought, improved decision making, new innovation and better financial performance. Yet the data around organisational diversity is not at desired levels.
Updating the FSC investment management agreement
The FSC continues work on updating the FSC investment management agreement (IMA). The FSC is continuing dialogue with members and legal counsel what some of the key changes and updates are likely to be.
Australian Superannuation and Infrastructure Investment Vehicle
It’s almost thirty years to the day marking Australia’s transformation into a nation of compulsory savers with the introduction of the superannuation guarantee. From humble beginnings, our superannuation system is now the fourth largest pension system in the world.
Quality of Advice Review - limited advice
A regulatory framework that empowers consumers to get limited advice on simple or basic issues is the key outcome the FSC seeks from the Quality of Advice Review.
Regulating crypto in Australia
More than 800,000 Australians have transacted in digital assets over the past three years. However, due to regulatory uncertainty, growth in retail investment in digital assets has led to concerns that retail consumers are without adequate consumer protections.