Welcome to Issue 40 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. In this issue, the FSC team analyses the pilot initiative to allow life insurers to provide earlier intervention to support customers, revised APRA guidance for insurers and banks capital management and ASIC consultation on Reference Checking protocol.   Read more

Welcome to Issue 39 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry.  COVID-19 has again dominated the political landscape, with the most recent sitting of Parliament cancelled. It appears likely the next sitting period, scheduled to commence 24 August, will proceed, with Victorian-based MPs and Senators asked to quarantine for 14 days beforehand if they wish to attend.  Read more

Welcome to Issue 38 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry.  In the issue, the FSC team analyses the Government’s Economic Update, the Parliamentary Inquiry into Diversifying Australia's Trade and Investment Profile, the 2021 Exam timetable for financial advisers and the FSC's new Fund Management Board Committee.  Read more

Welcome to Issue 37 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry.  Parliament has entered the long winter recess and will not sit again until the first week of August. In the meantime, the Government is preparing its ‘Economic Update’ that will be handed down on 23 July. The update will focus on how the Government proposes to transition away from the high level of economic stimulus required by the COVID-19 pandemic.  Read more

Welcome to Issue 36 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry.  In this issue, the team analyses the ASIC Competition in Funds Management Review, the APRA Pandemic Data Collection project and the LCCC’s 2018-19 report on the life insurance industry’s compliance with the Life Insurance Code of Practice (the Code).  Read more

Welcome to Issue 35 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry.  This past week the FSC contributed to the national policy debate by releasing our Accelerating Australia’s Economic Recovery report. This has been the focal point for our discussions with the Government and the public service over the past week.  Parliament resumed on 10 June for a two-week sitting period. In addition to a measure to amend the timeline for complying with FASEA requirements, the Government also listed the ‘Your Super, Your Choice’ Bill for debate in the Senate and the ‘More Flexible Super’ Bill for debate in the House of Representatives. These bills are progressing but have not yet passed Parliament.  Read more