Articles tagged with 'Royal Commission'
14 August 2019 - ANZ Banking Group chief executive Shayne Elliott has called for more clarity on responsible lending obligations, stating risk aversion has "infected" the banking system.
21 March 2019 - Australian research has shown a disconnect between what clients are prepared to pay for risk advice and what advisers would need to charge – and commentators say the same situation would be found in New Zealand.
18 March 2019 - The Australian mortgage adviser trade body the MFAA has welcomed the government's decision to soften its stance on trail commission.
13 March 2019 - The Australian government has delayed plans to ban trail commission from next year, saying it will review the issue in three years' time instead.
7 March 2019 - New Zealand’s big four banks have given their support to mortgage advisers in the wake of Australia’s Royal Commission into financial services.
22 February 2019 - Australian advisers have received an unlikely boost in their fight against remuneration reforms proposed by the Royal Commission. The Australian Labor Party has withdrawn its support for a fee-for-service model and has instead proposed a flat, lender-funded fee.
15 February 2019 - The Financial Markets Authority and Reserve Bank's damning review of conduct and culture in the insurance industry will a "clear impact" on mortgage advisers as regulatory scrutiny heats up for advisers, says Newpark Home Loans boss Andrew Scott.
13 February 2019 - Australian Prime Minister Scott Morrison has defended the mortgage advice industry, calling it a "pretty important service", as the country deals with the fallout from the Royal Commission.
13 February 2019 - New Zealand’s banks made a bumper $5.77 billion profit last year, but could be forced to push up mortgage rates because of the Reserve Bank’s capital adequacy proposals, says KPMG.
13 February 2019 - New Zealand’s fund management sector has more competitive offerings than the Australian market – and less to worry about as regulators crack down.
7 February 2019 - Shockwaves are running through Australia’s finance industry following the Royal Commission’s damning report so how could the recommendations impact on New Zealand investors?
5 February 2019 - New Zealand mortgage advisers have expressed their disappointment at recommendations from Australia's Royal Commission, including bans on commission and a possible move to a fee-for-service model.
5 February 2019 - The Australian Royal Commission will reshape the financial services industry and has significant implications, Harbour Asset Management says. The report has already had strong political support.
5 February 2019 - The Australian Treasury has moved to implement recommendations made in yesterday's Royal Commission report, including banning trail commission and the possibility of a fee-for-service model for mortgage advisers.
5 February 2019 - If financial advisers needed any further proof that change is on the horizon, the report of the Australian Royal Commission into Misconduct in the Banking, Superannuation and Financial Advice sectors has delivered it.
4 February 2019 - The final report from Australia's Royal Commission has called for a sweeping overhaul of mortgage adviser pay, including banning commission from lenders and making customers pay a fee for service.
31 January 2019 - The final report from Australia's Royal Commission into the financial services sector is due to be published on Monday afternoon.
7 January 2019 - Dr Deen Sanders, the ex-CEO of Australia's Financial Adviser Standards and Ethics Authority, predicts pressure on Australian mortgage adviser fees will have a "flow-on" effect to New Zealand.
11 December 2018 - Following a wave of criticism in the Royal Commission, Australian mortgage advisers have launched a fightback against industry reform.
20 November 2018 - ASB has played down speculation it will follow owner CBA by supporting a fee-for-service model for mortgage advice, following comments made by CBA CEO Matt Comyn to the Royal Commission this week.
19 September 2018 - ROYAL COMMISSION AMP in Australia charged nearly A$1 million in life insurance premiums to superannuation scheme members it knew had died, the Australian Royal Commission as been told.
22 August 2018 - Five non-bank lenders have clubbed together to run a speed dating event for mortgage advisers in Auckland.
22 June 2018 - Regulators say the joint Financial Markets Authority and Reserve Bank review of conduct and culture in the New Zealand banking sector is progressing rapidly.
18 June 2018 - [UPDATED] National says the New Zealand response to the Australian Royal Misconduct into Misconduct in the Banking, Superannuation and Financial Services Industry has been appropriate - but there's more the government could be doing to ensure banks are behaving.
30 May 2018 - Commerce Minister Kris Faafoi says there has been no evidence of systemic problems in financial services in this country but it is appropriate that regulators review the sector.
24 May 2018 - The FMA and the RBNZ have sent the letter below to the chief executives of New Zealand’s licensed life insurers
10 May 2018 - Fallout from Australia’s Royal Commission of Inquiry into Misconduct in the Banking, Superannuation and Financial Services Industry is likely to lead to more focus on compliance in New Zealand – but will create an opportunity for independent advisers.
2 May 2018 - It is not enough for the big banks to simply say that New Zealand is different to Australia – they’ll need to explain how, the Financial Markets Authority’s chief executive has said.
2 May 2018 - ANZ New Zealand chief executive David Hisco sees no need for a Royal Commission in New Zealand.
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