Treasury will review the current rules governing the early release of superannuation benefits on the grounds of severe financial hardship and as compensation to victims of crime.
The regulator has issued updates to its regulatory guidance on conflicted remuneration for advisers in preparation for incoming reforms to life insurance remuneration, which come into effect on 1 January 2018.
The announcement of a royal commission may suggest tighter regulation for the Australian banking sector at a time when other regions are focusing on deregulation, says AMP Capital.
Non-bank licensee MyPlanner Australia has had licence conditions imposed on it following regulatory surveillance which found inadequate supervision of its authorised representatives.
Prime Minister Malcolm Turnbull has confirmed his government will conduct a royal commission into Australia’s banking and financial services industry.
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