Banking Royal Commission (Royal Commission into Misconduct in the Banking Superannuation and Financial Services Industry)

Coverage of superannuation in the Banking Royal Commission (Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry). #bankingRC

90% of SMSF set up advice doesn’t comply with best interest duty, ASIC finds

The Banking Royal Commission has commenced hearings into superannuation. Around 90% of advice to establish an SMSF doesn’t comply with the best interest duty, ASIC has told the banking Royal Commission based on a yet to be published investigation. Deputy Chair of ASIC Peter Kell told the Royal Commission into… Read More »90% of SMSF set up advice doesn’t comply with best interest duty, ASIC finds

3 ways SMSFs could still be dragged into the banking Royal Commission

The Banking Royal Commission has commenced hearings into superannuation. SMSFs are meant to be excluded from the banking Royal Commission, but there are three ways they could still be dragged in according to the chair of the SMSF Association. The Prime Minister, when announcing the banking Royal Commission, said it… Read More »3 ways SMSFs could still be dragged into the banking Royal Commission

Criticism of super in banking RC “misguided and unwarranted”: Minister

The Banking Royal Commission has commenced hearings into superannuation. Criticism that superannuation and insurance is to be including in the Royal Commission into Misconduct in the Bank, Superannuation and Financial Services Industry is “misguided and unwarranted”, says Minister for Revenue and Financial Services Kelly O’Dwyer. The industry super sector in… Read More »Criticism of super in banking RC “misguided and unwarranted”: Minister

Super industry welcomes Royal Commission into banks, but not into superannuation

The Banking Royal Commission has commenced hearings into superannuation. The superannuation industry has, broadly, welcomed the Royal Commission into the banks, while being displeased that it will extend to superannuation. The joint statement from the PM and the Treasurer said that the Royal Commission into Misconduct in the Banking, Superannuation… Read More »Super industry welcomes Royal Commission into banks, but not into superannuation