Hayne Recommendations

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Providing Documents to AFCA - R4.11

Holders of AFSL now have to provides all relevant documents and records to AFCA.


https://bit.ly/2GagGkN

Best Interests Duty - Super Funds - R3.7

Extends civil penalties to superannuation fund trustees, in additions to civil and criminal penalties to directors, for breach of their best interest duty.


https://bit.ly/2UJFxE1

Keeping ASIC and APRA Honest

. Among the recommendations tabled in the final report is the creation of a new oversight body for the industry's chief regulators – ASIC and APRA.

Comprised of a three-member board, the report said the new oversight authority should be tasked with “[assessing] the effectiveness of each regulator in discharging its functions and meeting its statutory objects.” 

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