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Showing 11 - 20 of 158 results for "Fee disclosure"

Abolishing FDSs a major win: Panel

KARREN VERGARA  |  TUESDAY, 16 MAY 2023
The Quality of Advice Review's recommendation to abolish Fee Disclosure Statements would be a major win for financial advisers as many continue to grapple with providing accurate documents to clients. The Financial Advice Association Australia general ...

QAR does not "trash" FoFA: Anderson

CASSANDRA BALDINI  |  TUESDAY, 7 MAR 2023
... material improvements for financial advice clients," he said. "Who could possibly disagree with the removal of Fee Disclosure Statements (FDS), removing the mandatory obligation to provide long and complex advice documents and the other reforms that ...

Associations call for improved access to financial advice

ANDREW MCKEAN  |  FRIDAY, 3 FEB 2023
... of a holistic package of reforms," the JAWG said. "The reforms must extend beyond easy wins such as streamlining fee disclosure requirements and iron out obligations like the design and distribution obligations." The letter to Jones was signed by Association ...

Focus on providing 'good advice': QAR draft proposals

JAMIE WILLIAMSON, CASSANDRA BALDINI  |  MONDAY, 29 AUG 2022
... Turning to disclosure documents, Levy has proposed replacing current requirements for advisers to give clients annual fee disclosure statements, seek their agreement to renew fee arrangements and obtain their clients' signed consent to deduct fees ...

ASIC takes Mercer Financial Advice to court

JAMIE WILLIAMSON  |  THURSDAY, 30 JUN 2022
... that the customer had a binding contract with Mercer when they didn't. ASIC also alleged Mercer failed to provide fee disclosure statements or instead provided inaccurate statements. This was apparently the case for more than 2100 customers. Customers ...

Six cases brought against Westpac now finalised

JAMIE WILLIAMSON  |  FRIDAY, 22 APR 2022
... commissions having been banned. This impacted just shy of 10,000 members. Another of the cases involved inadequate fee disclosure by the Westpac, Securitor and Magnitude licensees regarding the ongoing charging of contribution fees. Over eight years ...

Backlash after 'unprecedented' ASIC action against Westpac

ELIZABETH MCARTHUR  |  THURSDAY, 2 DEC 2021
... charging superannuation members insurance premiums that included a commission despite them being banned; inadequate fee disclosure across its now defunct advice licensees; continuing to charge fees on deregistered company accounts; and selling on credit ...

ASIC files numerous cases against Westpac

JAMIE WILLIAMSON  |  TUESDAY, 30 NOV 2021
... charging superannuation members insurance premiums that included a commission despite them being banned; inadequate fee disclosure across its now defunct advice licensees; continuing to charge fees on deregistered company accounts; and selling on credit ...

NAB partners with life insurance, advice provider

ANNABELLE DICKSON  |  FRIDAY, 3 SEP 2021
... for more than 15 years. Late last month, NAB was ordered to pay $18.5 million by the Federal Court for misleading fee disclosure statements in relation to personal financial advice.

NAB fined $18.5m over misleading fee disclosure

JAMIE WILLIAMSON  |  THURSDAY, 26 AUG 2021
The big four bank has been ordered by the Federal Court to pay $18.5 million for misleading fee disclosure statements in relation to personal financial advice, in what is the first penalty imposed by the court for such failures. The court found NAB ...