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Showing 31 - 40 of 158 results for "Fee disclosure"

Platform prototypes compliance capability

ALLY SELBY  |  THURSDAY, 18 JUN 2020
... generated by advice practices (for example in SOAs or ROAs), he said, and tests risk-related indicators such as fee disclosure statements and investment strategies. This includes something as granular as whether a client's money is invested according ...

Adviser guilty of misuse of client money

ELIZA BAVIN  |  THURSDAY, 14 MAY 2020
... providing advice that was not in the best interest of his clients and failing to provide statements of advice and fee disclosure statements. Melbourne-based Bimaljeet Sekhon was banned for three years for failing to comply with financial services laws ...

ASIC bans RC case study adviser

HARRISON WORLEY  |  TUESDAY, 12 MAY 2020
... not always in the best interests of clients, and did not always come with a Statement of Advice or appropriate fee disclosure statements in a timely manner. Harris, a former Millennium3 and Dover authorised representative, was the subject of a Royal ...

Compliance worse than COVID-19

ALLY SELBY  |  THURSDAY, 23 APR 2020
... of the preparation and delivery of financial advice," Anderson said. "In other cases, the cost and complexity in Fee Disclosure Statements and opt-in processes is significantly adding to the ongoing cost of maintaining an ongoing fee arrangement with ...

ASIC drags NAB to court for fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
... "large number" of customers it was charging fees to. According to ASIC, NAB failed to issue - or issued defective - fee disclosure statements to customers, and did not establish and maintain compliance systems and processes to detect or prevent failures. ...

AFSLs show widespread non-compliance: ASIC

ELIZA BAVIN, JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2019
... charging fees long after ongoing fee arrangements have been terminated, ASIC has found. The report, Compliance with fee disclosure statement and renewal notice obligations, focused on whether the fee disclosure documents, provided by 30 randomly selected ...

Licensee faces hefty remediation bill

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 SEP 2019
Australian financial services license holder ClearView Financial Advice has been hit with a remediation bill for $730,000. ClearView's review and remediation program for over 200 clients who received poor life insurance advice resulted in the figure. ...

YBR to remediate wealth clients

KARREN VERGARA  |  FRIDAY, 30 AUG 2019
Yellow Brick Road is expecting to compensate wealth clients close to $1 million for failing its fee disclosure statements obligations. During the 2019 financial year, the ASX-listed firm identified some advice clients with ongoing fee arrangements may ...

ASIC to crack down on platform fees

ELIZABETH MCARTHUR  |  WEDNESDAY, 14 AUG 2019
... was terminated. ASIC also asked for the names of policies and procedures used by individual platforms to prepare fee disclosure statements and monitor and audit compliance with fee disclosure obligations. This included requiring platforms to disclose ...

Adviser stole $200k from SMSFs

ELIZABETH MCARTHUR  |  TUESDAY, 6 AUG 2019
... contrary to clients' risk appetites and failed to provide statements of advice, product disclosure statements or fee disclosure statements. ASIC found Michael engaged in unlicensed financial advice beyond the cessation of his authorisation. He was last ...