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Showing 81 - 90 of 106 results for "Senate Economics Committee"

Banks support the "original" FoFA intent: ABA

LAURA MILLAN  |  MONDAY, 26 MAY 2014
... Australia (ISA) and all organisations representing consumers have spoken against the exemption. The Senate Economics Committee is currently looking at the FoFA amendments and will be reporting its conclusions to the Parliament during the next sitting ...

FSC apologises to AusSuper for misinformed tweet

JAMES FERNYHOUGH  |  MONDAY, 26 MAY 2014
... acknowledge the statement was inaccurate. It's withdrawn." The incorrect $19 million figure came from the Senate Economics Committee hearing on the Future of Financial Advice (FoFA), at which the FSC was present. Questioning representatives from Industry ...

FPA reveals 10 point plan to improve advice

LAURA MILLAN  |  FRIDAY, 23 MAY 2014
... points to raise the standards of financial advice. The FPA presented the plan yesterday during the Senate Economics Committee hearing on the streamlining of the Future of Financial Advice (FoFA) legislation. The plan outlines the FPA's position in several ...

Intra-fund advice is also a commission: FSC

LAURA MILLAN  |  FRIDAY, 23 MAY 2014
... markets director Andrew Bragg and senior policy manager Cecilia Storniolo appeared yesterday at the Senate Economics Committee hearing on the streamlining of the Future of Financial Advice (FoFA) legislation. "It is hypocritical to suggest that commissions ...

FPA and AFA unite: stop commissions on general advice

LAURA MILLAN  |  THURSDAY, 22 MAY 2014
... Association of Financial Advisers (AFA) and the Financial Planning Association (FPA) have told the Senate Economics Committee that they do not want to see employees receiving commission for providing general advice or single-product advice. "We don't ...

CBA wants Senate to fix corporate super advice

LAURA MILLAN  |  MONDAY, 12 MAY 2014
... Financial Advice (FoFA) to find a way to solve the issue. The bank made this request in a submission to the Senate Economics Committee inquiry into FoFA. The document, which was made public recently, said that corporate super advisers assist employers ...

Westpac weighs in on FoFA debate

LAURA MILLAN  |  FRIDAY, 9 MAY 2014
... first of the Big Four to have its say on the FoFA changes, which are A currently being examined by the Senate Economics Committee. "The proposed amendments achieve an appropriate rebalancing of the original reforms by ensuring that financial advice remains ...

Stakeholders stage FoFA confrontation in Senate submissions

LAURA MILLAN  |  WEDNESDAY, 7 MAY 2014
... statements and the separation of general and personal advice. The Financial Services Council (FSC) asked the Senate Economics Committee to repeal the opt-in requirements, as well as the s961(B)(2)(g), which is the best interest duty 'catch-all' phrase. ...

New reports to stir financial planning perfect storm

LAURA MILLAN  |  MONDAY, 5 MAY 2014
... should have been more transparent and should have better communicated with the whistleblowers. The Senate Economics Committee will report the conclusions of the inquiry to ASIC by the end of May. The inquiry looked into ASIC's performance when dealing ...

Government will go ahead with FoFA changes: Ciobo

JAMES FERNYHOUGH  |  THURSDAY, 3 APR 2014
... requirement, and the sanctioning of commissions for general advice. The bill has been referred to the Senate Economics Committee, which is due to report in mid-June. "In the meantime, the acting assistant treasurer Senator Mathias Cormann is engaging ...