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Showing 1 - 10 of 37 results for "Industry Funding Model"

Adviser levy discount amounts to $8m saving

KARREN VERGARA  |  FRIDAY, 10 NOV 2023
... office to support and encourage further changes including the implementation of the improvements to the Industry Funding Model that were recommended by Treasury in its recent review," Abood said. Separately, the FAAA hired Louise Trevaskis to the newly ...

Adviser levy tripled, labelled "deeply unfair"

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
... called for the freeze to be reinstated, particularly given the recommendations from the recent review of the industry funding model haven't been implemented and there's far less financial advisers in the industry today. "We do acknowledge the government ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... will lift the financial adviser levy freeze as it unveils recommendations that make minor changes to the industry funding model following a review. Assistant treasurer and minister for financial services Stephen Jones yesterday announced that he will ...

FPA seeks broader scope for CSLR

CHLOE WALKER  |  MONDAY, 10 OCT 2022
... further 12 months to ensure cost certainty for the sector during FY2022/23, while Treasury reviews ASIC's Industry Funding Model. "The current freeze has recognised the negative impact that ongoing significant ASIC industry fee increases have had on ...

Industry funding model discussion commences

JAMIE WILLIAMSON  |  FRIDAY, 30 SEP 2022
The government has released a discussion paper on the ASIC industry funding model, consulting on opportunities to simplify its design, possibly through the creation of new sub-sector definitions to make the apportioning of costs fairer. Treasury is ...

Remediation bills revealed amid call for levy freeze extension

JAMIE WILLIAMSON  |  WEDNESDAY, 24 AUG 2022
... against them. The levy is currently set at the 2018-19 level of $1142 per adviser. While a review of the industry funding model has been announced, the FPA said it's not confident any changes can be made and implemented in time to impact this financial ...

Review of ASIC funding model begins

ANDREW MCKEAN  |  TUESDAY, 9 AUG 2022
The government has commenced a review of the ASIC Industry Funding Model, issuing terms of reference. An update from Treasury said the review will be forward looking and focused on identifying refinements to the industry funding model. Treasury added ...

Advice requirements confusing, complex: JAWG

ANDREW MCKEAN  |  TUESDAY, 21 JUN 2022
... profession-wide position on the tax deductibility of initial and ongoing advice fees and a review of the ASIC industry funding model was also prescribed. Of note, as previously reported on by Financial Standard, ASFA also called for greater detailing ...

Financial adviser levy to drop

JAMIE WILLIAMSON  |  MONDAY, 30 AUG 2021
... and a Compensation Scheme of Last Resort," Frydenberg and Hume said. Treasury will also review the ASIC Industry Funding Model, commencing in 2022, in consultation with the Department of Finance and ASIC. Responding to the news, Financial Planning Association ...

Adviser levy to increase by 160%

ELIZABETH MCARTHUR  |  FRIDAY, 5 MAR 2021
... fines are diverted to consolidated revenue rather than offsetting ASIC's costs. They also noted ASIC's industry funding model had not changed despite major shifts in the financial advice sector, with banks largely exiting advice. Yet ASIC's budget to ...
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