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Showing 41 - 50 of 100 results for "Regulatory Guide 97"

ASIC remains firm on IFA definitions

DARREN SNYDER  |  TUESDAY, 14 NOV 2017
The Australian Securities and Investments Commission reaffirmed its position on terminology used to describe the independence of financial advisers. ASIC's latest update to Regulatory Guide 175 (RG 175) confirms that terms such as "independently owned" ...

RG97 effects inconsistent: Rainmaker

KARREN VERGARA  |  WEDNESDAY, 8 NOV 2017
The effects of fee disclosure reforms under Regulatory Guide 97 have trickled through market segments and asset classes revealing uneven results, Rainmaker's research shows. A high level analysis shows not-for-profit (NFP) superannuation funds have ...

ASIC reviews RG97 impact

KARREN VERGARA  |  THURSDAY, 2 NOV 2017
ASIC announced it will conduct an external review on the effects of the Regulatory Guide 97 fee disclosure reforms, and will again extend its previous September 30 compliance deadline. ASIC said the move was in response to the industry's outcry around ...

Fees dominate super choice, RG97 falling short: ISA

KARREN VERGARA  |  WEDNESDAY, 27 SEP 2017
Consumers prioritise fees and net returns when selecting a superannuation fund, an Industry Super Australia survey reveals. The poll, conducted in conjunction with UMR Research and based on 1000 respondents, found fees to be an "extremely important" ...

Small licensees are PI insurance compliant: ASIC

KARREN VERGARA  |  WEDNESDAY, 30 AUG 2017
The majority of small Australian financial services licensees are meeting professional indemnity (PI) insurance obligations, according to an ASIC investigation. ASIC's review included 56 small AFS licensees with 20 or less authorised representatives ...

Super funds on notice over disclosure deadline

DARREN SNYDER  |  MONDAY, 28 AUG 2017
From 30 September financial advisers and consumers can expect to see significant changes in the way superannuation and managed investment funds disclose fees and charges. Corporate regulator ASIC said the changes will help bring industry-wide consistency ...

FOFA breach sees former adviser banned

JAMIE WILLIAMSON  |  THURSDAY, 20 JUL 2017
A former Magnitude Group financial adviser was banned by ASIC for breaching the best interest duty introduced under the Future of Financial Advice reforms. Jason Sean Atkins of Perth is prohibited from providing financial advice for three years after ...

RG 133 review reveals poor compliance

EMMA RAPAPORT  |  THURSDAY, 22 JUN 2017
Custodians and responsible entities of managed investment schemes with asset holding requirements are falling short of ASIC expectations, showing generally poor levels of understanding and compliance with Regulatory Guide 133. These findings form part ...

ASIC consults on new statement of advice

EMMA RAPAPORT  |  WEDNESDAY, 31 MAY 2017
ASIC is now consulting with the financial services industry on a new example statement of advice for life insurance. The regulator's latest consultation paper seeks feedback on the new example Statement of Advice (SOA) and related updates to the guidance ...

IRESS partnership aids RG 97 compliance

KARREN VERGARA  |  WEDNESDAY, 31 MAY 2017
Financial technology provider IRESS announced a partnership that will help clients analyse trades efficiently and become more RG 97 compliant. Clients of both IRESS and global financial technology company ITG will benefit from a faster and more comprehensive ...