Financial Standard Comments - Advice associations under conflict of interest on professionalism: ASIC Advice industry self-regulation is not an appropriate model to increase professionalism in the financial advice industry, as associations have "an inevitable conflict of interest," the Australian Securities and Investments Commission has argued. https://www.financialstandard.com.au/feed/latest?story=43866611 Tue, 23 Sep 2014 13:39:27 +1000 Tue, 23 Sep 2014 13:39:27 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by Mitchell Fleming (Tortoise Financial) A co-regulatory system is essential. ASIC should heavily fine Professional Bodies who fail to weed out and bar members who cannot comply with Regulations.

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]]> Mitchell Fleming (Tortoise Financial) Tue, 23 Sep 2014 13:39:27 +1000 Comment by Stephan Kasanczuk (WolfThink) I totally agree. All health funds were regulated by the fed gov't back in the 80s and they kept prices down and prevented bad management and then they lobbied to be self regulating and that's when health funds rates went through the roof and small efficient health funds went out of business. The same with this industry - the big players would control the market and force all independents to either amalgamate of die.

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]]> Stephan Kasanczuk (WolfThink) Wed, 24 Sep 2014 08:37:10 +1000