AMP advisers low priority for ASICBY ELIZABETH MCARTHUR | WEDNESDAY, 15 JUL 2020 12:17PMSenator Deborah O'Neil has revealed she was told by ASIC that AMP's Buyer of Last Resort (BOLR) agreements being altered and subsequently, slashing the value of advice businesses, was not a priority for the regulator. Related News |
Editor's Choice
Antares winds up Ex-20 Aussie equities fund
|The Antares Capital Partners' Ex-20 Australian Equities Fund has been terminated after a seven-year run.
J.P. Morgan launches active Aussie equity ETF
|The asset manager has listed the J.P. Morgan Australia Equity Active ETF (ASX: JPOZ) on the ASX, targeting to provide long-term return from local companies.
First Sentier expands Northern Trust mandate
|Northern Trust has once again expanded its service offering with First Sentier Group, this time for its First Sentier Investors Global Growth Funds.
Bell Financial Group profit surges 133%
|Bell Financial Group has reported a 133.3% increase in first half net profit after tax (NPAT) to $21.7 million, supported by stronger market conditions and increased trading activity.
Videos
Brought to you by ![]()
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Andrew Gregory
CHIEF ADVICE OFFICER
UNISUPER
UNISUPER
After 25 years, Andrew Gregory remains motivated by the impact financial advice can have on Australians' lives. As UniSuper's chief advice officer, he is not slowing down on any of his current ambitions. Matthew Wai writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
ASIC are more concerned with things like "culture" and "climate change" rather the bully boy tactics of a rogue organisation. Obviously not sexy enough.
IT SEEMS TO ME THAT THE COMPANIES CAN DO NO WRONG.tHIS WHOLE THING HAS BEEN A SET UP FROM THE START TO REGAIN THE GROUND LOST WHEN LISENSING WAS ESTABLISHED.
Imagine the shock they got when sudenly they found themselves paying commission on every case any one still in the business had ever written for them, when they used to just dismiss us if we did give them the amount of business they thought was enough. AMP was the worst closed shop imaginable. They had keys to agents locked offices. I know one case where the manager of the group entered an agent's locked office, found evidence that he was looking at other companies and when he got back to the office ALL his belongings were out on the front entrance. ASIC was a tired little bunch of public servants then. What is it now?