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Early release of super scammers cop prison time
Three people will go to prison after pleading guilty to defrauding the COVID-19 early release of superannuation scheme for $103,500.
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ASIC tells super funds to 'step it up'
ASIC commissioner Simone Constant delivered a stern warning to super fund trustees.
Brookfield bids for majority stake in Neoen
Brookfield and its institutional partners have lobbed a bid to acquire a 53% majority stake in French renewable energy company Neoen.
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Jason Huljich
JOINT CHIEF EXECUTIVE OFFICER
CENTURIA CAPITAL LIMITED
CENTURIA CAPITAL LIMITED
A single decision can change your life, and that's exactly what Centuria Capital joint chief executive Jason Huljich learned when he came to Australia in the 1990s. Eliza Bavin writes.
The members of the FSC have always known the advisers responsible for the inappropriate advice/behaviour yet have not acted to stop it. The blame should lie at the feet of those responsible not with the overwhelming number of advisers that daily provide excellent advice to the people who need it.
LIF reforms as they currently stand will only increase the cost of advice and drive more people to platform (superannuation ) and direct insurance which we all know to be less comprehensive and or more expensive. These reforms which ASIC support will be the next big issue for ASIC in the insurance space as consumers face poor claims outcomes as they were forced into these products without knowing the differences in quality and price.
Fixing the problem that ASIC has identified is simple under the current rule, it just requires the three major players to do their job, ASIC (police) which they are now starting to do, licensees be responsible for their AR's actions (withdraw AR status on known offenders) and Insurers not dealing with the known offenders or encouraging some of these behaviours.
It's simple, effective and doesn't require more regulation.
1. Code of conduct Hmmmm, not one word in it about looking after the interests of clients!
2. Remuneration, thanks for HALVING our income and setting us on a path to only 20%, being a fifth our income (my husband and kids send their thanks).
3. LIF 'seismic reform' only seismically increases banks/insurers already record profits
4. LIF - Can you tell us one consumer benefit and prove it?
5. Democracy - did you give your members the opportunity to vote on whether they support the seismic industry changing legislation?
6. EGM - so many members in so short a time want to have their say on the LIF, can you ignore all of them?
7. There was no DIRECT correlation with upfronts with ALL advisers in ASIC 413
Please tell us one benefit for consumers in the LIF that you so ardently support.