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Showing 1011 - 1020 of 2506 results for "Legal"

AMP advice lead rejects AMPFPA claims

JAMIE WILLIAMSON  |  MONDAY, 19 AUG 2019
The head of AMP's advice business has rebuffed claims the group failed to meet its legal obligations to advisers in announcing changes to its Buyer of Last Resort terms, saying the AMP Financial Planning Association was informed ahead of time and ...

Netwealth FUA, adviser numbers rise

KARREN VERGARA  |  MONDAY, 19 AUG 2019
... reference to matters identified during the hearings. "This review identified matters involving client rectification costs and legal expenses of $1.1 million. Our commitment has always been that when we make errors, we rectify them," Tong said. "The board ...

ASIC bans adviser again

HARRISON WORLEY  |  FRIDAY, 16 AUG 2019
... Planning, before eventually becoming an Infocus Securities authorised representative in February 2013. ASIC said advisers had a legal obligation to act in the best interests of their clients when providing personal advice. "Advisers must take reasonable ...

Court dismisses Westpac lending practice case

KARREN VERGARA  |  THURSDAY, 15 AUG 2019
... said. Commissioner Sean Hughes commented ASIC took on the case against Westpac because it needed judicial clarification on a legal obligation on lenders. ASIC refers to this case as a 'test case', he said. "As a regulator, it is our role to test the ...

Chief economist update: Greater than the Great Recession of 2008

BENJAMIN ONG  |  THURSDAY, 15 AUG 2019
... winner Paul Samuelson in 1948: "By increasing the volume of their government securities and loans and by lowering Member Bank legal reserve requirements, the Reserve Banks can encourage an increase in the supply of money and bank deposits. They can encourage ...

Super trustees to formulate whistleblower policies

KARREN VERGARA  |  MONDAY, 12 AUG 2019
... may not otherwise be detected. "Implemented appropriately, whistleblower policies will help companies to comply with their legal obligations to protect whistleblowers from being identified and to protect whistleblowers from detriment." ASIC is consulting ...

FASEA exam results spark debate

ELIZABETH MCARTHUR  |  FRIDAY, 9 AUG 2019
... exam was to get rid of a third of advisers by bellcurving the result, it is to test that advisers know their ethical and legal obligations. What it has shown (as I have long believed) is that most advisers understand both, and it is only a minority that ...

Westpac fined over reporting failure

ELIZABETH MCARTHUR  |  THURSDAY, 8 AUG 2019
APRA has handed Westpac the maximum financial penalty it can for failing to meet reporting obligations. Westpac and its subsidiaries St George Finance Holdings and Capital Finance Australia will pay more than $1.5 million after breaching requirements ...

Inaugural FASEA exam results in

KARREN VERGARA  |  THURSDAY, 8 AUG 2019
... centres across Australia from 20 June to 24 June. Candidates were tested in three areas: financial advice regulatory and legal obligations; applied ethical and professional reasoning and communication; and financial advice construction. Under new financial ...

Why do we need royal commissions, Hayne asks

KANIKA SOOD  |  THURSDAY, 8 AUG 2019
... development of policy. They are issues about public debate about policy. They are issues about public accountability when the legal system has not been engaged or has not been engaged effectively for the vindication of the law and those who have suffered ...