Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 91 - 100 of 308 results for %22Best Interest Financial Duty%22

Low pass rate for latest FASEA exam

ELIZABETH MCARTHUR  |  THURSDAY, 18 MAR 2021
... This included demonstrating a practical application of due diligence, identifying judgement and biases and applying best interest duty. The other area advisers underperformed in was financial advice construction, including demonstrating an understanding ...

Admin fees could balloon from BFID

KARREN VERGARA  |  TUESDAY, 16 MAR 2021
The new best financial interests duty (BFID) could see members pay higher administration fees as the record-keeping obligations ramp up, superannuation funds and industry experts warn. The reforms, which are part of the Your Future Your Super legislation ...

Continuous disclosure laws to stay

KARREN VERGARA  |  WEDNESDAY, 17 FEB 2021
... four key areas: stapling; addressing MySuper funds' underperformance; launching the YourSuper comparison tool; and the best financial interest duty. Under the new stapling rules, the Australian Institute of Superannuation Trustees chief executive ...

SMSFs primed for best financial interests duty

KARREN VERGARA  |  TUESDAY, 16 FEB 2021
... of an SMSF are also the trustees there is a strong incentive already for trustees to act in their own financial best interest," Burgess said. The Minister for Superannuation, Financial Services and the Digital Economy Jane Hume briefly addressed the ...

The trouble with best financial interests duty

KARREN VERGARA  |  WEDNESDAY, 10 FEB 2021
... interests covenant and the proposal to reverse the evidential burden of proof are not warranted," she said. The best interest covenant derived from case law and there is already a financially focussed covenant for trustees that was introduced a few years ...

ASIC imposes licence conditions on Poynter Hargraves

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 FEB 2021
... ASIC said. "ASIC's surveillance also found that some clients were provided with financial advice that failed to meet the best interests duty and related obligations." The additional licence conditions require Poynter Hargraves to engage an independent ...

FASEA exam results for November 2020

ELIZABETH MCARTHUR  |  TUESDAY, 22 DEC 2020
... demonstrating knowledge of the components of key advice documentation and demonstrating the ability to identify breaches of best interest duty and subsequent notification obligations.

Iress scores dealer group mandate

JAMIE WILLIAMSON  |  TUESDAY, 8 DEC 2020
... efficiently ensure advisers' service obligations are met, fees are appropriately charged, and a myriad of other Best Interest Duty risks are mitigated." FYG sees significant opportunities to expand its use of Lumen, including across business intelligence ...

Your Future, Your Super reforms closer to legislation

KARREN VERGARA  |  FRIDAY, 27 NOV 2020
... that will put trustee spending under the microscope. Treasury Laws Amendment (Measures 4 for a later sitting) Bill 2020: Best 5 Financial Interests Duty will force trustees to be more accountable to how member money is used to operate on a day-to-day ...

Retail superannuation funds grilled on member priorities

KARREN VERGARA  |  TUESDAY, 24 NOV 2020
A parliamentary inquiry has again cast doubt over retail superannuation funds' ability to put the best financial interests of members ahead of profit and shareholders. The most recent Standing Committee on Economics into super heard instances of ...