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Showing 101 - 110 of 529 results for "Future of Financial Advice"

ASIC to run rule over mortgage commissions

MARK SMITH  |  THURSDAY, 26 MAY 2016
... loan approval times for some firms. A similar review of commissions for financial planners led to the Future of Financial Advice (FOFA) reforms, which have rendered some operating models obsolete. The latest review has led some to speculate that real ...

Government releases draft life insurance regulations

ALEX BURKE  |  FRIDAY, 8 APR 2016
... up policies. Existing arrangements will be grandfathered "in a manner broadly consistent with [the Future of Financial Advice reforms] by ensuring that remuneration arrangements not effectively grandfathered by the Life Act... are explicitly grandfathered ...

Senate recommends immediate adviser bans following "bitter harvest"

ALEX BURKE  |  TUESDAY, 15 MAR 2016
... their advice... [and put] their own interests above those of their clients." The report noted that the Future of Financial Advice reforms "may well have remedied one of the most pernicious incentives underpinning poor financial advice" - that is, commissions ...

Parliament passes FoFA amendments

ALEX BURKE  |  THURSDAY, 3 MAR 2016
Several key amendments to the Future of Financial Advice reforms have been passed by parliament. The Corporations Amendment (Financial Advice Measures) Bill will extend the time allowed for advisers to provide opt-in renewal notices and fee disclosure ...

ACE forced to pay $1m for poor Combined sales culture

MARK SMITH  |  FRIDAY, 26 FEB 2016
... to take reasonable steps to ensure representatives complied with the best interests laws under the Future of Financial Advice (FOFA) reforms. ACE also admitted that between 1 January 2012 and 30 June 2014 a limited number of Combined sales staff oversold ...

FoFA end marks start of new advice era

LAURA MILLAN  |  MONDAY, 30 NOV 2015
The passing of the last amendments to the Future of Financial Advice (FoFA) legislation puts the controversial bill to bed and marks the start of a new age for financial advisers. Years of policy tinkering and regulatory uncertainty ended last week ...

Parliament repeals key FoFA amendments

LAURA MILLAN  |  TUESDAY, 24 NOV 2015
The Parliament has approved a Government motion to repeal key amendments to the Future of Financial Advice (FoFA) reforms in a move that has taken other MPs and industry stakeholders by complete surprise. The repeal affects the Government's proposed ...

Advice M&A deals boom after years of stagnation

LAURA MILLAN  |  FRIDAY, 20 NOV 2015
... they stopped buying. This, combined with the uncertainty around the grandfathering provision in the Future of Financial Advice (FoFA) legislation meant that all M&A activity stalled. "As financial planning businesses, we have been operating in a market ...

Banks face wealth management challenges

DARREN SNYDER  |  TUESDAY, 3 NOV 2015
... systems are implemented to assist in satisfying new regulatory obligations, including Stronger Super, Future of Financial Advice (FOFA) reforms, and the Foreign Account Tax Compliance Act (FATCA). Other factors such as inflationary influences and the ...

Life Insurance Framework fear fading

ALEX BURKE  |  TUESDAY, 3 NOV 2015
... clawback in the LIF beyond a year was punitive, and that ongoing responsibility was already covered by the Future of Financial Advice best interest duty. "Right now, the framework is a skeleton. It's always about putting the detail on that skeleton," ...