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Showing 111 - 120 of 136 results for "Best Interest Duty"

Advisers to justify platform choice under best interest

LAURA MILLAN  |  FRIDAY, 6 SEP 2013
Financial planners will have to justify platform choice under the best interest duty provision within the Future of Financial Advice (FoFA) regulation. The Australian Securities and Investments Commission (ASIC) has raised the issue that platform operators ...

FoFA FDS uncertainty remains

LAURA MILLAN  |  MONDAY, 12 AUG 2013
... soon as the new Government is elected. The FPA also plans to lobby for more clarity on scaled advice and the best interest duty.

ASIC wants more adviser record-keeping rules

LAURA MILLAN  |  THURSDAY, 1 AUG 2013
... Commission (ASIC) has proposed that financial advisers improve the way they keep their records as part of the best interest duty obligation under the Future of Financial Advice (FoFA) regulation. In Consultation Paper 214 called "Updated record-keeping ...

Best Interest drives advisers away from products

LAURA MILLAN  |  MONDAY, 29 JUL 2013
The Best Interest Duty provision of the Future of Financial Advice (FoFA) regulation is designed to make planners give comprehensive advice in a process where recommending a product is "the last piece of the puzzle." At the end of the advice process ...

Coalition confirms plans for FoFA amendments

LAURA MILLAN  |  TUESDAY, 9 JUL 2013
... simplification and streamlining of additional annual fee disclosure statement requirements and an improvement of the best interest duty. The Coalition also wants to provide certainty around the provision and availability of scaled advice and to refine ...

FoFA still in need of changes: industry

LAURA MILLAN  |  WEDNESDAY, 3 JUL 2013
... services sector are asking for adjustments to FoFA. The Financial Services Council (FSC) specified that the best interest duty is one of the aspects that needs to change. "The Best Interests Duty provision needs modification to ensure it provides certainty ...

FOFA guidance released

BEN COLLINS  |  FRIDAY, 14 DEC 2012
... corporate watchdog said had been produced after extensive consultation were released to provide clarity on the 'best interest duty' and 'scaled advice' components of the reforms. Also released was an update on the conflicted remuneration provision of ...

Litigation risk to force advisers into multi-asset options: Russell

MARK SMITH  |  FRIDAY, 9 NOV 2012
... to rely on a handful of products they understand really well. "Advisers don't yet have a handle on how the best interest duty is going to impact the way they build their approved product lists," he said. "Many advisers have a small approved product lists ...

Coalition clears up FOFA questions

MELANIE TIMBRELL  |  MONDAY, 28 MAY 2012
... with every iteration of new documentation that comes out of the government. "We will improve the definition of best interest duty and will ensure there us clarity around the provision of standard advice and we will further refine the ban on commissions ...

SPAA reassures members on opt-in

MELANIE TIMBRELL  |  WEDNESDAY, 28 MAR 2012
... required." The association has consistently argued that a statutorily imposed 'opt-in' is made superfluous by the best interest duty and fee for service provisions in the legislation. "SPAA welcomes the 'best interest duty,' long advocating that acting ...