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Showing 111 - 120 of 1221 results for "Licensees"

More work to do on reportable situations compliance, ASIC says

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
Licensees are generally slow to report to ASIC because of deficient internal processes and poor monitoring of compliance with the reportable situations regime, a review found. Recent surveillance by ASIC found financial services and credit licensees ...

Treasury gives Tranche 2 reform package preview

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
... replenish the ranks of professional advisers. We are pleased to see the government's recognition of the importance of this." Licensees will also be able to employ the new class of advisers but will only be able to charge a direct fee for the advice provided ...

Trustees, advisers have 'insufficient focus' on performance

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
... often insufficient focus on performance and a lack of evidence around how super trustees, financial advisers and advice licensees were considering persistently underperforming investment options. Kirkland added that there was a tendency toward over-reliance ...

AMP completes advice licensees sale

KARREN VERGARA  |  MONDAY, 2 DEC 2024
AMP has finalised its divestment of three licensees and support service business to Entireti and AZ NGA as the new owners unveil a revamped leadership team. Some 950 advisers across AMP Financial Planning, Hillross, and Charter Financial Planning now ...

ASIC issues new guidance on DBFO reforms

KARREN VERGARA  |  FRIDAY, 22 NOV 2024
... FAQs: FSGs and website disclosure information includes references to ASIC's recently made instrument that allows AFS Licensees or their representatives dealing in a financial product for the purposes of implementing financial product advice to rely on ...

Fair Work ruling, ASIC put offshoring arrangements on notice

KARREN VERGARA  |  THURSDAY, 14 NOV 2024
... how they manage risks related to technology, data sharing and privacy. We will also publish resources that will help licensees improve the security of client data when sending it offshore." When asked to provide more details on how ASIC will approach ...

CFS, Viridian Advisory launch low-cost advice deal

KARREN VERGARA  |  MONDAY, 4 NOV 2024
... through this digitally driven engagement model." Power added that CFS will consider expanding the arrangement with other licensees as demand for advice continues to grow among its members. CFS and Otivo recently launched an offering that charges $88 ...

Licensees pay $92m in compensation

ELIZA BAVIN  |  FRIDAY, 1 NOV 2024
... reporting, breach identification and investigation, root causes, consumer impact and remediation efforts. During the period, licensees submitted 12,298 reports. Of these, 79% had a financial and/or non-financial impact on customers. As at 30 June 2024 ...

Gap exists between licensees' AI use and governance processes: ASIC

MATTHEW WAI  |  TUESDAY, 29 OCT 2024
The regulator's inaugural report on use of artificial intelligence by licensees found instances of artificial intelligence (AI) use that was at risk of being at odds with their regulatory obligations. ASIC reviewed more than 600 AI use cases across ...

APRA questioned on super performance test

ELIZA BAVIN  |  FRIDAY, 25 OCT 2024
... offerings for accumulation members. "We are currently examining trustee expenditure data at a fund level to ensure that RSE Licensees decisions are in members' best financial interests." Lonsdale added that APRA is focused on the ways in which superannuation ...