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CBA, ASIC unveil details of new compensation scheme

LAURA MILLAN  |  FRIDAY, 8 AUG 2014
... Ombudsman Service (FOS) with both licensees "agreeing to waive any limitation period or claim threshold that would normally apply to FOS matters." The additional licensee conditions were imposed to CFPL and FW by ASIC in May after media reports unveiled ...

US/EU v Russia's lose-lose is China's win-win

BENJAMIN ONG  |  FRIDAY, 8 AUG 2014
I'll be ROFL - rolling on the floor laughing - this morning if not for the fact that it's the big boys playing with nuke toys that are escalating their tit-for-tat aggression... even if they hurt themselves in the process. Instead, me, myself and I ...

ASIC cracks down on advisers over PI insurance

LAURA MILLAN  |  THURSDAY, 7 AUG 2014
... identified 98 financial advice licensees that still maintained a security bond with ASIC and contacted them to remind them to apply for its release. The investigation resulted in the cancellation of seven AFS licenses: C Greenfield & S Garland, Credit ...

Planning industry on brink of golden era

MARK SMITH  |  THURSDAY, 7 AUG 2014
... profession is a disciplined group of individuals, with ethical standards, special skills and knowledge, and a willingness to apply this knowledge in the interests of others. "I don't think doctors get stuck into each other on blogs like we do in the ...

Dying in social media: adviser's next big nightmare

LAURA MILLAN  |  THURSDAY, 31 JUL 2014
... different legal jurisdictions that the sites operate in. "Most platforms are based in the US, and would have the relevant US law apply. In some circumstances you may need a court order to access the information, and often people won't know this until ...

Licensee under ASIC scrutiny after employing AAA advisers

LAURA MILLAN  |  WEDNESDAY, 30 JUL 2014
An Adelaide-based licensee has entered into an enforceable undertaking (EU) with the Australian Securities and Investments Commission (ASIC) after it employed a number of former representatives of AAA Intelligence limited. PGW Financial Services has ...

Punishing Putin (harder)

BENJAMIN ONG  |  WEDNESDAY, 30 JUL 2014
Reports that the US of A and the European Union have expanded the sanctions they've imposed on Russia reminded me of that ancient Spanish torture weapon - the garrotte. Wikipedia describes the garrotte as "a practice of strangulation by which the condemned ...

ASX200 companies 'poor' on gender diversity disclosure

LAURA MILLAN  |  WEDNESDAY, 23 JUL 2014
Most ASX200 companies do not meet gender diversity reporting recommendations, a BlackRock review has found. BlackRock looked at the 2013 annual reports of companies included in the ASX200 stockmarket index and found that gender diversity reporting is ...

Platinum and Iress named 'laggards' on sustainability

JAMES FERNYHOUGH  |  MONDAY, 14 JUL 2014
Platinum Asset Management Limited and Iress Limited are among just four ASX 200 companies that have failed to report on sustainability risk for the last four years, according to a study by the Australian Council of Superannuation Investors (ACSI). ACSI ...

Intra-fund advice exemptions in doubt

JAMES FERNYHOUGH  |  TUESDAY, 8 JUL 2014
... small business financial advisers, is consider whether in the interest of competitive neutrality, those requirements should apply equally across the financial services sector, including to all advice provided through industry funds, which Bill Shorten ...