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Showing 131 - 140 of 153 results for "Interest Duty"

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 ...

FOFA passing causes industry division

ELISE BURGESS | FRIDAY, 23 MAR 2012

... more like that of Lord Voldemort." As expected, the Coalition has renewed its pledge to remove opt-in, improve Best Interest Duty and refine the commissions ban on risk insurance inside superannuation among others if it is elected.

FSC: Government drops opt-in requirement

CLAIRE MCGREAL | THURSDAY, 22 MAR 2012

... the requirement for opt-in but will not give any certainty to consumers and advisers on the operation of the Best Interest Duty and scaleable advice," Mr Brogden added. The FSC also said it was concerned the Bill did not clearly articulate how the Best ...

FOFA provisions will go ahead: PJC

ELISE BURGESS | THURSDAY, 1 MAR 2012

... of the FOFA legislation Bills. The PJC reaffirmed its stance on opt-in and annual renewal statements, saying Best Interest duty would remain as is. It also allowed for the provision of scaled advice and rejected the premise that commission remuneration ...

FOFA discontent rumbles on after PJC findings

CLAIRE MCGREAL | THURSDAY, 1 MAR 2012

... allowing for an effective scaleable advice framework". "We want higher standards for financial advisers, we want a best interest duty that puts consumers' interests first and we want an end to commissions," said John Brogden, FSC chief. Planning bodies ...

ASFA warns on unseen MySuper outcomes

ELISE BURGESS | THURSDAY, 19 JAN 2012

... whether an adviser could provide scaled advice on single issues or simple scenarios while still abiding by best interest duty regulations. "In order for advisers to be able to do this there needs to be a degree of certainty as to what "best interests" ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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