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Showing 131 - 140 of 288 results for %22Fee disclosure statement%22

ASIC falls on fund disclosure sword

DARREN SNYDER  |  WEDNESDAY, 30 NOV 2016
ASIC has bowed to superannuation industry lobbying and extended the transition period for funds to comply with updated fee and cost disclosure requirements under RG97. In September, ASIC Commissioner Greg Tanzer told the Australian Superannuation Investment ...

CBA responds to systemic advice failures

KERRIE SYDEE  |  FRIDAY, 28 OCT 2016
... supervision and training. "In addition, following the Future of Financial Advice reforms, customers also receive annual fee disclosure statements and new customers receive opt-in notices every two years to continue their ongoing service package." Group ...

ING DIRECT pays up for "no fees" super marketing

MARK SMITH  |  WEDNESDAY, 7 SEP 2016
... total of $5 million to members of its superannuation fund, Living Super, and will no longer promote the product as having "no fee" after the financial services regulator raised concerns about how fees on its cash option were advertised. ASIC first raised ...

Ostrava wound up, directors banned

KERRIE SYDEE  |  FRIDAY, 2 SEP 2016
... their SMSFs, providing unlicensed managed discretionary account services, failing to comply with financial services disclosure obligations and failing to act in client's best interests." The court also found that both Grimm and Ash had breached their ...

Government pushes "regulatory sandbox" for fintech startups

ALEX BURKE  |  WEDNESDAY, 4 MAY 2016
... protections "such as membership of an external dispute resolution scheme," compensation arrangements and modified conduct and disclosure obligations. "This consultation paper will seek feedback on additional steps that ASIC may take to facilitate fintech ...

Synchron announces LIF tech and referral arrangements

ALEX BURKE  |  TUESDAY, 23 FEB 2016
... announced two new LIF support initiatives. The first is SyncAdvsr, a software package designed to automatically produce fee disclosure statements and opt-in notices. The software also monitors group commissions received per adviser, per insurer and per ...

New super transparency rules spark controversy

LAURA MILLAN  |  WEDNESDAY, 25 NOV 2015
ASIC's updated fee and cost disclosure requirements for superannuation funds have sparked controversy among industry stakeholders. The regulator released Regulatory Guide 97 Disclosing fees and costs in PDSs and periodic statements, which includes a ...

Parliament repeals key FoFA amendments

LAURA MILLAN  |  TUESDAY, 24 NOV 2015
... extending the time for advisers to send opt-in notices from 30 to 60 days and extending the time for clients to prove fee disclosure statements to pre-1 July 2013 retail clients from 30 to 60 days. The financial planning sector had long lobbied for these ...

Fee error forces Ausbil to pay $18m

LAURA MILLAN  |  WEDNESDAY, 5 AUG 2015
... Management overcharged fees of approximately $18 million to investors over the last ten years. Ausbil will have to remediate the fee error to affected investors and has appointed KPMG as an independent advisor to review the compensation methodology. ...

Forward-thinking advisers benefit from opt-in deadline

ALEX BURKE  |  WEDNESDAY, 1 JUL 2015
ASIC's "facilitative approach" to the Future of Financial Advice (FoFA) opt-in and fee disclosure statement requirements ends today, but forward-thinking practices have nothing to worry about. The deadline was originally June 30, 2014, but it was extended ...