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Showing 141 - 150 of 153 results for "Interest Duty"

ASIC releases FOFA guidance plan

ELISE BURGESS  |  TUESDAY, 13 DEC 2011
ASIC will release regulatory guidance on best interest duty, scaled advice, conflicted remuneration and ASIC powers before July 1 2012, the regulator said today. The Australian Securities and Investments Commission (ASIC) has released its regulatory ...

Consolidation creating conflict between product and advice

RACHEL DAVIS  |  THURSDAY, 1 DEC 2011
... Premium Wealth already has very strong best principles in practice and the impact of the recently announced Best Interest Duty is limited, however he believes the aspects are likely to be disputed by the industry. "We believe the Best Interest Duty is ...

Industry hits out at Best Interest

CLAIRE MCGREAL  |  FRIDAY, 25 NOV 2011
The Financial Services Council has slammed the government's Best Interest Duty proposal as being "unworkable", warning that in its current form, would give rise to "significant unintended consequences". The contentious proposal, which was tabled in ...

FOFA Tranche 2 reforms tabled in Parliament today

ELISE BURGESS  |  THURSDAY, 24 NOV 2011
... banning of conflicted remuneration payments that influence financial advice proposals and amendments to the Best Interest Duty. Under the FOFA proposal to ban on conflicted remuneration to risk insurance, the Government has requested to ban up-front ...

Industry funds not our focus: Cormann

ELISE BURGESS  |  WEDNESDAY, 26 OCT 2011
Opt-in, best interest duty and the renewed call for pressure on public policy were under the spotlight as advisers gathered to hear from the Opposition on the introduction of reforms in the advice industry. Senator and shadow assistant treasurer, Mathias ...

Industry panel turns up FOFA heat

RACHEL DAVIS  |  MONDAY, 24 OCT 2011
... principal, Alexis Compliance Risk Solutions, threw down the gauntlet with her uncompromising view that opt-in and best interest duty are both "a waste of time". "Why do we need opt-in when the industry has been operating with terms of engagement already," ...

MLC head calls for truce after laying blame at industry funds door

MATT WOODINGTON  |  THURSDAY, 22 SEP 2011
... rather than the segment in which they are labelled. "With the removal of commissions, and the introduction of a best interest duty and two year opt-in process, the campaign the industry funds have run against retail superannuation and financial advice ...

ISN submission targets advice requirement

ELISE BURGESS  |  TUESDAY, 20 SEP 2011
... advice. ISN said such standards were long overdue and had already come some way to address the issue with the Best Interest Duty proposal and the move to increase the Australian Securities and Investments Commissions (ASIC) powers.

FOFA levels playing field: ANZ Wealth

ELISE BURGESS  |  MONDAY, 5 SEP 2011
The FOFA best interest duty proposals will level the playing field with advisers free to compete with super funds for intrafund advice clients, according to Paul Barrett, general manager advice and distribution, ANZ Wealth. The best interest test, as ...

ASIC looks to reshape retail advice

ELISE BURGESS  |  FRIDAY, 29 JUL 2011
... how Best Interest' duty will be incorporated. "In releasing this consultation paper without incorporating the Best Interest Duty, ASIC may actually cause further confusion rather than guidance or clarification for consumers and the profession," said ...