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Showing 191 - 200 of 261 results for "General advice"

FoFA future uncertain as Palmer threatens to join opposition

LAURA MILLAN  |  MONDAY, 30 JUN 2014
... interests' duty that asked advisers to provide "appropriate" advice to their clients." It also bans commissions in general advice by specifying that recurring payments and payments for recommending a single financial product or commissions are considered ...

Ripoll labels Cormann's FoFA changes "a stunt"

LAURA MILLAN  |  FRIDAY, 20 JUN 2014
... stunt" was Labor MP Bernie Ripoll's first reaction to the government's announcement that it will ban commissions on general advice. "Commissions have already been banned. By Labor," Ripoll said on Twitter. "Liberals say they will ban commissions in financial ...

Advisers applaud "historic" ban on commissions

LAURA MILLAN  |  FRIDAY, 20 JUN 2014
... advice associations and the Financial Services Council (FSC) have applauded the "historic" ban on commissions in general advice and welcomed the government's changes to the Future of Financial Advice (FoFA) law. "We are extraordinarily pleased, we have ...

Government to pass most FoFA changes through regulation

LAURA MILLAN  |  FRIDAY, 20 JUN 2014
... controversial of the government's proposed amendments to FoFA. The initial commissions' exemption on the provision of general advice "is not and never has been designed to bring back commissions for financial advisers," the government said. Both legislation ...

SPAA voices concern over conflicted remuneration

LAURA MILLAN  |  THURSDAY, 19 JUN 2014
... government could seriously weaken the policy intent of FoFA to protect consumers". Slattery asked for a "removal of the general advice provisions in favour of a simple distinction between sales information and personal advice." "What needs to be done ...

FoFA changes designed to protect big players: opposition

LAURA MILLAN  |  TUESDAY, 17 JUN 2014
... consumer confidence and improved uptake of financial services and towards the provision of personal advice over general advice." The ISA referred to "strenuous concerns raised by consumer and senior groups, academics and industry super funds" and noted ...

Senate report supportive of government FoFA reforms

LAURA MILLAN  |  TUESDAY, 17 JUN 2014
... asked for the current law to be changed "to remove the unnecessary complications associated with the provision of general advice." Read all Financial Standard coverage of the FoFA legislation here Read the Senate Economics Committee FoFA inquiry report ...

Senate FoFA conclusions expected today

LAURA MILLAN  |  MONDAY, 16 JUN 2014
... planning groups are asking for the legislation to specifically ban commissions and to clearly separate personal and general advice. But banks, the main providers of general advice, argue that an exemption to receive commissions in this area will guarantee ...

New FoFA will not bring back old commissions: FactCheck

STAFF WRITER  |  MONDAY, 2 JUN 2014
... would enable that to happen." FactCheck said that the proposed changes to FoFA "will only apply to some forms of general advice, they do not bring back old-style commissions." "Mr Bowen is scaremongering," the program concluded.

Banks support the "original" FoFA intent: ABA

LAURA MILLAN  |  MONDAY, 26 MAY 2014
... Industry Super Australia (ISA) accused banks of lobbying to water down the law and to reintroduce commissions in general advice. The bankers' organisation argued that the sector is only seeking "technical amendments which will clarify and simplify the ...