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Showing 11 - 20 of 51 results for "Industry Funding"

Industry funding model discussion commences

JAMIE WILLIAMSON  |  FRIDAY, 30 SEP 2022
The government has released a discussion paper on the ASIC industry funding model, consulting on opportunities to simplify its design, possibly through the creation of new sub-sector definitions to make the apportioning of costs fairer. Treasury is ...

Remediation bills revealed amid call for levy freeze extension

JAMIE WILLIAMSON  |  WEDNESDAY, 24 AUG 2022
... actions against them. The levy is currently set at the 2018-19 level of $1142 per adviser. While a review of the industry funding model has been announced, the FPA said it's not confident any changes can be made and implemented in time to impact this ...

Review of ASIC funding model begins

ANDREW MCKEAN  |  TUESDAY, 9 AUG 2022
The government has commenced a review of the ASIC Industry Funding Model, issuing terms of reference. An update from Treasury said the review will be forward looking and focused on identifying refinements to the industry funding model. Treasury added ...

Advice requirements confusing, complex: JAWG

ANDREW MCKEAN  |  TUESDAY, 21 JUN 2022
... profession-wide position on the tax deductibility of initial and ongoing advice fees and a review of the ASIC industry funding model was also prescribed. Of note, as previously reported on by Financial Standard, ASFA also called for greater detailing ...

ASIC bolsters leadership

JAMIE WILLIAMSON  |  TUESDAY, 14 DEC 2021
... finance strategy and projects, management accounting, statutory reporting, finance systems, compliance advisory, industry funding, financial operations and unclaimed monies. Meanwhile, Nicole Collins has been appointed chief people officer. She is responsible ...

Financial adviser levy to drop

JAMIE WILLIAMSON  |  MONDAY, 30 AUG 2021
... Body and a Compensation Scheme of Last Resort," Frydenberg and Hume said. Treasury will also review the ASIC Industry Funding Model, commencing in 2022, in consultation with the Department of Finance and ASIC. Responding to the news, Financial Planning ...

Broken advice industry shuns everyday Aussies: AFA

KARREN VERGARA, ANNABELLE DICKSON  |  THURSDAY, 29 JUL 2021
... since the Hayne Royal Commission have driven up the costs of running a practice, this includes ASIC's growing industry funding levy, and consequently pushed up the price of paying for advice. The hearing's chair MP Tim Wilson said: "If the only ...

ASIC industry levy to increase

KARREN VERGARA  |  FRIDAY, 23 JUL 2021
Financial advisers will need to fork out an extra 27% to pay the regulator's industry funding levy for the 2021 financial year. Advisers will pay $71.354 million in aggregate or $3138 on a per adviser basis plus a fixed amount of $1500 per licence ...

Adviser levy to increase by 160%

ELIZABETH MCARTHUR  |  FRIDAY, 5 MAR 2021
... penalties and fines are diverted to consolidated revenue rather than offsetting ASIC's costs. They also noted ASIC's industry funding model had not changed despite major shifts in the financial advice sector, with banks largely exiting advice. Yet ASIC's ...

FPA accuses ASIC of price gouging

ELIZA BAVIN  |  MONDAY, 15 JUN 2020
... Association of Australia has hit back at the corporate regulator accusing it of price gouging after increasing the industry funding levy for financial advisers by 38%. The FPA has urged the corporate regulator to reconsider the 38% increase to the ASIC ...