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Showing 351 - 360 of 4234 results for "LIC"

Adviser exam pass rate improves

MATTHEW WAI  |  MONDAY, 9 DEC 2024
Of the 289 candidates who attempted the latest exam sitting, close to 80% passed. The most recent sitting of the Financial Advisers Exam took place on November 6, with 225 out of 289 candidates passing. It represents a pass rate of 77% and is a significant ...

South Australian financial adviser slapped with seven-year ban

ANDREW MCKEAN  |  FRIDAY, 6 DEC 2024
South Australian financial adviser Bruce Davis has been banned for seven years by ASIC. Davis, who was the sole director and responsible manager of Wise Investment Advisers, has been barred from providing financial services, controlling an entity that ...

Super funds should focus on 'simple' advice: Jones

ELIZA BAVIN  |  FRIDAY, 6 DEC 2024
Assistant Treasurer Stephen Jones said the purpose of Tranche 2 of Delivering Better Financial Outcomes (DBFO)- which was previewed earlier this week - is to allow super funds to provide basic financial advice, not to see a repeat of issues raised during ...

More work to do on reportable situations compliance, ASIC says

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
Licensees are generally slow to report to ASIC because of deficient internal processes and poor monitoring of compliance with the reportable situations regime, a review found. Recent surveillance by ASIC found financial services and credit licensees ...

Treasury gives Tranche 2 reform package preview

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
The government has provided clarity on the second tranche of the Delivering Better Financial Outcomes reforms, offering more detail around what's included and confirming the remit of its 'new class of adviser.' The second package of reforms is aimed ...

Cbus lacks stringent director, expenditure policies: Deloitte

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
An independent review by Deloitte has found little evidence to suggest Cbus' pricey relationship with the CFMEU is in the best financial interests of members. It also found the fund's processes for determining the propriety of board directors ...

Trustees, advisers have 'insufficient focus' on performance

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
ASIC commissioner Alan Kirkland had told financial advisers and superannuation trustees that more needs to be done to ensure better retirement outcomes for Australians. It comes after ASIC released its superannuation choice products and their focus ...

Half of advice, super complaints result in no remedy

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
ASIC has released its first publication of industry-wide data reported under the internal dispute resolution (IDR) data reporting framework, flagging concerns firms are not reporting data accurately. Under the IDR framework, most licensed financial ...

MSC Trustees names general manager

ELIZABETH FRY  |  MONDAY, 2 DEC 2024
MSC Group, the trustee services provider, has added a custody business lead and a relationship manager to its team. The firm - which specialises in responsible entity and fund trusteeship services - has appointed Chris Morpeth as the general manager ...

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA  |  MONDAY, 2 DEC 2024
As the number of AFSL cancellations pile up due to the non-payment of Australian Financial Complaints Authority (AFCA) determinations, far too many financial services firms are taking advantage of the Compensation Scheme of Last Resort (CSLR), treating ...