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Showing 361 - 370 of 1725 results for "Provisio"

FASEA to reword Standard 3

KARREN VERGARA  |  WEDNESDAY, 3 NOV 2021
The Financial Adviser Standards and Ethics Authority has opened a round of consultation to amend the wording of Standard 3. Following concerns raised by the industry, FASEA is now asking stakeholders what they want the wording of Standard 3 to state ...

AMP officially exits life market

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 NOV 2021
With the complete divestment of its equity interest in Resolution Life, AMP has officially exited the life insurance business. AMP today divested its 19.13% holding in Resolution Life for $524 million. The sale of this holding completes AMP's exit ...

Major legislations hit parliament

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
Two major pieces of legislation have been introduced in parliament, including the Compensation Scheme of Last Resort. The scheme facilitates the reimbursement of up to $150,000 to compensate consumers affected by bad personal advice, credit intermediation ...

ASIC sues former Freedom Insurance staff

KARREN VERGARA  |  MONDAY, 25 OCT 2021
A former Freedom Insurance director and consultant will head to Federal Court for their alleged involvement in aggressive sales tactics. ASIC has commenced civil penalty proceedings against former Freedom Insurance managing director of Keith Cohen and ...

Better Advice Bill gets green light

KARREN VERGARA  |  FRIDAY, 22 OCT 2021
The landmark Better Advice Bill, which introduces a new disciplinary body, passed the senate overnight. Under the Financial Sector Reform (Hayne Royal Commission Response-Better Advice) Bill 2021 (Better Advice Bill), from 1 January 2022, the Financial ...

Former Spectrum chief cops additional bans

KARREN VERGARA  |  WEDNESDAY, 20 OCT 2021
Former Spectrum Wealth Advisers chief executive Mark Schroeder has been slapped with banning orders in addition to his six-year ban from providing financial services. The Administrative Appeals Tribunal amended ASIC's banning order that was handed down ...

FSC advice reforms slash time, costs by 30%

KARREN VERGARA  |  TUESDAY, 12 OCT 2021
The reforms proposed by the Financial Services Council could reduce the time and cost to produce financial advice by more than 30% respectively. Modelling provided by KPMG Australia estimates that advisers incur $5334 to provide advice and spend 23.9 ...

Perpetual acquires Laminar Capital

ELIZABETH MCARTHUR  |  TUESDAY, 5 OCT 2021
Perpetual has acquired Laminar Capital, a specialist debt markets and advisory business with funds under management and advice of $8 billion. In addition to its debt markets and advisory business, Laminar has a specialist fixed income digital platform ...

Adviser exam cost jumps under new bill

KARREN VERGARA  |  THURSDAY, 30 SEP 2021
The Better Advice Bill is proposing several changes to the mandatory financial advice exam, including substantially increasing the cost of each sitting. The Financial Sector Reform (Hayne Royal Commission Response-Better Advice) Bill 2021 exposure draft ...

What will it take to get super on parental leave?

ELIZABETH MCARTHUR  |  MONDAY, 20 SEP 2021
Employers and the government are failing parents, costing mothers $1.6 billion in superannuation, according to new research from Industry Super Australia. Many employers, even large companies, still fail to pay parents parental leave - forcing them ...