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Showing 371 - 380 of 746 results for "FoFA"

ASFA calls for clarity on Labor's super law freeze

JAMES FERNYHOUGH  |  THURSDAY, 1 AUG 2013
... industry is currently in the process of implementing significant regulatory changes as a result of the Stronger Super and FoFA reforms as well as other tax legislative measures," she said, urging regulators to work closely with the industry in this process. ...

Best Interest drives advisers away from products

LAURA MILLAN  |  MONDAY, 29 JUL 2013
The Best Interest Duty provision of the Future of Financial Advice (FoFA) regulation is designed to make planners give comprehensive advice in a process where recommending a product is "the last piece of the puzzle." At the end of the advice process ...

FoFA could lock advisers into licensees for life

LAURA MILLAN  |  FRIDAY, 26 JUL 2013
The additional Future of Financial Advice (FoFA) regulations concerning the grandfathering provision could lock advisers into their licensee's dealership for life, consultancy firm Radar Results said. Industry bodies are already lobbying for changes ...

AFA to release code of conduct this year

LAURA MILLAN  |  WEDNESDAY, 24 JUL 2013
... ASIC and will allow advisers to provide opt-in under the AFA code of conduct, and not under the Future of Financial Advice (FoFA) regulation. "We must earn the right to be considered a profession by our behaviours and everything that we do," the AFA ...

Centrepoint spent $4.9 million in client claims

LAURA MILLAN  |  WEDNESDAY, 24 JUL 2013
... over compliance concerns and audit functions. Centrepoint also spent $586,000 to implement the Future of Financial Advice (FoFA) legislation, as well as $426,000 on terminations of executive staff. Centrepoint-owned PIS has experienced a fall of adviser ...

Scaled advice to shape industry future

LAURA MILLAN  |  TUESDAY, 23 JUL 2013
The Future of Financial Advice (FoFA) reforms will bring an increase of demand for scaled advice over the long term and the cost of advice will go down, Rice Warner research commissioned by Industry Super Network (ISN) found. The report based on modelling ...

Grandfathering uncertainty already affecting businesses

LAURA MILLAN  |  MONDAY, 22 JUL 2013
... feeling the consequences of the uncertainty around the grandfathering provisions within the new Future of Financial Advice (FoFA) regulations with planners hesitant to change licensees until the legislation is clearer. Synchron Group director John Prossor ...

ASIC's powers heightened under FoFA

LAURA MILLAN  |  WEDNESDAY, 17 JUL 2013
... and Investments Commission (ASIC) will act more strongly on cases of misconduct in the wake of Future of Financial Advice (FoFA) the regulator said. The new FoFA regulation has allowed ASIC to take civil penalty actions, whereas until now the regulator ...

OneVue strenghtens platform offering

LAURA MILLAN  |  WEDNESDAY, 17 JUL 2013
... Unified Managed Account platform as part of its strategy to ensure greater compliance with the Future of Financial Advice (FoFA) reforms. The platform will offer two separate investment package options from August 2013. WRAP+ and UMA VANTAGE will incorporate ...

Self-education cap "short sighted": SPAA

LAURA MILLAN  |  TUESDAY, 16 JUL 2013
... and participating in courses. "A quick check of what's involved for SPAA members to remain at the top of their game in a FoFA environment clearly indicates that the $2000 cap is totally inappropriate and misunderstands the costs of professionalism," ...