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Showing 21 - 30 of 746 results for "FoFA"

Westpac to pay $9.5m for Corps Act breaches

JAMIE WILLIAMSON | THURSDAY, 19 DEC 2019

... the 2010 investigation," Wigney said. Wigney said it is tolerably clear that - at least prior to the commencement of the FoFA reforms - some officers or employees of Westpac were either unable or unwilling to terminate the services of a representative ...

ASIC wins appeal against Westpac companies

KANIKA SOOD | MONDAY, 28 OCT 2019

... primarily concerned with the telephone calls. The corporate regulator claimed that the two Westpac companies had breached their FoFA-stipulated best interest duty by advising rollovers to Westpac-related super funds without a proper comparison of options ...

Advice associations slammed

JAMIE WILLIAMSON | THURSDAY, 3 OCT 2019

... "The industry associations have done nothing for the fees advisers have been paying; completely ineffective in changing FSR, FOFA, industry funds, MySuper, TASA, banks' vertical integration and product flogging, LIF, FASEA, dealer fees, PI costs ...

Complexity of grandfathered commissions overlooked

ELIZABETH MCARTHUR | FRIDAY, 27 SEP 2019

... Anderson points out that during the Parliamentary Joint Committee on Corporations and Financial Services Inquiry into the FOFA legislation grandfathering was not the subject of any debate. "A detailed understanding of the history of FOFA helps in understanding ...

REP 515 divides advice community

ELIZABETH MCARTHUR | WEDNESDAY, 28 AUG 2019

... aim of ensuring the availability and affordability of high quality financial advice. "We're certainly struggling on the FOFA initiatives," Anderson said.

Super debate too one dimensional: Rice Warner

HARRISON WORLEY | MONDAY, 26 AUG 2019

... Rice Warner noted the continuous tinkering with the super industry had led to some positive policy outcomes, pointing to the FOFA reforms of 2013 - for revolutionising and "totally disrupting" the financial advice industry - and the introduction of MySuper ...

Down but not out: Top advisers adapt

ELIZABETH MCARTHUR | MONDAY, 26 AUG 2019

... Rainmaker executive director of research Alex Dunnin says. "This is not just due to the impacts of the Royal Commission, FASEA or FoFA, but the combined effects of dramatic change over many years. "Product providers significantly changing their business ...

Frydenberg flags new advice disciplinary system

HARRISON WORLEY | MONDAY, 19 AUG 2019

... Australia's financial regulators to enforce the law," Frydenberg said. "In comparison, the Future of Financial Advice Reforms (FOFA), took almost 23 months from when the Parliamentary Joint Committee on Corporations and Financial Services tabled ...

Final nail in the coffin for grandfathered commissions

KANIKA SOOD | TUESDAY, 30 JUL 2019

... to end the grandfathering of conflicted remuneration." When commissions were banned under the Future of Financial Advice (FoFA) reforms in 2013, the legislation provided a carve out for trail commissions paid on existing investments. However, ending ...

The case for tax deductible advice

JAMIE WILLIAMSON | MONDAY, 3 JUN 2019

... The FPA also cited the requirement for advisers to join the Tax Practitioners Board and the banning of commissions under FOFA as fair motivations.

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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