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Showing 21 - 30 of 105 results for "Grandfathering"

Grandfathered commissions ban splits industry: Poll

KARREN VERGARA  |  MONDAY, 25 FEB 2019
... revenue, latest poll results show. More than half (53%) surveyed by Financial Standard last week said the removal of grandfathering arrangements will have minimal to no impact on the financial viability of their business. Almost an equal number of respondents ...

Labor responds to Royal Commission final report

JAMIE WILLIAMSON  |  MONDAY, 25 FEB 2019
... Responding to the final report, Shadow Treasurer Chris Bowen said the party has already tabled a bill to end the grandfathering of conflicted remuneration. He believes it could be passed as early as March, if extra parliament sitting days are approved. ...

Grandfathered commissions to be banned

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... flow through to clients, ASIC will monitor and report on the extent to which product issuers are acting to end the grandfathering for the period 1 July 2019 to 1 January 2021. The removal of the payments was a key recommendation of Commissioner Kenneth ...

Labor reforms to increase welfare dependency

JAMIE WILLIAMSON  |  THURSDAY, 17 JAN 2019
... implements this policy," Ralston said. She added the proposal is especially harsh as there is no allowance for grandfathering so as to enable investors to amend their strategies over time. Ralston said many will be unaware of the proposed reform's impact ...

Banks vow to end grandfathered commissions

KANIKA SOOD  |  WEDNESDAY, 10 OCT 2018
... no service across the industry. "In addition to these changes the industry is supporting legislation to remove grandfathering provisions in relation to financial advice," Bligh said delivering ABA's response to Commissioner Kenneth Hayne's interim report. ...

Royal Commission interim report flawed

JAMIE WILLIAMSON  |  WEDNESDAY, 3 OCT 2018
... conflict," Wilson said. He added that it seems likely that the final report will include recommendations to abolish grandfathering of conflicted remuneration arrangements as they relate to superannuation and investment products. "What action they recommend ...

Super funds call for grandfathering ban

KARREN VERGARA  |  THURSDAY, 27 SEP 2018
Superannuation funds are rallying to see an end to grandfathered commissions and for the regulator to impose stronger sanctions on those that fail to act in the best interests of members. In its submission to the financial services Royal Commission ...

AFA rejects criticism over grandfathered commissions

JAMIE WILLIAMSON  |  WEDNESDAY, 26 SEP 2018
... grandfathered commissions concerning arrangements in place prior to 1 July 2013 would have a short natural life, and that grandfathering would give firms and the industry the opportunity to adjust their business models. Grandfathered payments have, however ...

BTFG will pay back grandfathered commissions to customers

KANIKA SOOD  |  WEDNESDAY, 25 JUL 2018
... commissions if it believed so strongly in it, Wright threw back to FoFA five years ago. "There were two components to grandfathering and I think the industry forgot one of them, which was allowing the opt-in of ongoing advice relationships, pre-FoFA ...

BT Financial Advice cuts grandfathered commissions

JAMIE WILLIAMSON  |  WEDNESDAY, 20 JUN 2018
... for the continuation of payments agreed to prior to 1 July 2013. "It was generally understood at the time that grandfathering of those arrangements was necessary, at least in part, because legislators could not extinguish existing contractual rights ...