The latest issue of Financial Standard now available as an e-newspaper

READ NOW

Search Results

Showing 21 - 30 of 121 results for "Interests Duty"

Industry bodies respond to QAR recommendations

KARREN VERGARA | TUESDAY, 13 JUN 2023

... advice industry. The removal of Fee Disclosure Statements, rationalisation of fee consent, eradicating the Best Interests Duty Safe Harbour steps, were quick wins for the Financial Advice Association of Australia (FAAA). "These phase one responses show ...

Treasury to scrap advice admin burdens, boosts intra-fund advice

KARREN VERGARA | TUESDAY, 13 JUN 2023

... provide to members and the restrictions on collective charging of fees should be removed," she said. "The new best interests duty would be a true fiduciary duty that reflects the general law and will not include a safe harbour. This duty will apply only ...

Adopt QAR recommendations now: Levy

CASSANDRA BALDINI | TUESDAY, 2 MAY 2023

... not have a duty to act in the best interests of the client," she said. "But this is not a retrograde step. A best interests duty will apply to professional financial advisers - this is what it was intended for." However, this particular recommendation ...

QAR does not "trash" FoFA: Anderson

CASSANDRA BALDINI | TUESDAY, 7 MAR 2023

... legislated BID however after much industry feedback Michelle Levy amended her final report to recommend a Statutory Best Interests Duty. "We now have nearly 10 years of experience with the BID, so a sensible review of it is long overdue," Anderson said. ...

Put controls in place for super funds: Associations

CASSANDRA BALDINI | THURSDAY, 9 FEB 2023

... are able to employ "non-qualified persons" to give personal advice and not be held to FASEA standards or the best interests duty. "So, the government of the day paid a large sum of money to an organisation to write a report to ignore the recommendations ...

"A lawyer's picnic": QAR report slammed

JAMIE WILLIAMSON | THURSDAY, 9 FEB 2023

... note, CHOICE's Alan Kirkland said the report is a recipe for another Royal Commission, adding that the new best interests duty for advisers and Good Advice Duty for institutions will be a "lawyer's picnic". "The biggest scandals in financial advice have ...

Treasury releases Quality of Advice Review final report

CASSANDRA BALDINI, JAMIE WILLIAMSON | WEDNESDAY, 8 FEB 2023

... surprises, however her recommendations include the introduction of both a Good Advice Duty and a Statutory Best Interests Duty. The 267-page final report, released today, includes 13 primary recommendations for making financial advice more affordable ...

Current legislation "wrong way around": Levy

CASSANDRA BALDINI | THURSDAY, 22 SEP 2022

Quality of Advice Review chair Michelle Levy believes providing financial advice with a focus on best interests duty and duty of priority is doing things the wrong way. Commenting on her proposal to replace the best interests duty and duty of priority ...

BFID no hindrance to helping vulnerable members: Panel

CHLOE WALKER | WEDNESDAY, 7 SEP 2022

... more for vulnerable members, while ASIC commissioner Danielle Press agreed and pointed out that the best financial interests duty actually allows for different members to be treated differently. "Vulnerability can be intrinsic or as a result of factors ...

A sensible roadmap: Industry responds to QAR paper

JAMIE WILLIAMSON | MONDAY, 29 AUG 2022

... financial advice sector, making advice more affordable and accessible. Her recommendations include removing the best interests duty, removing the requirement to provide Statements of Advice, and allowing superannuation funds to provide personal financial ...

PAGE:

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.

Videos

Brought to you by

Follow the leaders

Global economic outlook and the case for local currency emerging market debt: Resilience, risk, and opportunity

A guaranteed future

Maintaining a fundamental focus in a world obsessed with the short term

Strength amid noise

The market has changed. The opportunity hasn't.

SMILE through retirement - tackling the top 5 (Sequencing, Market, Inflation, Longevity, Emotion) retirements risks

MORE VIDEOS

Products

'Guide To' Series

Pocket investment guides featuring adviser case studies and a glossary.

MORE INFO

Publisher's Forum

Investing trends and strategies from the industry’s thought leaders.

MORE INFO

Product Showcases

Putting the spotlight on investment products that matter.

MORE INFO

Expert Feed

Christian Mueller-Glissmann

Head of Asset Allocation Research

Goldman Sachs

When geopolitics becomes a portfolio risk

Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.

READ MORE

Tania Milnes

General Manager Membership

Financial Advice Association Australia

Does association membership still matter?

With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...

READ MORE