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Showing 21 - 30 of 293 results for "Levy"

FCA mulls capital requirements for firms giving bad advice

ANDREW MCKEAN  |  THURSDAY, 30 NOV 2023
... consumers have access to support from financially resilient advice firms. "Diligent advisers are having to compensate through the levy for the bad advice of their failed competitors. That needs to change. It is important that the polluter pays," Pritchard ...

Treasury unveils advice reforms draft legislation

KARREN VERGARA  |  TUESDAY, 14 NOV 2023
... Labor was serious about cutting red tape from financial advice, they would prioritise implementing the recommendations of the Levy Review, in full," he said. Financial Services Council chief executive Blake Briggs said the first tranche of legislation ...

Adviser levy discount amounts to $8m saving

KARREN VERGARA  |  FRIDAY, 10 NOV 2023
Financial advisers are set to pay $400 less in the ASIC funding levy, saving the industry $8 million in total, according to new estimates from the Financial Advice Association Australia (FAAA). Based on two legislative instruments dated November 3 ...

FAAA celebrates membership renewals, anticipates more

ANDREW MCKEAN  |  TUESDAY, 4 JUL 2023
... important in advocacy, where there are plenty of issues on the FAAA agenda: including the unreasonable hike in the ASIC industry levy, the continuing consultation with the government on implementing the recommendations of the Quality of Advice Review ...

Adviser levy tripled, labelled "deeply unfair"

JAMIE WILLIAMSON  |  THURSDAY, 29 JUN 2023
The estimated ASIC levy for this financial year will see financial advisers slugged $3217, as the levy freeze comes to an end. Under the estimated levies released yesterday, the levy to be paid per adviser has almost tripled from the $1142 that it was ...

Jones lifts adviser levy freeze, updates funding model

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
The federal government will lift the financial adviser levy freeze as it unveils recommendations that make minor changes to the industry funding model following a review. Assistant treasurer and minister for financial services Stephen Jones yesterday ...

CSLR finally passes senate

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
... government will fund the costs to establish the body that will operate the CSLR, including funding the costs of the first levy period through to the end of the 2023-24 financial year. "The scheme will then be funded by industry for future years," he ...

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

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
... leeway to provide retirement advice and information to their members, as accepted in principle as part of Recommendation 6. Levy said trustees should be able to provide personal advice to their members about their interests in the fund, including when ...

Treasury proposes upping supervisory levies

ANDREW MCKEAN  |  FRIDAY, 26 MAY 2023
... operational resilience of these institutions. The life insurance sector, including friendly societies, also saw a modest rise in levy funding, from $20 million to $20.4 million. APRA will focus on the long-term sustainability of individual disability ...

Abolishing FDSs a major win: Panel

KARREN VERGARA  |  TUESDAY, 16 MAY 2023
... there's a strong reason for why we should be wanting to get rid of FDSs," he said. Quality of Advice Review chair Michelle Levy recommended the elimination of FDSs in her February report. Instead, she wrote, advisers should provide a single annual ...