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Showing 21 - 30 of 210 results for "Statements of Advice"

Two more Shield Master Fund advisers banned

MATTHEW WAI  |  FRIDAY, 25 JUL 2025
... class of the Shield Master Fund. Further, D'Amelio and Crossing purportedly created false and misleading Statements of Advice (SoA), implying Shield has had a higher performing track record against other options when, in fact, it had a limited trading ...

ASIC bans advisers for dodgy Shield Master Fund advice

KARREN VERGARA  |  WEDNESDAY, 9 JUL 2025
... Financial Services from 11 October 2017 to 27 December 2021, and from 28 March 2022. ASIC found that Bradley's Statements of Advice (SoA) to certain clients included false and misleading statements that implied clients would enjoy better returns if their ...

FAAA calls for stronger consumer protections in advice reforms

ANDREW MCKEAN  |  WEDNESDAY, 7 MAY 2025
... major reforms, including the Future of Financial Advice and Professional Standards, disclosure obligations in Statements of Advice haven't evolved to reflect advisers' professional judgement requirements. "A principles-based approach and reliance on ...

Federal Court hammers defunct advice firm with $11m penalty

ANDREW MCKEAN  |  MONDAY, 28 APR 2025
... the advisers to the detriment of their clients. Justice Goodman also observed that the asset allocations in Statements of Advice were "strikingly different" from what was suggested, excessively weighted toward real property. ASIC deputy chair Sarah Court ...

Queensland adviser banned for five years

MATTHEW WAI  |  MONDAY, 31 MAR 2025
... application forms, ongoing advice service agreements and authority to proceed documents prior to clients receiving Statements of Advice (SoA). From its findings, ASIC believes that Thomson is not a "fit and proper person", not adequately trained nor ...

DBFO reforms package 'pretty disappointing': FAAA

ANDREW MCKEAN  |  TUESDAY, 25 MAR 2025
... sales." Abood concluded that the section of the draft legislation "we all had high hopes for" - simplifying Statements of Advice (SoAs) - "sadly... is also disappointing." "Analysing the requirements for the new 'Client Advice Record' (CAR) ...

Tranche 2 of DBFO dumps SOAs, enables 'nudges'

JAMIE WILLIAMSON  |  FRIDAY, 21 MAR 2025
... long-awaited Tranche 2 of the Delivering Better Financial Outcomes draft package has been released, switching Statements of Advice for Client Advice Records and clarifying what topics super funds can collectively charge for. However, some elements of ...

Jones flags drafting of Tranche 2 legislation

KARREN VERGARA  |  TUESDAY, 11 FEB 2025
... class of advisers. "But I reaffirm that we are committed to modernising the best interests duty and reforming statements of advice. Just as we are committed to introducing a new class of adviser that any financial firm can employ to give safe advice," ...

South Australian financial adviser slapped with seven-year ban

ANDREW MCKEAN  |  FRIDAY, 6 DEC 2024
... clients' best interests. The corporate regulator added that he gave inappropriate advice, failed to provide Statements of Advice to clients, and made misleading and deceptive representations to clients regarding the high returns they would achieve from ...

Treasury gives Tranche 2 reform package preview

JAMIE WILLIAMSON  |  WEDNESDAY, 4 DEC 2024
... single or limited scope issues where it suits the client's needs, and removes the safe harbour steps. Revamped Statements of Advice are also included in the next round, as is clarity on what advice topics can be paid for through superannuation. Super ...