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Showing 21 - 30 of 48 results for adviser disciplinary body

Government to wind up FASEA

KARREN VERGARA  |  WEDNESDAY, 9 DEC 2020
The Financial Adviser Standards and Ethics Authority will be made redundant as two government bodies take over its remit. Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator Jane Hume announced on December 9 that ...

Government backs disciplinary body in principle

KARREN VERGARA  |  MONDAY, 30 NOV 2020
The federal government said it supports the establishment of the new single disciplinary system for financial advisers providing tax advice "in principle" in response to the independent review of the Tax Practitioners Board. In announcing its support ...

FASEA urged to clarify in-house product conflicts

ELIZABETH MCARTHUR  |  THURSDAY, 5 NOV 2020
... 'actual'. It states that if a 'disinterested person'... 'would reasonably conclude'... 'that the arrangements could induce the adviser to act.' This is a textbook definition of a 'perceived' conflict and it is not helpful in terms of achieving the intention ...

Calls to axe TPB for financial advisers

ELIZABETH MCARTHUR  |  FRIDAY, 23 OCT 2020
... ASIC and the TPB. Rather than duplicate them, the single government body should assume these functions. " Tax financial adviser Julie Berry recently departed the TPB, leaving the regulator without a financial advice representative on its board. Financial ...

Cost of advice soars as red tape grows

ELIZA BAVIN  |  WEDNESDAY, 21 OCT 2020
... advice is around $2700, marking a 10% increase on the previous year and reflects the increased cost of operating as an adviser in the current environment. FPA chief executive Dante De Gori said the current wave of reforms sweeping through the financial ...

Advice reforms to be legislated: Hume

ANNABELLE DICKSON  |  WEDNESDAY, 14 OCT 2020
After having previously been placed on hold, the single disciplinary body for financial advisers and the compensation scheme of last resort is set to be legislated by mid-2021. Speaking at the 2020 Association of Financial Advisers Vision Conference ...

Advice disciplinary body delayed

KARREN VERGARA  |  FRIDAY, 28 AUG 2020
Financial advisers will have to wait until June 2021 for the long-awaited disciplinary body that is purported to professionalise the industry. Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator Jane Hume flagged ...

Calls for overhaul of AFSL system

ELIZABETH MCARTHUR  |  WEDNESDAY, 3 JUN 2020
... cost and introduces potential conflicts between the views of the licensee and the professional judgement of the financial adviser. Allowing AFSLs to focus on the regulatory oversight of financial products instead could mitigate this, the association ...

FASEA responds to concerns

ELIZABETH MCARTHUR  |  FRIDAY, 20 DEC 2019
The Financial Adviser Standards and Ethics Authority today released a preliminary response to submissions from stakeholders on its much contested Code of Ethics, attempting to answer some of the many questions raised so far. FASEA consulted with stakeholders ...

New tool launches to help FASEA code compliance

ELIZABETH MCARTHUR  |  MONDAY, 2 DEC 2019
With less than 20 business days until the Financial Adviser Standards and Ethics Authority Code of Ethics comes into effect, some businesses are seeing opportunity. One such organisation is MyNextAdvice, which has launched a solution to help licensees ...