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Showing 4331 - 4340 of 6884 results for "Act2"

FoFA amendments will reduce quality of advice: lawyer

JAMES FERNYHOUGH  |  TUESDAY, 11 MAR 2014
The government's proposal to amend the best interest duty section of the Future of Financial Advice (FoFA) reforms are "inconsistent with the nature of a best interests duty" and will "reduce the overall quality of financial advice", according to legal ...

Tax advisers in need of additional PI insurance

LAURA MILLAN  |  TUESDAY, 11 MAR 2014
... open for submissions until April 6, 2014. The document was issued by the TPB ahead of the start of the Tax Agent Services Act (TASA) in July 1, 2014, which requires financial advisers to become registered tax agents if they provide tax advice. The organisation ...

SPAA calls for reduction in SMSF levy

JAMES FERNYHOUGH  |  MONDAY, 10 MAR 2014
The Australian Taxation Office's (ATOs) annual levy on self-managed superannuation funds (SMSFs) should be reduced in the May budget, according to the SMSF Professionals' Association of Australia (SPAA). SPAA's senior manager, technical and policy ...

Advisers to complete 60 extra education hours under TASA

LAURA MILLAN  |  MONDAY, 10 MAR 2014
... complete a minimum of 60 hours of continuing professional education (CPE) in three years as part of the Tax Agent Services Act (TASA) 2009 legislation. The TPB released Exposure Draft Explanatory Paper D5/2014 on proposed CPE policy requirement for registered ...

Advice industry under-prepared for younger client base

MARK SMITH  |  FRIDAY, 7 MAR 2014
The professional advice industry is facing a seismic demographic shift that it is ill-prepared for, according to the chief executive of Pershing Advisor Solutions, Mark Tibergien. "The industry is fundamentally built on baby boomers but there is a demographic ...

New laws target promoters of early release schemes

JAMES FERNYHOUGH  |  FRIDAY, 7 MAR 2014
The senate has passed a bill allowing promoters of illegal early release schemes to be prosecuted. The bill is targeted at individuals or organisations that charge a fee for aiding clients in illegally accessing their superannuation before the preservation ...

Industry overestimates amount needed for retirement

MARK SMITH  |  THURSDAY, 6 MAR 2014
The amount needed to fund the average retirement is much lower than the global pension industry currently estimates, research from Morningstar shows. Using US government data and a "fairly simple" market and mortality model, the investment researcher ...

Financial Adviser convicted of 'tombstoning': ASIC

HARRY PAGE  |  THURSDAY, 6 MAR 2014
The Australian Securities and Investments Commission (ASIC) has convicted Pavan Vyas for dishonest conduct after pleading guilty to 'tombstoning'. In August 2013, Vyas pleaded guilty to two charges of dishonest conduct after 'tombstoning', which involves ...

Ray King added to Ashington super fund court case

JAMES FERNYHOUGH  |  THURSDAY, 6 MAR 2014
Claims for damages have risen to $14 million and a new defendant has been added to a court case against four prominent super fund - Mercer partner Ray King. The case relates to the collapse of Ashington property group in 2011. Ashington founder Craig ...

Women on boards have no influence in performance

LAURA MILLAN  |  TUESDAY, 4 MAR 2014
The appointment of women in boards does not necessarily affect company performance or shareholder behaviour, research by University of New South Wales professor RenA(C)e Adams has found. Adams, who was speaking at the Platypus Asset Management Symposium ...