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| | | The heavy hand of the law and cost to run a profitable business are the two major worries of financial advisers, a new BT survey shows. Compliance burdens and constant legislative change are keeping financial advisers awake at night as 38% cited regulation ... |
| | | | The first tranche of the Delivering Better Financial Outcomes (DBFO) legislation passed both the upper and lower houses yesterday. Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Bill aims to reduce red tape for financial ... |
| | | | Sequoia Financial Group's head of professional services, who worked with a group that attempted to overthrow the current leadership, has left the firm as part of an executive and structural shake-up. Brent Jones was appointed as head of Sequoia's professional ... |
| | | | ... its abilities and it is time to consider other models, or even new entities, to administer these parts of Australia's law." The committee also said there's too many shortcomings when it comes to the handling of reports of alleged corporate misconduct ... |
| | | | ... 'employee' is not defined in the Taxation Administration Act (TAA), therefore it has its ordinary meaning under common law. "In most cases, it will be self-evident whether an employer and employee, or principal and independent contractor, relationship ... |
| | | | The Takeovers Panel declared that rogue shareholders, which include Glennon Capital, seeking to gain control of Sequoia Financial Group were not transparent about their relationship and breached substantial shareholder laws. In an update to the ASX ... |
| | | | ASIC has cancelled the licence of Guildfords Funds Management and banned its managing director Robert Payne for their involvement in the collapse of Magnolia Capital Group. ASIC found "significant and systemic failures of oversight and compliance" upon ... |
| | | | ... legislation, passed both houses of Parliament. Currently, NALE rules apply to all complying superannuation entities. Under the new law, these will no longer apply to large APRA-regulated funds, exempt public sector superannuation funds, pooled superannuation ... |
| | | | The financial advice profession "lacks consistent protocols" for handling suspected financial abuse and there are insufficient whistleblower protections, according to the Financial Advice Association Australia (FAAA). In its submission to the Parliamentary ... |
| | | | ... cost of financial product advice that are fees charged to member concerned - which will be amended if the bill is passed. The law states that trustees must not directly or indirectly pass the cost of providing financial product advice on to the member ... |
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