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| | | ... Since ASIC's surveillance, AFSL Group has applied for reinstatement of its AFCA membership. Both QFML and ASFL Group may apply to the Administrative Appeals Tribunal for a review of ASIC's decision. |
| | | | ... mainstream products would be reduced and the client fact find would also be simplified. The same consumer protections would apply under the new regime as they do to holistic advice. "We expect that these changes, along with the Consumer Duty, should ... |
| | | | ... sure new financial advisers are issued an exam eligibility number in time to book for an exam, their AFS licensee should apply for an exam eligibility number through the ASIC Regulatory Portal no later than 15 days before the last day of the booking ... |
| | | | The carve out from the Your Future, Your Super (YFYS) performance test for faith-based funds has been axed by the government, despite it being an election policy. In December 2021, the government said it would adjust the performance test to account ... |
| | | | ... commissioner Sean Hughes said: "SMSF auditors have a fundamental role in promoting confidence in the SMSF sector." "ASIC will apply a range of regulatory tools against SMSF auditors who fail to meet the independence and auditing standards or whose conduct ... |
| | | | ... labels'. The primary label will relate to the product type - ETF or structured product - while the secondary label will apply for products with specific risk or strategies - like 'active' or 'complex'. The definitions of 'active' and 'complex' have also ... |
| | | | ... advice, so that remains," she said. "That has the risk that you get less advice. So, you need to then adjust the duties that apply to that personal advice. And again, you've got to look at the full universe of people that will be giving that advice. ... |
| | | | ... workers." The rule will be effective 60 days after its publication in the Federal Register. The DOL rule change does not apply to public pension plans, because their governance falls outside of the Employee Retirement Income Security Act (ERISA). Some ... |
| | | | ... consumers would have to be able to set their own spending limits, fee caps would be included, and an "unsuitability test" would apply. Depending on the route taken, the government would also look to improve users' financial literacy, with greater educational ... |
| | | | ... general advice relating to derivatives, and foreign exchange contracts to retail and wholesale clients. FTX Australia can apply to the Administrative Appeals Tribunal for a review of ASIC's decision. Although, ASIC is encouraging clients of FTX Australia ... |
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