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Showing 31 - 40 of 88 results for "Fee disclosure statement"

ASIC bans RC case study adviser

HARRISON WORLEY | TUESDAY, 12 MAY 2020

A former Millennium3 adviser whose advice was cited as a case study during the Royal Commission is set to appeal a 10-year ban handed down by ASIC. ASIC has banned Adelaide-based adviser Christopher Norman Harris from providing financial services for ...

Compliance worse than COVID-19

ALLY SELBY | THURSDAY, 23 APR 2020

Regulatory and compliance burden is a bigger challenge and disruption for financial advisers than COVID-19, the global pandemic that has ripped both economies and lives to shreds. In an interview with Financial Standard, Investment Trends research director ...

ASIC drags NAB to court for fees-for-no-service

HARRISON WORLEY | TUESDAY, 17 DEC 2019

... as a "systematic failure" by the regulator. "When the fees-for-no-service misconduct is coupled with fee disclosure statement inadequacies or failings, customers are potentially placed in a more disadvantageous position," Crennan said. "The customer ...

AFSLs show widespread non-compliance: ASIC

ELIZA BAVIN, JAMIE WILLIAMSON | THURSDAY, 28 NOV 2019

... long after ongoing fee arrangements have been terminated, ASIC has found. The report, Compliance with fee disclosure statement and renewal notice obligations, focused on whether the fee disclosure documents, provided by 30 randomly selected Australian ...

YBR to remediate wealth clients

KARREN VERGARA | FRIDAY, 30 AUG 2019

... ASX-listed firm identified some advice clients with ongoing fee arrangements may not have received a fee disclosure statement or a renewal notice within the time limits prescribed by the Corporations Act. YBR said it made a provision for $928,000 and ...

ASIC to crack down on platform fees

ELIZABETH MCARTHUR | WEDNESDAY, 14 AUG 2019

... which fees to include in the fee disclosure statements. ASIC's concerns with platforms' compliance with fee disclosure statement requirements are lengthy, extending to questions around whether fee disclosures were given to clients by financial advisers ...

Adviser stole $200k from SMSFs

ELIZABETH MCARTHUR | TUESDAY, 6 AUG 2019

The Australian Securities and Investments Commission (ASIC) permanently banned a former financial adviser who stole more than $200,000 from client self-managed superannuation funds. Robert Michael of Bentleigh, Victoria has been permanently banned from ...

Advice practice supply outweighs demand

JAMIE WILLIAMSON | MONDAY, 13 MAY 2019

The valuation gap between high-quality financial advice businesses and conventional practices is growing, with the sector quickly turning into a buyers' market. Latest insights from Radar Results show the valuation gap between high-quality practices ...

NAB signals more bad advice remediation

KARREN VERGARA | THURSDAY, 1 NOV 2018

Among its FY18 results, National Australia Bank flagged that bad advice and fees for no service remediation will continue to dampen its future financial performance. Numerous contingent liabilities and potentially paying out more compensation plagued ...

ASIC to review FDS compliance

HARRISON WORLEY | TUESDAY, 16 OCT 2018

ASIC will review financial advice fee disclosure statements and renewal notices, after licenses submitted breach reports to the extent the corporate regulator is concerned about systemic non-compliance. The FDS review will examine to what extent advice ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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