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| | | South Australian financial adviser Bruce Davis has been banned for seven years by ASIC. Davis, who was the sole director and responsible manager of Wise Investment Advisers, has been barred from providing financial services, controlling an entity that ... |
| | | | MLC will pay close to $65 million to settle a class action that alleged it delayed transferring more than 300,000 members to cheaper MySuper options. Maurice Blackburn has today advised it reached a settlement with MLC Super Fund, NULIS Nominees and ... |
| | | | NEOS has introduced several changes to one of its products that includes updated medical definitions and naming conventions, affecting new and existing customers. From December 6, new and current NEOS Protection policyholders will see changes to critical ... |
| | | | Assistant Treasurer Stephen Jones said the purpose of Tranche 2 of Delivering Better Financial Outcomes (DBFO)- which was previewed earlier this week - is to allow super funds to provide basic financial advice, not to see a repeat of issues raised during ... |
| | | | The government has provided clarity on the second tranche of the Delivering Better Financial Outcomes reforms, offering more detail around what's included and confirming the remit of its 'new class of adviser.' The second package of reforms is aimed ... |
| | | | As the number of AFSL cancellations pile up due to the non-payment of Australian Financial Complaints Authority (AFCA) determinations, far too many financial services firms are taking advantage of the Compensation Scheme of Last Resort (CSLR), treating ... |
| | | | AMP has finalised its divestment of three licensees and support service business to Entireti and AZ NGA as the new owners unveil a revamped leadership team. Some 950 advisers across AMP Financial Planning, Hillross, and Charter Financial Planning now ... |
| | | | The failure of the government to pass its proposed $3 million superannuation tax last week may well see the measure abandoned. The Division 296 tax could be shelved until after the next federal election, missing out on the opportunity to pass during ... |
| | | | The methodology used to calculate compensation for victims of bad financial advice appears to factor in 'opportunity costs' and has drawn the ire of advisers, calling it "unfair" and "unsustainable" for the industry. The "but for" methodology ... |
| | | | The Federal Court has ordered Sasha Hopkins to pay $1.25 million and be disqualified for four years, in proceedings brought by ASIC. The court also ordered that The A Team Property Group, five of the investment schemes and associated companies be wound ... |
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