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Showing 521 - 530 of 1237 results for "licensees"

AFSLs show widespread non-compliance: ASIC

ELIZA BAVIN, JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2019
AFS licensees are consistently failing to provide correct information about advice fees to clients and are potentially still charging fees long after ongoing fee arrangements have been terminated, ASIC has found. The report, Compliance with fee disclosure ...

APRA responds to industry concerns

ELIZA BAVIN  |  THURSDAY, 28 NOV 2019
... prudential guidance, as necessary, if and when the SIS Regulations are released," the regulator said. "In the meantime RSE licensees should make reasonable endeavours to undertake the assessment required under section 52(9)(a) for all of their products." ...

FASEA chief to provide update

ELIZABETH MCARTHUR  |  WEDNESDAY, 27 NOV 2019
... breaches of the code. "Financial advisers will still be required to comply with the code from 1 January 2020 and AFS licensees will still be required to take reasonable steps to ensure that their financial advisers comply with the code," ASIC said. This ...

Advice associations welcome ASIC stance

HARRISON WORLEY  |  WEDNESDAY, 27 NOV 2019
... compliance approach didn't excuse planners from making reasonable efforts to comply with the standards. As such, ASIC expects licensees ensure planners are aware of their need to comply with the code from January 1 2020, and to provide training and guidance ...

ASIC outlines Code of Ethics expectations

ELIZA BAVIN  |  TUESDAY, 26 NOV 2019
The Australian Securities and Investment Commission has outlined what it expects of advice licensees in regards to enforcing the Code of Ethics, saying it will not monitor or enforce individual advisers' compliance. The regulator said under the Corporations ...

APRA floats insurance in super change

HARRISON WORLEY  |  MONDAY, 25 NOV 2019
... interests of beneficiaries - implementing recommendation 4.14. "APRA should amend Prudential Standard SPS 250 to require RSE licensees that engage a related party to provide group life insurance, or who enter into a contract, arrangement or understanding ...

Continued calls for code compliance extension

ELIZABETH MCARTHUR  |  THURSDAY, 21 NOV 2019
Following ASIC providing relief to licensees in regards to ensuring advisers are registered with a compliance scheme, the Financial Planning Association of Australia is calling for more to ensure compliance. Speaking to Financial Standard, FPA head ...

Advisers serious about licensee due diligence

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2019
Financial advisers are now meeting with as many as 10 licensees before choosing a new home. This is according to HUB24 dealer group Paragem, which said advisers have doubled down on due diligence when it comes to selecting a new licensee, interviewing ...

APRA to take transparent approach

HARRISON WORLEY  |  TUESDAY, 19 NOV 2019
... despite recognising the "financially sound and resilient" nature of the nation's banks, insurers and superannuation licensees. "Although governance, culture, remuneration and accountability are often termed 'non-financial risks', a failure to address ...

Registration deadline extended: ASIC

ELIZABETH MCARTHUR  |  THURSDAY, 14 NOV 2019
ASIC has told Australian financial services licensees that they will not be in breach of the law because their financial advisers were not able to register with ASIC-approved compliances schemes. The original deadline for registering was 1 January 2020. ...