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Showing 41 - 50 of 70 results for "ASIC Report"

Adviser commission reforms pushed back

JAMIE WILLIAMSON  |  WEDNESDAY, 5 OCT 2016
... AFA under the life insurance reforms," Fox said. The AFA is also currently lobbying for a postponement of the future ASIC report on the success of the reforms to include evidence collected after the changes come into effect. The draft legislation relating ...

Former Westpac adviser banned

JAMIE WILLIAMSON  |  TUESDAY, 27 SEP 2016
ASIC has banned a former Westpac adviser from providing financial services for four years. Michael Mahoney of Adelaide has been disqualified after an ASIC investigation found that he engaged in misleading and deceptive conduct during his time as a Westpac ...

Industry moves away from upfront commissions

LAURA MILLAN  |  THURSDAY, 25 JUN 2015
... making disclosure simpler and more effective. The debate over insurance advice remuneration models was prompted by an ASIC report that revealed that over one third of risk advisers were not compliant.

AFA can't give Trowbridge report "complete support"

ALEX BURKE  |  FRIDAY, 27 MAR 2015
... got the dignity and the benefit of life insurance payouts," he continued. "That's the core of what this is about. ASIC report 413... did put insurance advice into the frame of poor public opinion. We had to take ownership and accountability for what ...

Life insurance commissions must remain an option: AFA

LAURA MILLAN  |  WEDNESDAY, 11 FEB 2015
... complete ban on commissions, Anderson said: "Commissions must remain an option, we don't see them disappearing." The ASIC report analysed 243 client files, excluded 41 and determined that 127 files (63%) were correct, but rated 75 files (37%) as failed. ...

ASIC report highlights insufficient penalties

LAURA MILLAN  |  MONDAY, 2 FEB 2015
Monetary penalties for large organisations reached record levels in 2014, but are still insufficient, according to the Australian Securities and Investments Commission (ASIC) latest enforcement report. ASIC quotes the record $1.2 million civil penalty ...

Life Insurance and Advice Working Group chair appointed

MARK SMITH  |  FRIDAY, 17 OCT 2014
... QBE and Suncorp. In 1981 he started actuarial firm Trowbridge Consulting which merged with Deloitte in 2000. "The ASIC report points to some important issues for consumers and the broader Australian community. These are complex and difficult issues for ...

Labor considers ban on insurance commissions

LAURA MILLAN  |  TUESDAY, 14 OCT 2014
... were concerned about the level of underinsurance in Australia, and that's a legitimate concern. But I think that the ASIC report means that we need to take it very seriously," Bowen said. "We will be looking very closely at that report, as well as consulting ...

Upfront commissions linked to bad advice

JAMES FERNYHOUGH  |  FRIDAY, 10 OCT 2014
... no commissions. Financial Standard contacted a number of advice groups to find out how they intend to react to the ASIC report. Only AMP and the Commonwealth Bank had responded at time of writing. An AMP spokesperson said: "Customers expect us to provide ...

One third of risk advisers non-compliant, ASIC says

JAMES FERNYHOUGH  |  THURSDAY, 9 OCT 2014
... remuneration models in the life insurance industry are sustainable and practical for consumers and the industry." "The ASIC report requires a serious response from the industry. We have formed a working group to achieve this." The Financial Planning ...