Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 41 - 50 of 131 results for "Best Interest Duty"

Trust in advisers wanes

JAMIE WILLIAMSON  |  TUESDAY, 30 JUN 2020
... adviser always acts in their best interests, leading CFA Societies Australia to call for a strengthening of the best interest duty. A global investor survey, conducted at the back end of last year by the CFA Institute, shows Australia rank sixth out ...

Global manager reduces fees on flagship fund

ALLY SELBY  |  THURSDAY, 30 APR 2020
... "We are very pleased to offer a highly-competitive new fee structure, which assists advisers to meet their 'best interest duty' and provides a more attractive entry point to end investor. "As the industry transitions away from legacy systems and processes ...

HUB24 hires managed portfolios lead

HARRISON WORLEY  |  TUESDAY, 3 MAR 2020
... structural and regulatory adjustment," Matterson said. "At the same time, regulatory requirements such as the best interest duty are resulting in a greater focus on the fees and benefits of investment solutions for clients. "We've designed the SmartShield ...

Westpac to pay $9.5m for Corps Act breaches

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... former adviser. The court case relates to poor financial advice provided by Sudhir Sinha which breached the best interest duty and related obligations. It was also determined that the breaches were allowed to continue as they also benefitted Westpac. ...

ASIC wins appeal against Westpac companies

KANIKA SOOD  |  MONDAY, 28 OCT 2019
... telephone calls. The corporate regulator claimed that the two Westpac companies had breached their FoFA-stipulated best interest duty by advising rollovers to Westpac-related super funds without a proper comparison of options, as required by law. Both ...

Whistleblower calls out approved product lies

ELIZA BAVIN  |  WEDNESDAY, 23 OCT 2019
... Financial Services Licensees (AFSLs) are funneling new clients into in-house products, potentially in breach of Best Interest Duty obligations. Whistleblower Jeff Morris has urged the government to ban the use of APLs by vertically-integrated advice ...

Industry Fund Services adopts regtech solution

KRISTI CHENG  |  FRIDAY, 13 SEP 2019
... industry fund members can trust." It designs solutions to improve financial advice compliance and oversight of best interest duty for consumers. "Advice RegTech is excited to support an organisation that shares a similar vision to improve outcomes for ...

AFCA ombudsman addresses adviser concerns

KRISTI CHENG  |  TUESDAY, 10 SEP 2019
... force at the time, including the obligation for personal advice to have a reasonable basis, rather than the "best interest duty" which applies to personal advice given since July 2013." Adviser obligations prior to 1 July 2013 are those that fall under ...

Beware adviser conflicts of interest: Lonsec

ELIZABETH MCARTHUR  |  WEDNESDAY, 28 AUG 2019
... then you're likely not offering the best value for your clients and you're likely not fulfilling your best interest duty." He added that for many advisers outsourcing their investment to a professional investment manager is the logical approach. ...

Managed investment scheme operator AFSL canned

ELIZABETH MCARTHUR  |  FRIDAY, 12 JUL 2019
... law." She explained that there is a community expectation that responsible entities will fully comply with best interest duty and ASIC is prepared to take legal action wherever necessary to enforce that.