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Showing 41 - 50 of 201 results for "Indemnity"

Inquiry criticises gaps in CSLR

KARREN VERGARA  |  MONDAY, 31 JAN 2022
... financial advisors for the allocation of fault," Burgess said. Additionally, the association is backing for professional indemnity insurance to play a bigger role in the broader compensation framework. SMSFA chief executive John Maroney said that PII ...

Major legislations hit parliament

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
... on the legislation with stakeholders. It will also consult on proposals to enhance the effectiveness of professional indemnity insurance in responding to compensation claims. The Financial Planning Association of Australia said advisers' PI insurance ...

MLC Life refreshes income protection offering

ANNABELLE DICKSON  |  WEDNESDAY, 29 SEP 2021
... said the insurer "went back to the core principle of how we could meet customer needs". "We looked at the principles of indemnity, and insuring definable, calculable, and meaningful losses caused by accident, injury, or illness," Rogers said. "We believe ...

ASIC bans adviser, cancels AFSL

ANNABELLE DICKSON  |  TUESDAY, 28 SEP 2021
... a 'key person'. The licence will remain in effect for 12 months to maintain an AFCA membership and hold professional indemnity cover. Pure Strategy and Ackerman have appeal ASIC's decision by the Administrative Appeals Tribunal.

FSC suggests CSLR improvements

KARREN VERGARA  |  MONDAY, 20 SEP 2021
... that ASIC introduces minimum capital requirements for advice licensees and takes proactive oversight of professional indemnity insurance (PI) held by licensees. FSC chief executive Sally Loane said: "For the CSLR to genuinely be a scheme of last resort ...

NAB partners with life insurance, advice provider

ANNABELLE DICKSON  |  FRIDAY, 3 SEP 2021
... strategic partnership agreement with Avant Mutual and its lending subsidiary, Kooyong Group. Avant Mutual provides medical indemnity insurance, life insurance, financial advice and travel insurance. NAB plans to white label Medfin products provided by ...

Broken advice industry shuns everyday Aussies: AFA

KARREN VERGARA, ANNABELLE DICKSON  |  THURSDAY, 29 JUL 2021
... also pay the Tax Practitioners Board levy ($700 per adviser), licensee fee (about $50,000 per year), while professional indemnity costs alone can take the total to $100,000. "That ought to give you an extent of the ludicrous situation we find ourselves ...

ASIC bans adviser, cancels AFSL

ANNABELLE DICKSON  |  THURSDAY, 22 JUL 2021
... allow time for a dispute resolution scheme and further arrangements for compensating clients, including professional indemnity insurance. Bevan has applied to the Administrative Appeals Tribunal for a review of ASIC's decision.

ASIC cancels AFSLs

ANNABELLE DICKSON  |  TUESDAY, 25 MAY 2021
... failed to pay an AFCA determination and failed to lodge its 2020 audited financial accounts and maintain professional indemnity insurance cover. Direct My Wealth held an AFSL since 13 January 2016 and an ACL since 14 January 2016 whereas Starkey held ...

CBA adds $32m to advice remediation bill

KARREN VERGARA  |  WEDNESDAY, 12 MAY 2021
The Commonwealth Bank has upped its indemnity bill to $252 million for dodgy financial advisers who were part of its former subsidiary Count Financial. CBA sold off Count Financial to CountPlus in mid-2019. At the time, CBA provided $200 million in ...

Editor's Choice

Invesco launches new equity fund

ELIZA BAVIN
Invesco said the new fund will give Australian investors access to a systematic global equity strategy with a 20-year track record.

FCA pursues Neil Woodford again

KARREN VERGARA
The Financial Conduct Authority (FCA) is going after failed fund manager Neil Woodford again, this time for allegedly providing unauthorised investment advice via W4.0, his Dubai-based investment platform.

Former APRA deputy chair launches retirement solutions startup

KARREN VERGARA
A former APRA deputy chair has launched CipherIQ, a new venture that provides retirement solutions via account-based pensions in partnership with superannuation funds, financial advisers and retirees.

Global X launches space tech ETF

MATTHEW WAI
Global X has now launched the space tech ETF (ASX: MOON).

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