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Showing 51 - 60 of 136 results for "Best Interest Duty"

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.

VanEck changes tack on ETF

KANIKA SOOD  |  TUESDAY, 2 JUL 2019
... since inception. In May, VanEck decided to convert the ETF to a different strategy and index provider citing best interest duty. "VanEck, as responsible entity, has made the decision to change the investment strategy of FDIV. The decision was made taking ...

No single solution for advice: CFA

HARRISON WORLEY  |  TUESDAY, 14 MAY 2019
... financial advice. The institute is calling for conflicted remuneration to be outlawed, alongside strengthening the best interest duty and ensuring advice remains independent. Additionally, it has called for the remuneration of advisers and senior executives ...

Major advice licensee in possible best interest breach

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
... became concerned that some of SMSF Adviser Network's advisers failed to demonstrate compliance with the best interest duty and related obligations. The watchdog found Statement of Advice (SOA) documents used by the group contained heavily templated ...

Labor responds to Royal Commission final report

JAMIE WILLIAMSON  |  MONDAY, 25 FEB 2019
... amount drawn down by the borrower, not the total loan amount." The party said it will also move to introduce a best interest duty for brokers, in line with the recommendation by Commissioner Hayne. Outlining additional measures, Labor will look to improve ...

Vertical integration not to blame

HARRISON WORLEY  |  MONDAY, 26 NOV 2018
... submission said it is possible for financial advisers to comply with their duties to clients, including the best interest duty, in circumstances where a related party of their employer also manufactures financial products. The Royal Commission continues. ...