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Showing 51 - 60 of 105 results for "Grandfathering"

Advice M&A activity set to soar in 2015

LAURA MILLAN  |  MONDAY, 9 MAR 2015
... absence of sellers was at unprecedented levels," Prendeville said, and added that increasing certainty over the FoFA grandfathering provision brought the market back on its feet. "In early August 2014 we started to see a trickle return to market and ...

Government repeals Palmer FoFA changes

LAURA MILLAN  |  WEDNESDAY, 17 DEC 2014
... repealed the Palmer United Party's (PUP) proposed changes to the Future of Financial Advice (FoFA) legislation and grandfathering amendments have become law. The registration of the grandfathering provisions will see these regulations become law effective ...

Change insurance commissions to fight churning: FSI

LAURA MILLAN  |  SUNDAY, 7 DEC 2014
... be considered during the development and implementation phases. On other types of advice commissions such as the grandfathering arrangements, "the inquiry believes that these instances of conflicted remuneration should be monitored, and Government should ...

Industry welcomes grandfathering deal

LAURA MILLAN  |  WEDNESDAY, 26 NOV 2014
... welcomed the parliamentary agreement between the Coalition and Labor to fix the unintended consequences of scrapping grandfathering from the Future of Financial Advice (FoFA) legislation. The Financial Planning Association (FPA) chief executive Mark ...

Independent dealer groups eye Genesys practices

LAURA MILLAN  |  TUESDAY, 25 NOV 2014
... Future of Financial Advice (FoFA) legislation. As a consequence of the disallowance, the regulation that fixed the grandfathering issue is not in place anymore and advisers cannot change dealer groups without losing grandfathered commissions from old ...

Grandfathering set to become next advice battlefield

LAURA MILLAN  |  FRIDAY, 21 NOV 2014
Advice associations will make grandfathering a priority in their conversations with government and opposition to address the sudden disallowance of the government's changes to the Future of Financial Advice (FoFA) legislation. "We are quite confident ...

Original FoFA laws take immediate effect

JAMES FERNYHOUGH  |  THURSDAY, 20 NOV 2014
... Advisers are also no longer exempt from sending fee disclosure statements to clients who joined them before July 2013. Grandfathering provisions are also scrapped. The other major change is that advisers are now regulated by a 'catch-all' provision in ...

AIST attacks big-bank default grandfathering

JAMES FERNYHOUGH  |  WEDNESDAY, 1 OCT 2014
... Superannuation Trustees (AIST). AIST head of executive manager, policy and research, David Haynes said current grandfathering rules allow funds to keep their default members in products that charge higher fees than their MySuper options. He said these ...

Government succeeds in securing final FoFA changes

LAURA MILLAN  |  WEDNESDAY, 16 JUL 2014
... to send Fee Disclosure Statements (FDS) to clients prior to July 1, 2013, and changes also resolve the issue of grandfathering. In addition to these changes, the government agreed yesterday to introduce regulations in the next 90 days to include additional ...

ISA FoFA report sparks industry outrage

LAURA MILLAN  |  MONDAY, 7 JUL 2014
... banking products and commission-based bonuses via balanced scorecards. The organisation also mentioned "extending grandfathering so commissions can be traded." The FSC chief executive John Brogden accused ISA of misleading consumers and said that "the ...