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Showing 691 - 700 of 4241 results for "LIC"

Farewell Michael Harrison

JAMIE WILLIAMSON  |  MONDAY, 22 MAY 2023
A veteran of the Australian financial services sector, Michael Harrison is being remembered as a teacher, mentor, and unrelenting advocate for risk advisers after he passed away on Sunday morning, aged 78. Harrison enjoyed a varied and colourful career. ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
The Federal Court found AMP guilty of charging deceased customers life insurance premiums and advice fees, ordering it to pay $24 million in penalties. Justice Hespe today determined that four AMP subsidiaries - AMP Life, AMP Financial Planning, AMP ...

Finfluencers bridge financial advice gap

KARREN VERGARA  |  THURSDAY, 18 MAY 2023
One year since ASIC forced finfluencers to obtain a general advice licence or else, finfluencers playing by the rules are reaching financially illiterate and disengaged Australians in a way that traditional advice has failed to. Finfluencers backed ...

Abolishing FDSs a major win: Panel

KARREN VERGARA  |  TUESDAY, 16 MAY 2023
The Quality of Advice Review's recommendation to abolish Fee Disclosure Statements would be a major win for financial advisers as many continue to grapple with providing accurate documents to clients. The Financial Advice Association Australia general ...

Courtenay House affiliate faces prison

CHLOE WALKER  |  TUESDAY, 9 MAY 2023
Former Courtenay House Investments contractor and promoter Athan Papoulias has been sentenced to two years' jail time for his role in the unlicensed financial services business. As part of his sentence, Papoulias will also complete 120 hours of community ...

ASIC revises IDR reporting framework

JAMIE WILLIAMSON  |  MONDAY, 8 MAY 2023
ASIC has further staged the implementation timeframe for internal dispute resolution data reporting. In total, 8600 financial firms will report their customer complaints data for the first time under the framework. The first group to do so comprised ...

Uptick in adviser numbers: Research

KARREN VERGARA  |  WEDNESDAY, 3 MAY 2023
The financial advice industry bucked the trend for the first time in more than three years, adding 626 advisers during the March 2023 quarter. A new report by Rainmaker Information shows that the advice profession gained several advisers in the non-aligned ...

Venture capital rout rattles advice technology sector

KARREN VERGARA  |  MONDAY, 1 MAY 2023
The recent collapses of local financial advice startups Creativemass and TIQK indicate that the freewheeling days of venture capital funding is drawing to an end. Creativemass, a financial services software provider used by the likes of AMP and Bombora ...

Skynet fraudster terminated by ASIC

JAMIE WILLIAMSON  |  FRIDAY, 28 APR 2023
The regulator issued a permanent ban to the director of Melbourne's Skynet Financial Services for stealing his clients' retirement savings to fund a lavish lifestyle and pay personal debts. Between 2013 and 2017, Terence Rio Nugara advised clients to ...

ASIC updates breach reporting guidelines

KARREN VERGARA  |  FRIDAY, 28 APR 2023
ASIC has updated breach reporting procedures in the hope that it can help reduce regulatory burdens for financial advisers. The corporate watchdog detailed several changes to Regulatory Guide 78 Breach reporting by AFS licensees and credit licensees ...