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

Search Results

Showing 61 - 70 of 530 results for "Future of Financial Advice"

AFSL super options under the lens

KANIKA SOOD  |  THURSDAY, 10 JAN 2019
... Commission's previous call for the Government to rename the term 'general advice' defined under the Future of Financial Advice legislation. "This term has led many consumers to think they are receiving advice relevant to their personal situation ...

ASIC and Westpac court battle sees mixed outcome

DARREN SNYDER  |  FRIDAY, 4 JAN 2019
... originally alleged the Westpac subsidiaries breached the 'best interests duty' introduced under the Future of Financial Advice (FoFA) reforms by conducting a telephone sales campaign recommending customers roll out of their super funds into their ...

Westpac admits it didn't take FoFA seriously

KANIKA SOOD  |  WEDNESDAY, 7 NOV 2018
Westpac said while implementing the Future of Financial Advice reforms, it did not embed strong enough controls and record-keeping to police fee-for-no-service advice. The admission was made in the bank's annual sustainability report released today ...

Banks vow to end grandfathered commissions

KANIKA SOOD  |  WEDNESDAY, 10 OCT 2018
... Anna Bligh said in Sydney this morning. To this end, the ABA is seeking new legislative changes to the Future of Financial Advice (FoFA) reforms. It is also overhauling its banking code of practice to stop banks from charging fees to deceased client ...

Banking remuneration practices to blame for misconduct

MICHELLE BALTAZAR  |  FRIDAY, 28 SEP 2018
... and intermediaries that has been identified and is criticised in this report." The report drew on the Future of Financial Advice (FoFA) reforms of 2012; the Banking Executive Accountability Regime (BEAR); and Sedgwick Review released in April 2017 suggesting ...

ASIC staff to investigate institutions from the inside

JAMIE WILLIAMSON  |  TUESDAY, 7 AUG 2018
... the ASIC's Financial Adviser Register and ensuring compliance by licensees and advisers with the Future of Financial Advice laws. In a joint statement, Treasurer Scott Morrison and Minister for Financial Services and Revenue Kelly O'Dwyer said ...

BTFG will pay back grandfathered commissions to customers

KANIKA SOOD  |  WEDNESDAY, 25 JUL 2018
... its full-year earnings. The comments were made at an FSC Summit panel on Wednesday, addressing the future of financial advice. Addressing the moderator's question on why BT Advice waited so long to abolish grandfathered commissions if it believed ...

Royal Commission to boost ETFs: VanEck

KANIKA SOOD  |  FRIDAY, 20 APR 2018
... increasing number of financial advisers have been using ETFs to diversify client portfolios since the Future of Financial Advice (FOFA) reforms, according to VanEck managing director and APAC head Arian Neiron. "We anticipate a high degree of financial ...

Royal Commission must cast net wider

JAMIE WILLIAMSON  |  MONDAY, 16 APR 2018
... advice provided by industry funds for its compliance with the best interests duty introduced under the Future of Financial Advice (FoFA) reforms. Responding to questions about ASIC's investigation into vertically integrated entities, Kell said: "We are ...

Industry Super Australia chief executive resigns

ALEX BURKE  |  FRIDAY, 13 APR 2018
... campaign to clean up the financial advice industry and provided the policy grunt for what would become the Future of Financial Advice (FoFA) laws. ISA then stopped these laws being watered down by the incoming Abbott Government, in the face of relentless ...