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Showing 821 - 830 of 4246 results for "LIC"

CSLR legislation tabled, advice sector responds

ANDREW MCKEAN  |  FRIDAY, 9 SEP 2022
The government has advanced its commitment to establish a Compensation Scheme of Last Resort (CSLR), releasing for consultation exposure draft regulations. The CSLR will facilitate the payment of compensation of up to $150,000 to eligible consumers ...

ASIC bans Sterling & Freeman director

ANDREW MCKEAN  |  WEDNESDAY, 7 SEP 2022
ASIC has banned Wayne Christopher Saman, the sole director of Sterling & Freeman Advisory for a period of five years. Saman was banned because an ASIC surveillance found he was involved in Sterling & Freeman's contravention of financial laws. Sterling ...

ASIC extends binary options ban

ANDREW MCKEAN  |  TUESDAY, 6 SEP 2022
ASIC has extended its product intervention order banning the issue and distribution of binary options to retail clients until 1 October 2031. Since coming into effect in May 2021, the ban has successfully prevented retail clients from losing money trading ...

Super fund disclosure rules finalised

ANDREW MCKEAN  |  MONDAY, 5 SEP 2022
Regulations relating to requirements for superannuation funds to disclose expenditures with the Annual Member's Meeting notice have been updated. Last month, the government published draft regulations for consultation. As previously reported by Financial ...

Increasing number of advisers look to self-licence

JAMIE WILLIAMSON  |  MONDAY, 5 SEP 2022
About 70% of the financial advisers that are looking to leave their licensee are planning to go it alone, research shows. According to Investment Trends' Adviser Business Model Report, about 70% of those looking to move in the next 12 months plan to ...

Latest adviser exams see 52% pass rate

JAMIE WILLIAMSON  |  THURSDAY, 1 SEP 2022
Just over half of the candidates for the July and August sittings of the Financial Advisers Exam - the final opportunities for existing advisers to pass - have been successful. In total, 628 advisers sat the exam in July and August. Of these, 76% were ...

ASIC issues warning over brokers' high-risk offers

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
ASIC has told brokers to be careful about or to reconsider offering high-risk products and services to retail investors as an increasing number offer securities trading. ASIC said it has seen increased instances of brokers offering securities trading ...

MobiSuper, licensee to pay $250k penalty

JAMIE WILLIAMSON  |  MONDAY, 29 AUG 2022
MobiSuper and its licensee will pay a $250,000 penalty for breaching superannuation advice laws while promoting the MobiSuper fund. MobiSuper and ZIB Financial will pay the combined penalty after the Federal Court found MobiSuper representatives had ...

ASIC capability review released

CASSANDRA BALDINI  |  FRIDAY, 26 AUG 2022
The Financial Regulator Assessment Authority (FRAA) reviewed ASIC and said it's generally effective and capable but there are still some important opportunities to enhance performance. The FRAA released its report, Effectiveness and Capability Review ...

Not ruling anything out: Insignia Financial

CASSANDRA BALDINI  |  FRIDAY, 26 AUG 2022
Having attributed its strong FY22 earnings to its recent acquisitions, Insignia Financial's Renato Mota is not ruling out future M&A opportunities to add scale. "We have undertaken two large acquisitions, I think that's provided us with tremendous ...