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Showing 71 - 80 of 131 results for "Best Interest Duty"

ASIC's robo-advice taskforce to monitor AFSLs

STAFF WRITER  |  MONDAY, 28 SEP 2015
... examining the adequacy of compensation arrangements, algorithms and the interaction between scaled advice and the best interest duty. "We have observed that some start-up businesses may offer a specific or scaled advice service-for example, advice on ...

AMP deflects ASIC attack reports

ALEX BURKE  |  THURSDAY, 21 MAY 2015
... investigating the proportion of clients being sold AMP products to determine whether AMP planners are meeting their best interest duty. As part of its ongoing Wealth Management Project, established in October 2014, ASIC has been scrutinising the conduct ...

FPA proposes risk commission cap

DARREN SNYDER  |  TUESDAY, 5 MAY 2015
... the removal of heavily restricted approved products lists (APL), support for financial planners meeting their best interest duty and tighter regulation. An FPA consultation survey will be open for a week and will form the FPA's official response to the ...

FoFA opt-in to cause advisers biggest headache

JAMES FERNYHOUGH  |  THURSDAY, 20 NOV 2014
... frustrating that we need to reconsider our approach on how we run our business. "I think that the reinstatement of best interest duty is fine and will work okay. However, it's the ill-conceived legislation that is the opt-in duty that's going to be problematic ...

Coalition secures PUP support on FoFA vote

LAURA MILLAN  |  THURSDAY, 2 OCT 2014
... The changes include removing the opt-in requirement, streamlining of fee disclosure statements, amending the best interest duty and providing certainty around the provision of scaled advice. Some of these changes took effect on 1 July 2014, while others ...

ASIC reviews FoFA progress

JAMES FERNYHOUGH  |  THURSDAY, 18 SEP 2014
... fee disclosure statements, which have demanded system updates, had been a major challenge. They also said the best interest duty brings with it a high risk of non-compliance, and they have depended upon the 'safe harbour' steps to help them determine ...

Do not take adviser loyalty for granted: research

LAURA MILLAN  |  TUESDAY, 12 AUG 2014
... among advisers who wanted to switch. "Following FoFA, and perhaps as a consequence of the introduction of the best interest duty, they now have increasing freedom," Investment Trends senior analyst Recep Peker said. "With a quarter of planners saying ...

Senate votes against disallowing FoFA amendments

LAURA MILLAN  |  TUESDAY, 15 JUL 2014
... next 90 days. These include setting up a financial adviser register, informing clients about the adviser's best interest duty and detailing fees and commissions. "This is very good news for consumers because they will be able to benefit from proper competition," ...

Government to pass most FoFA changes through regulation

LAURA MILLAN  |  FRIDAY, 20 JUN 2014
... legislated. They include the removal of the opt-in requirement, the removal of the catch-all provision of the best interest duty, the provisions regarding investor access to scaled advice and the removal of the requirement for fee disclosure statements ...

SPAA voices concern over conflicted remuneration

LAURA MILLAN  |  THURSDAY, 19 JUN 2014
... on conflicted remuneration. The organisation also said it "strongly supports the catch-all provisions of the best interest duty," as well as the other amendments recommended by the Committee. On the conflicted remuneration issue, SPAA chief executive ...