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Showing 71 - 80 of 136 results for "Best Interest Duty"

ASIC wins first court action for FoFA breaches

EMMA RAPAPORT  |  WEDNESDAY, 5 APR 2017
... of five years. ASIC's investigation found that both men provided advice to clients that was in breach of the best interest duty introduced under the FOFA reforms. Chenh has already exercised his right of appeal to the Administration Appeals Tribunal ...

Life insurance industry rebuts need for greater reform

JAMIE WILLIAMSON  |  MONDAY, 6 MAR 2017
... including the duty of utmost good faith, strict disclosure and capital adequacy rules, and the financial adviser best interest duty," Loane said. "The FSC strongly believes further regulation would be unnecessary. Self-regulation is an efficient way ...

ASIC takes Westpac to court

JAMIE WILLIAMSON  |  FRIDAY, 23 DEC 2016
... (BTFM) contravened aspects of the Future of Financial Advice (FoFA) reforms. This includes breaches of the 'best interest duty' and unlawfully providing personal financial advice - a claim that BT Financial Group rejects. The court action is a result ...

Managed portfolios vital for SMSF diversification

KERRIE SYDEE  |  THURSDAY, 8 SEP 2016
... financial advisers, managed portfolios provide not only an administration solution but also complement the best interest duty. Advisers can offer clients a more efficient product solution that is diversified across many asset classes which effectively ...

Life Insurance Framework fear fading

ALEX BURKE  |  TUESDAY, 3 NOV 2015
... a year was punitive, and that ongoing responsibility was already covered by the Future of Financial Advice best interest duty. "Right now, the framework is a skeleton. It's always about putting the detail on that skeleton," he said. "We've been discussing ...

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 ...

Editor's Choice

Invesco launches new equity fund

ELIZA BAVIN
Invesco said the new fund will give Australian investors access to a systematic global equity strategy with a 20-year track record.

FCA pursues Neil Woodford again

KARREN VERGARA
The Financial Conduct Authority (FCA) is going after failed fund manager Neil Woodford again, this time for allegedly providing unauthorised investment advice via W4.0, his Dubai-based investment platform.

Former APRA deputy chair launches retirement solutions startup

KARREN VERGARA
A former APRA deputy chair has launched CipherIQ, a new venture that provides retirement solutions via account-based pensions in partnership with superannuation funds, financial advisers and retirees.

Global X launches space tech ETF

MATTHEW WAI
Global X has now launched the space tech ETF (ASX: MOON).

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