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Showing 71 - 80 of 189 results for "Conflicted remuneration"

MLC faces class action over adviser fees

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 JUL 2019
... to advisers. It is alleged these fees were charged after the Future of Financial Advice reforms banned conflicted remuneration for advisers in 2013. Under the grandfathering provisions in those reforms, certain commissions and payments entered into prior ...

ASIC chases licensee over conflicted remuneration

HARRISON WORLEY  |  THURSDAY, 13 JUN 2019
In a signal of ASIC's intent, the first case concerning alleged breaches of conflicted remuneration provisions is underway in the Federal Court. The corporate regulator is seeking to declare The SMSF Club and its licensee RM Capital contravened the ...

Suncorp Super faces action over adviser pay

JAMIE WILLIAMSON  |  TUESDAY, 4 JUN 2019
... bring a class action against a retail superannuation fund, with existing and former members suing over conflicted remuneration paid to financial advisers. Suncorp Portfolio Service, also known as Suncorp Super, is facing a possible class action to be ...

No single solution for advice: CFA

HARRISON WORLEY  |  TUESDAY, 14 MAY 2019
... trust and improve the outcomes for customers accessing financial advice. The institute is calling for conflicted remuneration to be outlawed, alongside strengthening the best interest duty and ensuring advice remains independent. Additionally, it has ...

Frydenberg takes action on banning grandfathered commissions

HARRISON WORLEY  |  THURSDAY, 28 MAR 2019
... for the Federal Government's response to Commissioner Kenneth Hayne's recommendation that grandfathered conflicted remuneration should be eliminated. The new regulation proposes financial product manufacturers to pass on to clients any benefits from ...

AFA takes red pen to Hayne report

HARRISON WORLEY  |  WEDNESDAY, 20 MAR 2019
... sections of Hayne's work; particularly what Anderson called Hayne's "ideological determination" to remove all conflicted remuneration from the financial advice. "[This is] despite the fact that there is no international evidence to suggest that a model ...

AFA rebukes ideological drive against conflicted remuneration

HARRISON WORLEY  |  WEDNESDAY, 27 FEB 2019
... an ASIC review of the measures to improve the quality of advice also consider exemptions to the ban on conflicted remuneration for non-monetary benefits, Anderson questioned the necessity of stopping advisers receiving education from product providers. ...

Labor responds to Royal Commission final report

JAMIE WILLIAMSON  |  MONDAY, 25 FEB 2019
... report, Shadow Treasurer Chris Bowen said the party has already tabled a bill to end the grandfathering of conflicted remuneration. He believes it could be passed as early as March, if extra parliament sitting days are approved. From January 2020, payments ...

Royal Commission recommendations split industry

KARREN VERGARA  |  MONDAY, 18 FEB 2019
... for retail credit," EY wrote in its Where to next report. The recommendations to remove grandfathered conflicted remuneration, reduce life insurance commissions to zero and ask for annual consent to fees are expected to bring significant disruption and ...

Synchron slams RC on commissions

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... commissions would be if abolishing them would leave Australians "underinsured". "I doubt that a complete ban on conflicted remuneration in respect of life insurance products would lead to significant underinsurance," Hayne said in the report. Further ...