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Showing 71 - 80 of 148 results for "FOFA reforms"

ASIC consults on code approval under FOFA

LINDA HAUSKEN  |  WEDNESDAY, 24 OCT 2012
... 3 December 2012. ASIC also reaffirmed that it will take a facilitative approach during the first 12 months of the FOFA reforms from 1 July 2013. "We recognise in a number of areas that FOFA will require businesses to undertake major work so that IT systems ...

We'll hunt down commission 'work around': FSA

ALEX DUNNIN  |  FRIDAY, 12 OCT 2012
... end this year under a raft of reforms known as the Retail Distribution Review (RDR). The RDR is akin to Australia's FOFA reforms but much more onerous, with almost no grandfathering and with a much shorter implementation period. The extent of the reforms ...

ASIC releases proposed conflicted remuneration guidelines

BEN COLLINS  |  TUESDAY, 2 OCT 2012
... also a ban on asset-based fees for borrowed amounts. The ban on conflicted remuneration operates alongside other FOFA reforms including an obligation for advisers to act in the best interests of clients and a requirement for clients to opt-in to renew ...

Compliance stifling innovation: BTFG

MELANIE TIMBRELL  |  WEDNESDAY, 26 SEP 2012
... on the mark amid the shifting regulation. While the industry remains wrapped-up in the day-to-day adherence with FOFA reforms, Power said platform providers need to be on the front foot with regard to longer-term developments. "We'll start to see an ...

Delay FoFA reforms another year: Lawyer

MARK STORY  |  MONDAY, 27 AUG 2012

Mercer: Stronger Super adds pressure on funds

LINDA HAUSKEN  |  WEDNESDAY, 8 AUG 2012
... challenges in the superannuation industry." Anderson said the implementation costs to Mercer for the Stronger Super and FOFA reforms could amount to as much as $25 million over the next five years. However, as a solution to the issue, he said moving ...

Too many managers

ALEX DUNNIN  |  TUESDAY, 24 JUL 2012
... these cost savings to be passed onto them in lower fees, he said. This change will be reinforced by the MySuper and FOFA reforms that will also put intense pressure on fees, said Himbury. These change forces are already being manifested in rapid deployment ...

My Adviser offers accountants licensing package

LINDA HAUSKEN  |  WEDNESDAY, 11 JUL 2012
... to continue to provide advice on SMSFs and superannuation following the changes to the accountant exemption in the FOFA reforms. Currently, accountants can provide advice on self managed superannuation funds (SMSFs) without having to hold an Australian ...

Streamlined SMSF software creates adviser revenue stream

BEN COLLINS  |  WEDNESDAY, 4 JUL 2012
... administration fee to their increasing base of self-managed super funds (SMSF). With investment commissions removed by the FOFA reforms, advisers can earn a fee by charging for these administration services, with the information then quickly shared via ...

New accountants' licence hailed as win for affordable advice

MELANIE TIMBRELL  |  MONDAY, 25 JUN 2012
... financial advice more accessible and affordable for the Australian public," Malley said. "This final element of the FOFA reforms reflects the prominent role professional accountants play in the provision of financial advice, and will go a long way towards ...