Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 71 - 80 of 118 results for "Interests Duty"

Advisers question value of best interests duty

DARREN SNYDER  |  WEDNESDAY, 30 JAN 2019
One in five financial advisers disagrees or strongly disagrees the best interests duty was necessary to raise industry standards. And more than 70% believe the duty has not improved advice quality. These are two of 11 findings from research released ...

ASIC cracks down on non-compliant AFSL

JAMIE WILLIAMSON  |  MONDAY, 21 JAN 2019
... processes in place to identify non-compliance by authorised representatives or to ensure they were fulfilling the best interests duty. HNW Planning is now required to engage an independent expert to make recommendations on how to improve the practice's ...

ASIC and Westpac court battle sees mixed outcome

DARREN SNYDER  |  FRIDAY, 4 JAN 2019
A landmark Federal Court judgment has provided greater clarity between general and personal financial advice, ruling in favour of Westpac's position. Yet the bank still managed to breach the Corporations Act. Judge Jacqueline Gleeson said ASIC failed ...

SMSFs: Who, what, where, when and how

JAMIE WILLIAMSON  |  MONDAY, 15 OCT 2018
... or is it the SMSF itself that's already established? This is very important when it comes to fulfilling the best interests duty," Smith said. "If you're only dealing with one party and that party is giving you instructions on what to do with someone ...

ASIC takes Dover, McMaster to court

JAMIE WILLIAMSON  |  MONDAY, 17 SEP 2018
... were given legal effect - Dover would be liable for inappropriate advice or that which did not adhere to the best interests duty. Challenging his response, Costello said the document served to relieve Dover of responsibility, including in cases of negligence ...

Fiducian continues growth trajectory

JAMIE WILLIAMSON  |  FRIDAY, 17 AUG 2018
... place to manage inherent conflicts of interest to ensure that advice given to the client complies with the best interests duty and related obligations and is not tainted by conflict."

ASIC slams SMSF advice, flags further education reform

JAMIE WILLIAMSON  |  FRIDAY, 29 JUN 2018
... AFSLs, ASIC found 91% of files contained financial advice on setting up an SMSF that did not comply with the best interests duty or related obligations. Of the 102 licensees, 97 were found to have provided non-compliant advice. ASIC identified several ...

ASIC takes civil action against AMP

HARRISON WORLEY  |  WEDNESDAY, 27 JUN 2018
... division of the recently scrutinised mutual failed to ensure its authorised financial planners complied with the best interests duty of the Corporations Act. First aired during advice hearings at the Royal Commission earlier this year, AMP Financial ...

Best-in-show funds pose pressing issues for advisers

KARREN VERGARA  |  WEDNESDAY, 13 JUN 2018
... best-in-show list would be taken into account when guidance is provided to advisers, particularly around the best interests duty, Lavery said. Furthermore, the same section mentions ASIC would consider making it mandatory for advisers to consider the ...

Dover roasted for 'Orwellian' protection policy

JAMIE WILLIAMSON  |  FRIDAY, 27 APR 2018
... were given legal effect - Dover would be liable for inappropriate advice or that which did not adhere to the best interests duty. Costello said paragraphs in the document serve to relieve Dover of responsibility, including in cases of negligence and ...