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Showing 71 - 80 of 121 results for "Interests Duty"

Treasurer moves on broker remuneration

ELIZABETH MCARTHUR | TUESDAY, 27 AUG 2019

Treasurer Josh Frydenberg announced the government will introduce a best interests duty for mortgage brokers and seek to reform broker remuneration. It is the next step in the government's response to the Royal Commission, releasing draft legislation ...

APRA receives new super powers

KARREN VERGARA | FRIDAY, 5 APR 2019

... ensure that APRA can take effective action, including addressing underperformance and compliance with the best interests duty. He added the new law was another example of the Government taking action on Commissioner Kenneth Hayne's final recommendations. ...

Industry funds wary of stapling default members

KANIKA SOOD | FRIDAY, 15 FEB 2019

... "The legislation will also see directors of superannuation funds face criminal penalties for breach of their best interests duty and provide the Australian Prudential Regulation Authority with more powers to deal with underperforming superannuation funds," ...

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 ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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