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Showing 81 - 90 of 167 results for "Fee disclosure"

Original FoFA laws take immediate effect

JAMES FERNYHOUGH  |  THURSDAY, 20 NOV 2014
... advisers must regularly ask their clients to re-sign their contracts. Advisers are also no longer exempt from sending fee disclosure statements to clients who joined them before July 2013. Grandfathering provisions are also scrapped. The other major ...

Coalition secures PUP support on FoFA vote

LAURA MILLAN  |  THURSDAY, 2 OCT 2014
... and which is also affordable," Cormann said. 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 ...

Opposition wants to postpone vote on FoFA bill

LAURA MILLAN  |  TUESDAY, 23 SEP 2014
... general advice, amendments to the statement of advice provisions and an extension of the time period within which fee disclosure statements must be provided to a client.

ASIC reviews FoFA progress

JAMES FERNYHOUGH  |  THURSDAY, 18 SEP 2014
... in income as a result of the rules limiting conflicted remuneration. Licensees also said requirements to provide fee disclosure statements, which have demanded system updates, had been a major challenge. They also said the best interest duty brings with ...

Government succeeds in securing final FoFA changes

LAURA MILLAN  |  WEDNESDAY, 16 JUL 2014
... bonuses and balanced scorecards are still permitted in general advice. From now on, advisers will not need to send Fee Disclosure Statements (FDS) to clients prior to July 1, 2013, and changes also resolve the issue of grandfathering. In addition to ...

Deal with government brings in consumer protection: Palmer

LAURA MILLAN  |  TUESDAY, 15 JUL 2014
... of their own. The measures also lined out that any fees are to be disclosed and that the adviser must provide a fee disclosure statement annually. Clients will have the right to change their instructions to the adviser if they experience a change in ...

FoFA disallowance vote will save "millions"

ALICE URIBE  |  TUESDAY, 15 JUL 2014
... executive Mark Rantall said the result of the deal was a "sensible outcome". "The removal of the retrospective fee disclosure statement is very welcomed as that will save millions of dollars for the industry. The removal of the opt-in will remove millions ...

Intra-fund advice exemptions in doubt

JAMES FERNYHOUGH  |  TUESDAY, 8 JUL 2014
... Cormann said: "What I will do though, if the Senate is indeed of the view for example that Opt-In and retrospective fee disclosure requirements should stay in place for small business financial advisers, is consider whether in the interest of competitive ...

ASIC warns fund managers to fix fee disclosure

MARK SMITH  |  TUESDAY, 8 JUL 2014
The Australian Securities and Investments Commission (ASIC) has warned fund managers to get their act together to avoid inconsistent or false disclosure of fees to investors. The regulator has issued a report following an investigation into fee and ...

FoFA future uncertain as Palmer threatens to join opposition

LAURA MILLAN  |  MONDAY, 30 JUN 2014
... financial product or commissions are considered conflicted remuneration. From today, advisers do not need to send Fee Disclosure Statements (FDS) to clients prior to July 1, 2013, and resolves the issue of grandfathering. Read all Financial Standard ...