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

Search Results

Showing 81 - 89 of 89 results for "Poor advice"

Advisers launch FOFA attack

ALISON BEVEGE  |  THURSDAY, 12 MAY 2011
... quality of advice," it said in the FOFA pack. ASIC shadow shopping surveys that found more than half of all cases of poor advice involved life insurance, it said.

Dealer groups miss commissions

ALISON BEVEGE  |  THURSDAY, 28 APR 2011
... to affect the quality of advice. "The findings of ASIC shadow shopping surveys... illustrate that in (the) case of poor advice, over half involved poor life insurance advice," it said in the Future of Financial Advice reform information pack. Media reports ...

ASIC clampdown on poor business models in advice

ELISE BURGESS  |  MONDAY, 14 MAR 2011
... receiving a certain standard of quality, with plans to review all advice files and cases it believes demonstrates poor advice. ASIC will also employ the services of an external auditor to audit the quality of advice provided. "Where inappropriate advice ...

Poor advice fine to reach $200k

ELISE BURGESS  |  MONDAY, 21 FEB 2011
Financial advisers who break the law could face up to five years in jail and up to $200,000 in fines, based on proposed changes to industry laws. Currently a financial adviser that is found guilty of breaching their fiduciary duty could be charged a ...

Investors get $250m compensation for crook advice

FSA RELEASE  |  TUESDAY, 13 APR 2010
... review two years ago. The regulator carried out further assessments of 22 firms that posed the biggest risk of offering poor advice. In total, six firms have been referred to the watchdog's enforcement division as a result of pension switching work. ...

ASIC defends AMP FP action

KATE HAGE  |  THURSDAY, 3 AUG 2006
... licensees to have in place compensation and adequate insurance to cover the costs of any consumers adversely affected by poor advice. While the issue of commissions is still far from resolved, Lucy said the regulator had received 30 formal responses ...

ASIC chairman Lucy warns super advisers not to abuse choice laws

AAP  |  THURSDAY, 5 AUG 2004
... with the FSR (Financial Services Reform) regime,\" he told business leaders in Sydney. \"Super choice advertising and poor advice about switching will be major priorities for ASIC going forward and we will not hesitate to take enforcement action against ...

AFA calls for balance between good advice and compliance

... process good advice is lost. Compliance is not about good advice. An Adviser can be compliant perfect and yet deliver poor advice." Mr Yates said the AFA would work to achieve this balance.

Australians continue shift to property investment: report

... mortgage broking industry needs to improve. The report said that consumers using the mortgage broking industry face poor advice, inadequate disclosure, inconsistent documentation, uncertainties about the nature and price of broking service and in a small ...