Search ResultsShowing 1 - 10 of 100+ results for "FOFA"
Lack of independence must be made clear: ASIC
ELIZA BAVIN  |  TUESDAY, 10 MAR 2020
... services that a client is entitled to and the total cost of the fees that will be charged. This would also be applicable to pre-FoFA clients. Lastly, ASIC recommends not allowing a fee to be paid from any account that is controlled by a separate entity ...
PIMCO puts Aussie LIT on ice
KANIKA SOOD  |  MONDAY, 3 FEB 2020
... for LICs and LITs which were allowed to pay advisers and brokers a commission even after the Future of Financial Advice (FoFA) reforms banned such payments on most investment products. The consultation, which was announced by Treasurer Josh Frydenberg ...
Stamping fees consultation kicks off
KANIKA SOOD  |  TUESDAY, 28 JAN 2020
... advisers and brokers for exchange-listed funds, as public scrutiny into the practice mounts. The Future of financial Advice (FoFA) reforms in 2013 put an end to commissions that financial advisers could collect from putting clients into investment products ...
Government ignored ASIC over LIC carve-out
HARRISON WORLEY  |  MONDAY, 6 JAN 2020
... Australian Financial Review , ASIC pleaded with the Coalition government not to expand the stamping fee carve-out in the FoFA laws in late 2013. The expansion of the carve-out was designed to allow financial advisers to recommend clients invest in listed ...
Westpac to pay $9.5m for Corps Act breaches
JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... the 2010 investigation," Wigney said. Wigney said it is tolerably clear that - at least prior to the commencement of the FoFA reforms - some officers or employees of Westpac were either unable or unwilling to terminate the services of a representative ...
ASIC wins appeal against Westpac companies
KANIKA SOOD  |  MONDAY, 28 OCT 2019
... primarily concerned with the telephone calls. The corporate regulator claimed that the two Westpac companies had breached their FoFA-stipulated best interest duty by advising rollovers to Westpac-related super funds without a proper comparison of options ...
Advice associations slammed
JAMIE WILLIAMSON  |  THURSDAY, 3 OCT 2019
... industry associations have done nothing for the fees advisers have been paying; completely ineffective in changing FSR, FOFA, industry funds, MySuper, TASA, banks' vertical integration and product flogging, LIF, FASEA, dealer fees, PI costs and a ...
Complexity of grandfathered commissions overlooked
ELIZABETH MCARTHUR  |  FRIDAY, 27 SEP 2019
... Anderson points out that during the Parliamentary Joint Committee on Corporations and Financial Services Inquiry into the FOFA legislation grandfathering was not the subject of any debate. "A detailed understanding of the history of FOFA helps in understanding ...
REP 515 divides advice community
ELIZABETH MCARTHUR  |  WEDNESDAY, 28 AUG 2019
... of ensuring the availability and affordability of high quality financial advice. "We're certainly struggling on the FOFA initiatives," Anderson said.
Super debate too one dimensional: Rice Warner
HARRISON WORLEY  |  MONDAY, 26 AUG 2019
... Warner noted the continuous tinkering with the super industry had led to some positive policy outcomes, pointing to the FOFA reforms of 2013 - for revolutionising and "totally disrupting" the financial advice industry - and the introduction of MySuper ...
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