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Showing 1 - 10 of 12 results for "FOFA laws"

Global manager reduces fees on flagship fund

ALLY SELBY  |  THURSDAY, 30 APR 2020
... provisions for conflicted remuneration will come into effect from 1 January 2021. With this change, the full effect of the FOFA laws will come to fruition, banning advisers from receiving conflicted remuneration entirely. T. Rowe Price Australian sales ...

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 ...

Parliament repeals key FoFA amendments

LAURA MILLAN  |  TUESDAY, 24 NOV 2015
... document said. It said that the move is part of the Government's commitment to work with the opposition in improving the FoFA laws, which were received with strong opposition by Labor and the Greens. Other amendments made in the past that will remain ...

Industry welcomes grandfathering deal

LAURA MILLAN  |  WEDNESDAY, 26 NOV 2014
... they will not be subject to unfair, retrospective losses." He added that "the industry can now transition to the new FoFA laws with certainty." Yesterday, the Government gave notice of a motion in the Senate to reinstate the grandfathering provision ...

Original FoFA laws take immediate effect

JAMES FERNYHOUGH  |  THURSDAY, 20 NOV 2014
... Opposition spokesperson for financial services Bernie Ripoll, however, downplayed these claims, saying: "The [original] FoFA laws were in place for two years, one year soft start, one year hard start. The regulator has been good in respect of assisting ...

Industry furious at financial advice swap

AAP & ALICE URIBE  |  THURSDAY, 20 NOV 2014
... leave investors vulnerable to a future financial collapse. The disallowance of the government regulations means Labor's FOFA laws will remain in force. Finance Minister Mathias Cormann was unimpressed, describing the hijacking of Senate proceedings on ...

Labor considers ban on insurance commissions

LAURA MILLAN  |  TUESDAY, 14 OCT 2014
... "We will be looking very closely at that report, as well as consulting with the sector as to the coverage of our new FoFA laws that we will take to the next stage because I think that the issues raised are of deep concern," he added. Bowen said that ...

FoFA legislative changes pass in the House of Reps

LAURA MILLAN  |  THURSDAY, 28 AUG 2014
... out-of-date bill into this House." Industry Super Australia (ISA) chief executive David Whiteley said: "the wind-back of the FOFA laws contains a lot of fine-print. The blunt reality is that confidence in the advice industry will continue to sink because ...

Labor hopes to disallow FoFA amendments

JAMES FERNYHOUGH  |  THURSDAY, 20 MAR 2014
... short period of time with three regulatory regimes: the regulations that take effect from 27 or 28 March, the current FoFA laws if the regulations are disallowed in the Senate, then whatever legislative landscape we end up with after 1 July when the ...

FoFA changes go too far diluting conflicted rem: ISA

LAURA MILLAN  |  FRIDAY, 21 FEB 2014
... in place laws that protect consumers and do what is possible to prevent scandals such as Storm Financial." "While the FoFA laws won't prevent every further instance of financial scandal, diluting the laws will certainly increase the risk and likelihood ...
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