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Showing 1 - 10 of 77 results for "FOFA legislation"

Complexity of grandfathered commissions overlooked

ELIZABETH MCARTHUR  |  FRIDAY, 27 SEP 2019
... 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 ...

CFA Institute asks FASEA to recognise charterholders

KANIKA SOOD  |  WEDNESDAY, 10 OCT 2018
... submission to the education standards body. "I always remember coming down to Australia five or six years ago when the FoFA legislation was new and talking to ASIC at that time about regulation and credentialing," he said. Smith added he was "amazed" ...

AFA rejects criticism over grandfathered commissions

JAMIE WILLIAMSON  |  WEDNESDAY, 26 SEP 2018
... this, stating that none of the ministerial media releases from 2010 and 2011 or the Explanatory Memorandum to the FoFA legislation made any reference to an expected timeframe for a decline in the volume of grandfathered commissions. Turning the tables ...

Advisers warming up to LICs

KANIKA SOOD  |  THURSDAY, 6 SEP 2018
... In July 2010 changes to the Corporations Act which gave greater consistency to LIC dividends Then in July 2013 FoFA legislation was passed. And SMSF sector has grown. However, a significant portion of the LICs, many are relatively small in size. Out ...

LIF to be introduced this week

MARK SMITH  |  MONDAY, 10 OCT 2016
... one of the issues that this government has taken out of the 'too hard' basket - it could've been tackled in the FoFA legislation and it wasn't. We are now making progress with those changes."

Senate recommends immediate adviser bans following "bitter harvest"

ALEX BURKE  |  TUESDAY, 15 MAR 2016
... "incentive payments". As such, the committee recommended ASIC be "vigilant" in monitoring the application of FoFA legislation and advise government on any existing legislative weaknesses. Part of this would involve new amendments which would both ensure ...

SMSF Association farewells super shadow minister

DARREN SNYDER  |  TUESDAY, 29 SEP 2015
... Services Committee. "The Ripoll report into the financial services industry helped lay the foundations for the FoFA legislation. Although we differed on some of the report's proposals, we always recognised its importance," Slattery said. "As an association ...

Succession planning is not a waiting game

ALEX BURKE  |  TUESDAY, 29 SEP 2015
... plans. In fact, if you are waiting for the economy to move into growth mode; or for the government to pass the FoFA legislation - forget it." Instead, Tynan suggested practice owners should base their succession plans on a "balance between business ...

Rethinking robo regulation

MARK SMITH  |  THURSDAY, 6 AUG 2015
... 'judgment'. How does that apply to a robo solution?" Vrisakis believes that from a legal standing, the wording of the FoFA legislation must be tweaked to accommodate new technology. "The way to deal with automated advice under FoFA is to modify obligations. ...

FPA shines light on "catch-all" dilemma

LAURA MILLAN  |  TUESDAY, 25 NOV 2014
... session at the FPA Congress in Adelaide. They noted that the disallowance of the government's changes to the FoFA legislation have brought back the "catch-all" provision in section 961(2)(g) of the best interests duty, which adds a very general clause ...
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