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Showing 1 - 10 of 148 results for "FOFA reforms"

QAR does not "trash" FoFA: Anderson

CASSANDRA BALDINI  |  TUESDAY, 7 MAR 2023
... political and consumer groups. Anderson explained this is due to claims about the QAR "trashing" some of the key FoFA reforms. "We should focus our advocacy attention on achieving a package of obvious quick win solutions, that will deliver material improvements ...

Super fees hit record lows: Research

JAMIE WILLIAMSON  |  THURSDAY, 13 AUG 2020
... advantage. Rainmaker also said retail fund fees are on their way down and have been since 2015, largely as a result of the FoFA reforms. The remaining 25% of super assets are held by self-managed super fund members who have it quite good, paying just ...

ASIC mainly concerned with media releases: Lawyer

ELIZABETH MCARTHUR  |  TUESDAY, 9 JUN 2020
... during, and following, the Royal Commission." Yazbeck argued that through the Royal Commission and FASEA, as with the FOFA reforms before, advisers find their livelihoods in a strangle hold by big business. He points to platforms turning off fees and ...

AMP defends hefty remuneration bill

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... shareholder asked about AMP's strategic "re-invent advice" program, asking why it didn't re-invent itself after the FOFA reforms. Murray said: "There are significant structural issues and regulatory issues that are making it exceptionally difficult ...

Compliance worse than COVID-19

ALLY SELBY  |  THURSDAY, 23 APR 2020
... community, Anderson argued there was a consensus that more was to come. In the last few years, advisers had faced FoFA reforms, the FASEA Code of Ethics, Royal Commission recommendations, ASIC Project 515 and "lookback" projects as a result of the fee ...

Government ignored ASIC over LIC carve-out

HARRISON WORLEY  |  MONDAY, 6 JAN 2020
... at a competitive disadvantage by the uneven playing field" the exemption would create. "Subsequent relaxing of the FoFA reforms will inevitably lead to consumer detriment," ASIC said at the time.

Westpac to pay $9.5m for Corps Act breaches

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... 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 who ...

Super debate too one dimensional: Rice Warner

HARRISON WORLEY  |  MONDAY, 26 AUG 2019
... 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 and SuperStream ...

Grandfathered commissions ban unconstitutional: Association

JAMIE WILLIAMSON  |  MONDAY, 4 MAR 2019
... restrictions concerning acquisition of property." The constitutional restrictions have not changed since then, and the FoFA reforms explicitly preserve pre-existing remuneration structures, the AIOFP said. "Accordingly, the AIOFP is taking legal advice ...

Banking remuneration practices to blame for misconduct

MICHELLE BALTAZAR  |  FRIDAY, 28 SEP 2018
... Australian Securities and Investments Commission (ASIC), APRA or the banks themselves until several years after the FoFA reforms came into effect." Stephen Sedgwick AO, appointed by the Australian Bankers' Association to conduct an independent review ...
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