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

Search Results

Showing 1 - 10 of 100+ results for "FSC"

Sally Loane resigns as FSC chief

JAMIE WILLIAMSON  |  FRIDAY, 22 OCT 2021
... Passport, two Life Insurance Codes and the Stewardship Code for fund managers. Loane said she has been privileged to lead the FSC, representing its 111 members across superannuation funds, funds management, life insurance, advice licensees and trustee ...

Better Advice Bill gets green light

KARREN VERGARA  |  FRIDAY, 22 OCT 2021
The landmark Better Advice Bill, which introduces a new disciplinary body, passed the senate overnight. Under the Financial Sector Reform (Hayne Royal Commission Response-Better Advice) Bill 2021 (Better Advice Bill), from 1 January 2022, the Financial ...

Industry mixed over FSC advice framework

ANNABELLE DICKSON  |  FRIDAY, 15 OCT 2021
The financial advice industry welcomes the Financial Services Council (FSC) recommendations to help reduce red tape and make financial advice more affordable, but one dealer group is unsure whether the FSC is trustworthy - particularly for risk advisers. ...

FSC advice reforms slash time, costs by 30%

KARREN VERGARA  |  TUESDAY, 12 OCT 2021
... that advisers incur $5334 to provide advice and spend 23.9 hours on average to do so. Should several suggested reforms by the FSC be successfully implemented, the cost could potentially drop to $3360-$3467 or 35%-37%. Financial advisers would then only ...

FSC to ban occupational exclusions

ANNABELLE DICKSON  |  TUESDAY, 12 OCT 2021
The Financial Services Council (FSC) is introducing an enforceable standard that will prohibit the use of exclusions and restrictive disability definitions in default group life insurance for those who are in high-risk occupations. The standard will ...

FSC suggests CSLR improvements

KARREN VERGARA  |  MONDAY, 20 SEP 2021
... Scheme of Last Resort in a bid to prevent financial advisers that "have done nothing wrong" from paying for the scheme. The FSC is calling on corporate regulator ASIC to strengthen enforcement of existing laws to prevent the source of unpaid determinations ...

Occupational exclusions under scrutiny

KARREN VERGARA  |  FRIDAY, 3 SEP 2021
... Financial Services Council kicked off its consultation in August, asking stakeholders if such exclusions should be removed. The FSC said if a MySuper product's default life insurance cover has occupations-based exclusions, a member working in one ...

Plan to increase competitiveness of managed funds

ELIZABETH MCARTHUR  |  MONDAY, 30 AUG 2021
... industry to attract greater offshore investment now and into the future," Frydenberg said. The Financial Services Council (FSC) welcomed the draft legislation. "The FSC has been advocating for the introduction of the CCIV for many years because of its ...

Updated life code released

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 AUG 2021
The Financial Services Council (FSC) released the second draft of the Life Insurance Code of Practice 2.0 for public consultation. The latest draft of the code was released today, incorporating feedback from the first draft's consultation. The FSC has ...

New equality push in investments

ELIZABETH MCARTHUR  |  FRIDAY, 13 AUG 2021
The Financial Services Council is leading a new push for gender equality in investment management. The FSC launched the Women in Investment Management Charter, in a bid to improve female representation in the funds management industry. "The FSC surveyed ...
PREVIOUS
NEXT