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Showing 1 - 10 of 153 results for "Interest Duty"

APRA to continue crackdown on super fund expenditure

ELIZA BAVIN | THURSDAY, 13 NOV 2025

... obligation," she said. "One area that APRA has been concerned that some funds might not be meeting their best financial interest duty is in relation to expenditure decisions." Beverley-Smith referred to APRA's scrutiny in fund expenditure that was launched ...

Adviser exodus puts retirement savings at risk: CPA

KARREN VERGARA | THURSDAY, 17 JUL 2025

... Scheme of Last Resort (CSLR), updating financial advice education standards and changing the financial advice best interest duty. "Investing retirement savings is complex, and carries with it intricate tax and super settings, asset tests and administrative ...

Tranche 2 of DBFO dumps SOAs, enables 'nudges'

JAMIE WILLIAMSON | FRIDAY, 21 MAR 2025

... chief customer officer Renee Howie said: "The client advice record is a much-needed reform. However, reforms to best interest duty and the removal of the safe harbour steps are also necessary to facilitate more affordable advice for Australians." "Allowing ...

Senate calls to overhaul super fund boards

ELIZA BAVIN | FRIDAY, 14 FEB 2025

... called for ensuring shareholders pay regulatory fines, as opposed to consumers; for APRA to report on Best Financial Interest Duty compliance of super funds; and competency rules that require super fund directors and chairs to have relevant experience. ...

ASIC updates on SMSF advice review

ELIZA BAVIN | THURSDAY, 13 FEB 2025

... advice files where SMSF establishment advice has been provided. ASIC said it will assess compliance with the best interest duty and related obligations. In addition, ASIC is observing the role of AFS licensees in monitoring and supervising representatives ...

FSCP deregisters adviser for two years

KARREN VERGARA | WEDNESDAY, 12 FEB 2025

... incompetence in providing the advice to his clients," the FSCP said. The panel found that Meilak contravened the best interest duty, appropriate advice obligation, failed to prioritise his clients' interest over his own, and made misleading statements. ...

Jones flags drafting of Tranche 2 legislation

KARREN VERGARA | TUESDAY, 11 FEB 2025

... has taken time, but it has led to a better package for consumers." The second phase is meant to simplify the best interest duty, remove the safe harbor steps, and introduce a new class of advisers. "But I reaffirm that we are committed to modernising ...

AFCA flags legal uncertainty on SMSF wholesale test

KARREN VERGARA | THURSDAY, 28 MAR 2024

... retail investor as it had less than $10 million in assets and therefore entitled to the protections of the best interest duty. The complainant also argued that personal financial advice was provided and that the advice was inappropriate. "The financial ...

New enhancements to Expand, CFS Edge

CHLOE WALKER | THURSDAY, 14 DEC 2023

... Colonial First State (CFS), the new offering was designed in response to feedback from advisers, helping them meet Best Interest Duty obligations through low-cost and flexible solutions. "The Accelerate Series delivers a full-service managed account ...

Will HNW firms re-enter retail advice?

KARREN VERGARA | WEDNESDAY, 1 NOV 2023

... demographic in 2018, largely due to the complex regulatory environment and the difficulty of complying with Best Interest Duty obligations and how costly it was to do so, JBWere Australia chief executive Maria Lykouras told yesterday's AFR event. ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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