The latest issue of Financial Standard now available as an e-newspaper

READ NOW

Search Results

Showing 1 - 10 of 121 results for "Interests Duty"

Performance test reforms to curb benchmark hugging: Treasury

KARREN VERGARA | FRIDAY, 8 MAY 2026

... assets that align with Australia's national priorities, with the continued safeguard of the best financial interests duty." He is concerned, however, that a simple reference portfolio approach could water down the test if it reduces accountability ...

SMSF advice requires specialist skills, professional judgement: SMSFA

KARREN VERGARA | THURSDAY, 19 FEB 2026

... this type of advice confidently and responsibly. Sixty-two files showed the adviser failed to comply with the best interests duty, while some licensees had inadequate pre-vetting procedures to manage conflicts of interest. "We don't like seeing any ...

Majority of SMSF establishments based on bad advice: ASIC

KARREN VERGARA | THURSDAY, 6 NOV 2025

... ASIC review reveals. Of 100 financial advice files investigated, 62 failed to demonstrate compliance with the best interests duty. One quarter of these raised significant concerns about client detriment relating to recommendations to set up an SMSF. ...

Tranche 2 of DBFO dumps SOAs, enables 'nudges'

JAMIE WILLIAMSON | FRIDAY, 21 MAR 2025

... nature. This round of draft legislation is open for consultation until May 2. Further reforms related to the Best Interests Duty and the creation of a new class of adviser are still being worked on by Treasury. "This is about cutting red tape that adds ...

Jones flags drafting of Tranche 2 legislation

KARREN VERGARA | TUESDAY, 11 FEB 2025

... harbor steps, and introduce a new class of advisers. "But I reaffirm that we are committed to modernising the best interests duty and reforming statements of advice. Just as we are committed to introducing a new class of adviser that any financial firm ...

Treasury gives Tranche 2 reform package preview

JAMIE WILLIAMSON | WEDNESDAY, 4 DEC 2024

... and will interact with the Sole Purpose Test. In addition, the second tranche also includes the modernised best interests duty, allowing advice on single or limited scope issues where it suits the client's needs, and removes the safe harbour steps. Revamped ...

Cbus lacks stringent director, expenditure policies: Deloitte

JAMIE WILLIAMSON | WEDNESDAY, 4 DEC 2024

... memberships or employment relationships be formally recorded in the register going forward. Turning to the Best Financial Interests Duty (BFID), Deloitte found that despite having several policies and frameworks in place to guide expenditure decisions ...

Trustees, advisers have 'insufficient focus' on performance

ELIZA BAVIN | WEDNESDAY, 4 DEC 2024

... Kirkland said. "These deficiencies were a major factor in the advisers failing to demonstrate compliance with the best interests duty and appropriate advice obligations - and raised concerns about the clients suffering detriment." Kirkland said ASIC ...

'New class of advisers' need clear-cut distinction: FAAA

KARREN VERGARA | THURSDAY, 28 NOV 2024

... who work for banks, superannuation funds, and life insurers. It includes the proposed rationalisation of the best interests duty and removal of the safe harbour steps. This week is the final sitting week for parliament. Abood said: "We're expecting ...

Jones preps DBFO Tranche 2 for parliament

KARREN VERGARA | WEDNESDAY, 30 OCT 2024

... in parliament. The highly anticipated set of changes promise to remove laborious tasks by modernising the best interests duty and removing the safe harbour steps. Statements of Advice (SoAs) will also receive a makeover, while a new class of advisers ...

PAGE:

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.

Videos

Brought to you by

Global economic outlook and the case for local currency emerging market debt: Resilience, risk, and opportunity

A guaranteed future

SMILE through retirement - tackling the top 5 (Sequencing, Market, Inflation, Longevity, Emotion) retirements risks

The market has changed. The opportunity hasn't.

Follow the leaders

Strength amid noise

Maintaining a fundamental focus in a world obsessed with the short term

MORE VIDEOS

Products

'Guide To' Series

Pocket investment guides featuring adviser case studies and a glossary.

MORE INFO

Publisher's Forum

Investing trends and strategies from the industry’s thought leaders.

MORE INFO

Product Showcases

Putting the spotlight on investment products that matter.

MORE INFO

Expert Feed

Christian Mueller-Glissmann

Head of Asset Allocation Research

Goldman Sachs

When geopolitics becomes a portfolio risk

Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.

READ MORE

Tania Milnes

General Manager Membership

Financial Advice Association Australia

Does association membership still matter?

With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...

READ MORE