Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW
Search ResultsShowing 1 - 10 of 16 results for "Ongoing fee arrangement"
ASIC provides relief to Victorian advisers
ALLY SELBY  |  TUESDAY, 22 SEP 2020
... and renewal notice obligations. "This means that relying on this no-action position does not prevent an ongoing fee arrangement (OFA) terminating in relation to post-FOFA clients, where the FDS or renewal notice is not given to a client, or has not been ...
Compliance worse than COVID-19
ALLY SELBY  |  THURSDAY, 23 APR 2020
... Disclosure Statements and opt-in processes is significantly adding to the ongoing cost of maintaining an ongoing fee arrangement with a client. "The Royal Commission recommendation on annual renewal and providing client consent to the product providers ...
Lack of independence must be made clear: ASIC
ELIZA BAVIN  |  TUESDAY, 10 MAR 2020
... the recommendations, ASIC said written "express written consent" will be needed to charge fees for an ongoing fee arrangement from a clients' account on a yearly basis. In addition, the regulator suggests each year a record must be kept of the services ...
Advice groups criticise rushed legislation
ELIZABETH MCARTHUR  |  WEDNESDAY, 4 MAR 2020
The government's plan to implement recommendations from the Royal Commission has been met with concern and criticism from financial advice industry groups. Both the Association of Financial Advisers and The Advisers Association have lashed out at ...
Where to from here?
JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
On the anniversary of the Royal Commission's final report, AFA chief Phil Kewin reflects on the year that was and how the playbook - and rules - changed for advisers. It's been 12 months since the financial services sector was hit with Commissioner ...
Frydenberg takes RC super advice
HARRISON WORLEY  |  FRIDAY, 31 JAN 2020
... unless certain conditions are satisfied. Those conditions include new requirements enhancing the existing ongoing fee arrangement provisions, which the government is also acting on through this round of new legislation. Additionally, the government will ...
Ongoing fees, advice fees in super to be reformed
ELIZABETH MCARTHUR  |  FRIDAY, 31 JAN 2020
... Hayne's final report on February 5. The draft legislation for recommendation 2.1 will enhance the existing ongoing fee arrangement provisions in the Corporations Act. Under the reforms, advisers would be required to seek annual renewal from clients for ...
AFSLs show widespread non-compliance: ASIC
ELIZA BAVIN, JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2019
AFS licensees are consistently failing to provide correct information about advice fees to clients and are potentially still charging fees long after ongoing fee arrangements have been terminated, ASIC has found. The report, Compliance with fee disclosure ...
YBR to remediate wealth clients
KARREN VERGARA  |  FRIDAY, 30 AUG 2019
Yellow Brick Road is expecting to compensate wealth clients close to $1 million for failing its fee disclosure statements obligations. During the 2019 financial year, the ASX-listed firm identified some advice clients with ongoing fee arrangements may ...
Frydenberg flags new advice disciplinary system
HARRISON WORLEY  |  MONDAY, 19 AUG 2019
... expanding the corporate regulator's power to ban people in the financial services sector. Hayne's ongoing fee arrangement recommendations - including that clients annually renew ongoing fee arrangements and advisers record the services clients ...
PAGE:
1
PREVIOUS
NEXT
Link to something erwa0aDv