Search Results | Showing 1 - 10 of 218 results for %22Best Financial Interests Duty%22 |
| | | ... concerns about APRA's effectiveness, particularly regarding perceived shortcomings in enforcing the Best Financial Interests Duty (BFID). Despite its straightforward intention, there's a worrying trend where large superannuation entities, purportedly ... |
| | | | ... was to continue investing in the underperforming option in one way or another. Eleven files demonstrated breaches of the best interests duty and appropriate advice obligation, primarily in relation to the underperforming product, including no explanation ... |
| | | | In its final response to the Quality of Advice Review (QAR), the government plans to modernise the best interests duty and amend the Statement of Advice (SoA), while also granting approval for superannuation funds to provide personal advice. In its ... |
| | | | ... the exclusion of any changes to the provision of Statements of Advice (SoAs) and the removal of Safe Harbour Steps from the Best Interests Duty and raised concerns that these recommendations may no longer be adopted. However, Jones assured delegates ... |
| | | | ... legislation to reduce administrative burdens of financial advisers but is missing key pieces, such as the elimination of the Best Interests Duty and the overhaul of the Statement of Advice (SoA). Released today, the proposed legislation is the first ... |
| | | | ... trustees have robust business operations and are held to account to deliver outcomes that are in the best financial interests of their members," she said. Meanwhile, APRA has decided to retire its 20-year-old guidance curricular on the Sole Purpose Test ... |
| | | | ... Management, saying representatives have not been adequately supervised, leading to some financial advice provided failing the best interests duty. The additional conditions follow targeted surveillance by ASIC, during which it found Shartru was not adequately ... |
| | | | ... legislation] to a superannuation fund of which one is a member and insulting to trustees". "They have a duty to act in their members best interest to begin with, but the anti-hawking legislation effectively assumes that direct interaction with members ... |
| | | | ... financial advice by 9-11%, they said. "We recognise that the Safe Harbour Steps helps guide appropriate advice in line with the best interest duty," Pham said. "However, advisers that truly show their value, deliver great service and advice, go beyond ... |
| | | | ... "Some rules that were intended to protect consumers have instead materialised as unnecessary and unused documentation at best. Sadly though, some of these rules have led to consumer harm as advisers seek to protect themselves from their clients," he ... |
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