The latest issue of Financial Standard now available as an e-newspaper
|In a win for ASIC this morning, Dover Financial Advisers and its founder Terry McMaster have been ordered to pay over $1.4 million in penalties by the Federal Court of Australia.|
|ASIC has hit financial advisers with the news that levies will increase by the equivalent of 160% over two years, with industry bodies outraged.|
|AMP has launched a new intra-fund financial advice offering focused on retirement.|
|Victorian-based Ahmed Saad appeared in court after being charged with dishonestly obtaining financial advantage by deception for his role in an illegal retail superannuation scheme.|
|Australia's advice industry is tipped to grow to that of the UK market, evidenced by technology adoption throughout COVID-19, according to Intelliflo.|
|Centrepoint Alliance reported $1.6 million in NPAT for the December half, as its total adviser numbers dropped slightly to 308.|
|Fintech Ignition Advice has announced it will move into the UK market, establishing new teams in London and Edinburgh.|
|IOOF expects to spend up to $32 million on paying out Buyer of Last Resort arrangements with financial advisers leaving its network, primarily from Bridges Financial Services.|
|The Financial Planning Association of Australia (FPA) has named Melbourne-based financial planner Renato Manias as the first 2021 winner of the Gwen Fletcher Memorial Award.|
|The Financial Adviser Standards and Ethics Authority (FASEA) has issued a reminder to financial advisers that their time to sit and pass the exam is ticking by.|
The Australian Taxation Office yesterday couldn't answer exactly how many stapling-triggered employer checks it expects, but maintained its readiness for a July 1 go-live.
The asset manager is partnering with a start-up to build a new platform for institutional investors to trade digital currencies.
Australia's largest superannuation fund is taking issue with the proposed stapling regulations, arguing that the model is backwards and will not protect members from being stuck in dud funds.
The prudential regulator has commenced industry consultation on revisions to the prudential standards for life insurers to protect life insurance policy holders against the use of offshore reinsurers.
|Brought to you by|
|Keep up to date, don't be the last to know! Get the Financial Standard Daily Newsletter.|