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Financial Planning

FPA "extremely wary" of general advice commissions

LAURA MILLAN  |  FRIDAY, 21 FEB 2014
The Financial Planning Association (FPA) submission to Treasury on the proposed amendments to the Future of Financial Advice (FoFA) says the organisation is "extremely wary of product distribution models which rely on general advice."

FoFA changes go too far diluting conflicted rem: ISA

LAURA MILLAN  |  FRIDAY, 21 FEB 2014
Industry Super Australia (ISA) has argued to a Senate committee that the proposed amendments to the Future of Financial Advice (FoFA) "go too far by diluting both the conflicted remuneration prohibition and the best interests duty."

ASIC could implement immediate suspension of advisers

STAFF WRITER  |  THURSDAY, 20 FEB 2014
The Australian Securities and Investments Commission (ASIC) could implement the immediate suspension of "bad-apple" advisers if it had powers to do it.

Sinodinos rules out LRBA review for SMSFs

ALICE URIBE  |  WEDNESDAY, 19 FEB 2014
Assistant Treasurer Arthur Sinodinos has ruled out a full review into limited recourse borrowing arrangements (LRBAs), but emphasised that licensing is necessary.

FPA puts TASA back in the agenda

LAURA MILLAN  |  WEDNESDAY, 19 FEB 2014
The Financial Planning Association (FPA) is putting the Tax Agent Services Act (TASA) 2009 back on the advisers' agenda ahead of the implementation in July 1, 2014.

Advisers to review privacy compliance

LAURA MILLAN  |  WEDNESDAY, 19 FEB 2014
Advisers have until March 12, 2014, to ensure their privacy compliance measures meet new privacy principles.

Planners not meeting SMSF trustee demands

JAMES FERNYHOUGH  |  WEDNESDAY, 19 FEB 2014
Financial planners still have a long way to go to meet the needs of self-managed super fund (SMSF) trustees, a new report has shown.

ASIC enhances whistleblower communication

LAURA MILLAN  |  WEDNESDAY, 19 FEB 2014
The Australian Securities and Investments Commission (ASIC) is taking steps to improve whistleblower communication and protection, one of the main concerns that prompted the Senate inquiry into the regulator's performance.

Consumers safe under FoFA changes: former judge

MARK SMITH  |  WEDNESDAY, 19 FEB 2014
The best interests of consumers are not under threat from the Government's proposed changes to the Future of Financial Advice Reforms (FoFA), according to former High Court judge and SMSF Professionals' Association of Australia (SPAA) patron Sir Anthony ...

Advice riskiest ASIC sector

LAURA MILLAN  |  WEDNESDAY, 19 FEB 2014
The Australian Securities and Investments Commission (ASIC) chairman Greg Medcraft said that in his own view, the regulator still regards financial advice "as the riskiest sector" ASIC regulates.