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Financial Planning

ASIC far too slow to act on misconduct: Senator

LAURA MILLAN  |  FRIDAY, 21 JUN 2013
The Australian Securities and Investments Commission (ASIC) has been "far too slow to act" on misconduct in the financial services industry, Nationals senator John Williams told Financial Standard.

EQT formalises improved offer for The Trust Co

LAURA MILLAN  |  FRIDAY, 21 JUN 2013
Equity Trustees (EQT) has formalised its improved offer to acquire The Trust Company, despite the recommendation from The Trust Company board that shareholders accept the Perpetual proposal.

Parliament passes TASA bill

LAURA MILLAN  |  THURSDAY, 20 JUN 2013
The Parliament has voted and passed the amendments to the tax agents under the Tax Agent Services Act (TASA) bill that will extend the exemption for financial planners to become registered tax agents.

ASIC to face parliamentary inquiry over CBA

LAURA MILLAN  |  THURSDAY, 20 JUN 2013
Parliament will launch an inquiry into the Australian Securities and Investments Commission (ASIC), after it was revealed that the regulator took 16 months to act on information that suggested serious misconduct in Commonwealth Bank financial planning.

Government agrees to 12-month TASA exemption

LAURA MILLAN  |  THURSDAY, 20 JUN 2013
The government has agreed to extend the exemption for financial planners to become registered tax agents under the Tax Agent Services Act (TASA) bill.

AFA Inspire initiative launched in Sydney

MARK SMITH  |  THURSDAY, 20 JUN 2013
The Association of Financial Advisers (AFA) formally launched its Inspire initiative to provide a network and professional community for women in the financial advice industry at an event in Sydney last night.

UK RDR yet to change adviser charging models

ALEX DUNNIN  |  WEDNESDAY, 19 JUN 2013
The UK Retail Distribution Review was launched with much fanfare end last year, but it seems to have had only minor material impact on adviser remuneration methods.

TASA may also affect industry super funds

LAURA MILLAN  |  WEDNESDAY, 19 JUN 2013
As the financial services industry awaits MPs' position on the amendments to the Tax Agent Services Act (TASA) bill, industry superannuation funds have raised concerns that the legislation could also affect them.

ClearView advisers up by 45%

LAURA MILLAN  |  WEDNESDAY, 19 JUN 2013
ClearView Wealth has increased the number of authorised financial advice representatives by 45% and boosted its in-force life insurance premiums over the last year.

Customised portfolios ease FoFA burden

MARK SMITH  |  TUESDAY, 18 JUN 2013
Customised multi-asset portfolios regulated under unit trust schemes can help advisers comply with the new FoFA regime coming into force on 1 July.