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Regulatory

Industry realigns for climate change

ALEX BURKE  |  TUESDAY, 21 FEB 2017
Australia's financial services industry and regulators no longer broadly consider climate change to be a separate, distant or "non-financial" issue.

ASIC watching SMSF advice closely

JAMIE WILLIAMSON  |  MONDAY, 20 FEB 2017
ASIC will undertake a major project focused on the advice provided to self-managed super fund clients, particularly around the establishment of SMSFs, as the regulator continues its work to lift the standard of financial advice in Australia.

RG 97 to lift fees 50 bps

ALEX DUNNIN  |  THURSDAY, 16 FEB 2017
Revisions to superannuation and investment product fee estimation methodology as a result of RG 97 is expected to significantly lift average fee metrics, according to an industry survey.

Fintech investment needs balance: APRA

EMMA RAPAPORT  |  WEDNESDAY, 15 FEB 2017
The financial services sector should not be tempted by "shiny new [fintech] toys", and must continue to invest in maintenance of their core technology, says APRA chairman Wayne Byres.

FPA expels and fines dishonest member

EMMA RAPAPORT  |  WEDNESDAY, 15 FEB 2017
The Financial Planning Association Conduct Review Commission Disciplinary Panel has expelled financial adviser Darren Tindall and issued a fine of $16,000.

APRA urges banks to raise capital

EMMA RAPAPORT  |  MONDAY, 13 FEB 2017
Capital standards should be set so that the capital ratios of deposit takers are unquestionably strong, according to ARPA chairman Wayne Byres.

Landmark advice reforms pass Senate

EMMA RAPAPORT  |  FRIDAY, 10 FEB 2017
The wealth management industry was overwhelming in its support of the Senate passing two significant reforms aimed at strengthening consumer confidence in the financial planning and life insurance sectors.

Custodians turn attention to CIVs and MITs

DARREN SNYDER  |  THURSDAY, 9 FEB 2017
The Australian Custodial Services Association will focus its attention around improving the local funds management sector to increase its global competitiveness in 2017.

House passes professional standards bill

EMMA RAPAPORT  |  WEDNESDAY, 8 FEB 2017
Federal laws which will affect the future of the financial planning industry passed the House of Representatives last night.

NAB aiding RG97 compliance

JAMIE WILLIAMSON  |  TUESDAY, 7 FEB 2017
NAB Asset Servicing launched its RG97 Reporting Suite to clients, providing investors and members with heightened transparency on fees and costs.