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ASIC to Adopt Facilitative Approach to FoFA

The Australian Securities and Investments Commission will adopt a facilitative approach in working with licensees, following the disallowance of the Future of Financial Advice regulations.

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0 · November 20, 2014 in Compliance & Regulation  

Senate Takes Axe to FoFA Amendments

The Government’s Future of Financial Advice amendment regulations, which remove opt-in and the catch-all clause from the best interests duty, have been disallowed by the Senate.

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26 · November 19, 2014 in Breaking, Compliance & Regulation  

AMP to Close Genesys

AMP has announced plans to wind-up the Genesys Wealth Advisers brand, following a strategic review of the dealer group.

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0 · November 18, 2014 in Company News, Dealer Groups  

New AFA Inspire Chair Appointed

The Association of Financial Advisers has appointed a new Chair to lead its Inspire initiative.

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0 · November 18, 2014 in Appointments, Associations  

Lawyer Warns About New Record Keeping Requirements

New record keeping requirements that relate to the best interests duty may have gone unnoticed by advisers and licensees, one financial services legal expert has warned.

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2 · November 18, 2014 in Compliance & Regulation  

TAL Pays Nearly $500 million in Claims

TAL paid out nearly $500 million in claims in the past six months, according to the insurer’s half yearly results.

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· November 17, 2014 in Claims, Company News  

Macquarie Issues Updated PDS

Macquarie Life has issued an updated PDS for its FutureWise product suite.

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· November 17, 2014 in Products  

Vale Marius Barnard

It is with sadness that we report the death of Dr Marius Barnard, the founder of trauma insurance.

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0 · November 17, 2014 in General  

Forensic Expert Appointed to Investigate CBA Advice

An external compliance expert has been engaged to ensure the Commonwealth Bank delivers on its promise to appropriately compensate customers impacted by poor advice.

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0 · November 14, 2014 in Company News, Compliance & Regulation  

ASIC Encourages More Electronic Disclosure

The Australian Securities and Investments Commission is proposing changes to the way financial services disclosure documents are delivered, in a bid to make them more engaging for consumers.

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0 · November 14, 2014 in Compliance & Regulation, Products, Technology