Category | Compliance & Regulation

image 02

Exiting Advisers Urged to Consider Options

Risk advisers contemplating closing their business and exiting the advice sector should first consider other options, says Caboodle co-founder, Warwick Hearne. (more…)

Continue Reading
2 · July 15, 2019 in Compliance & Regulation, General, Remuneration  

ASIC Finds Consumer Credit Insurance Poor Value and Harming Consumers

ASIC’s review of the sale of consumer credit insurance (CCI) has found unacceptable sales practices, poor product design and significant remediation costs in CCI sold by major banks and lenders. (more…)

Continue Reading
· July 11, 2019 in Claims, Compliance & Regulation, Products  
iStock-961588434

579 Sit FASEA Exam

FASEA has confirmed 579 advisers sat the first round of its adviser exam in June. (more…)

Continue Reading
6 · July 9, 2019 in Compliance & Regulation  
iStock-953436176

FSC Genetic Testing Moratorium Comes into Effect

Genetic tests are no longer a barrier for consumers seeking life insurance, following the implementation of the FSC’s Moratorium on genetic tests in life insurance on 1 July. (more…)

Continue Reading
· July 2, 2019 in Associations, Claims, Compliance & Regulation, General  
iStock-612023272

FASEA Approves AFA Courses

FASEA has given its formal approval for education credits attaching to the AFA’s  FChFP and ChLP courses. (more…)

Continue Reading
3 · July 1, 2019 in Associations, Compliance & Regulation, Training  
iStock-92040817

Associations Outline Policy Agenda to New Minister

The AFA has detailed the policy agenda it presented to the new Minister responsible for Financial Services and Superannuation, Senator Jane Hume. (more…)

Continue Reading
4 · June 28, 2019 in Associations, Compliance & Regulation  
iStock-614420366

APRA Releases ‘World-Leading’ Life Insurance Claims Data

APRA has released its Life Insurance Claims and Disputes data for the 2018 calendar year, in which the value of advised life insurance claims is evident, particularly for TPD claims. (more…)

Continue Reading
2 · June 28, 2019 in Claims, Compliance & Regulation  

ASIC Bans Queensland Insurance Adviser

A Queensland financial adviser from Beenleigh has been banned by ASIC who found the advice he provided did not take into account the individual circumstances of his clients because he used a templated approach for all clients. (more…)

Continue Reading
· June 28, 2019 in Compliance & Regulation, General, Practice Management  

ASIC Bans Melbourne Adviser

ASIC has permanently banned a Melbourne adviser from providing financial services and engaging in credit activities because of his dishonest conduct and advising his clients to obtain comprehensive personal insurance, without considering their needs and objectives. (more…)

Continue Reading
· June 26, 2019 in Compliance & Regulation, General  

Poll Results – Knowledge Not the Issue

Most advisers appear to be dis-satisfied with the lack of emphasis on soft skills training options within the sector. (more…)

Continue Reading
4 · June 25, 2019 in Compliance & Regulation, General, Polls