Category: Compliance & Regulation

AFA Launches FoFA Working Group

In a move to address forthcoming changes in the financial advice sector, the AFA has launched a Future of Financial Advice Working Group to investigate the impact of proposed reforms on the financial advice industry and to communicate those findings to the Government.

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FSC Launches New Trustmark for Financial Products, Services

A new Trustmark standard is to be introduced next year for financial products and services, intended to act as a quality indicator for consumers.

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Coalition Would Create Better Financial Services Sector

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Advisers would overwhelmingly prefer a new Coalition Government to manage Australia’s financial services sector, according to our latest poll.

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ACCC Considering Latest NAB/AXA Proposal

The Australian Competition and Consumer Commission (ACCC) has announced it will seek market feedback on the undertakings submitted to it by NAB to address ACCC concerns over NAB’s proposed acquisition of AXA Australia and New Zealand.

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MLC Fee Transition Workshops

MLC says it is receiving positive feedback and strong demand from advisers for its fee-for-advice transition workshops.

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Federal Election - Who Will Better Serve Interests of Advisers, Consumers?

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In the midst of the Federal Election campaign, we are asking advisers to consider which party they believe will better serve the diverse interests of the financial services industry if they win Government.

Our poll question is:

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Adviser Associations Critical of ‘MySuper’ Announcement

Both the FPA and the AFA have issued statements calling for greater consumer engagement following the Government’s confirmation that it will implement the Cooper Review’s MySuper reform proposals.

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Strong Message to Advisers - Time to Act

The critical importance of making advisers’ voices heard during the consultation period for the Future of Financial Advice (FoFA) reform proposals is a message that is being driven home by the AFA as it winds up its 2010 National Roadshow this week.

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New FPA Chief Determined to Act in Interests of Members

New FPA CEO, Mark Rantall, says he is determined to represent the interests of his members as he navigates the Association’s path through the current array of industry reform debates.

Mr Rantall shared his views with riskinfo on several key topics, following his earlier declaration of continued support by the Association for retaining the payment of commissions to planners for life insurance and income protection advice.

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Advisers Sceptical About Impact of Banning Risk Commissions in Super

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Overwhelming adviser feedback suggests the removal of risk commissions in superannuation will have little to no effect in reducing costs and/or increasing superannuation savings.

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