Category | Compliance & Regulation


RC Failed to Understand Value of Advice – AFA

The Association of Financial Advisers has taken issue with what it says is the Banking Royal Commission’s failure to understand the value of financial advice. (more…)

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3 · March 19, 2019 in Associations, Compliance & Regulation  

MLC Life Insurance Steps-Up to Support Risk Commissions

MLC Life Insurance has released a statement in which it strongly argues the case for the continuation of life insurance commissions. (more…)

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6 · March 19, 2019 in Compliance & Regulation, Remuneration  

Genetic Testing Moratorium – Update

In the lead-up to this week’s 2019 FSC Life Insurance Conference, the Financial Services Council has confirmed its genetic testing moratorium policy will be implemented from 1 July 2019. (more…)

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· March 18, 2019 in Compliance & Regulation, General  

Reprieve for Mortgage Broker Trails

The Government has stepped back from its earlier position on dispensing with trail commissions for mortgage brokers. (more…)

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7 · March 12, 2019 in Compliance & Regulation, Remuneration  

ASIC Critical of Delays in Fees-For-No-Service Reviews

ASIC has expressed its disappointment in what it terms ‘unreasonable delays’ associated with further review programs around the fees-for-no-service failures of six leading financial institutions. (more…)

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0 · March 11, 2019 in Compliance & Regulation  

Zurich Call to Retain Risk Commissions

Zurich has declared its support for the continuation of risk commissions beyond 2021. (more…)

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4 · March 7, 2019 in Compliance & Regulation, Remuneration  

Government Progressing Removal of Claims Handling Exemption

The Coalition Government has released a consultation paper on removing the exemption of insurance claims handling from the definition of ‘financial service’ under the Corporations Act. (more…)

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0 · March 4, 2019 in Claims, Compliance & Regulation  

AFA Challenges RC on Banning Grandfathered Commissions

The Association of Financial Advisers has issued a detailed statement in which it argues that the Banking Royal Commission’s position on banning grandfathered investment and superannuation commissions could be challenged on constitutional grounds. (more…)

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10 · March 1, 2019 in Compliance & Regulation, Remuneration  

New Licensee Rating System to Launch

Adviser Ratings has announced it will launch a new ‘quality of advice’ rating system for financial advice licensees. (more…)

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0 · March 1, 2019 in Compliance & Regulation, General  

Labor May Ban All Risk Commissions

The Federal Opposition has confirmed it would ban all risk commissions if ASIC’s 2021 review of the impact of the Life Insurance Framework reforms offers no clear justification for retaining them. (more…)

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16 · February 25, 2019 in Compliance & Regulation, Remuneration