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Category | Compliance & Regulation

Shelf Space Fees May Continue Under LIF

Life insurers may still be able to pay shelf space fees to advice licensees after 1 January 2018 as long as the payments were not considered conflicted remuneration, ASIC has told a Parliamentary Inquiry. (more…)

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2 · August 15, 2017 in Compliance & Regulation, Remuneration  
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The Question of Life Product Shelf Space Fees

Our latest poll is based on ASIC’s assessment that life insurers may still be in a position to pay licensee shelf space fees following the implementation of the Life Insurance Framework reforms. (more…)

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1 · August 15, 2017 in Compliance & Regulation, Polls, Remuneration  
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Risk Adviser to Appeal Five Year Ban

A financial adviser who has banned by ASIC for five years after failing to act in the best interest of clients has asked for the decision to be reviewed by the Administrative Appeals Tribunal (AAT). (more…)

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2 · August 15, 2017 in Compliance & Regulation  

Head of New Education Authority Appointed

The Federal Government has announced that Deen Sanders OAM, head of the Professional Standards Authority, has been appointed as the Chief Executive of the Financial Adviser Standards and Ethics Authority Limited (FASEA). (more…)

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0 · August 11, 2017 in Appointments, Compliance & Regulation, Training  

ASIC’s Life SoA Downplays Advice

Further calls have been made to move commissions off the front page of ASIC’s example Life Insurance Statement of Advice (SoA) with the FPA stating the document should highlight the advice process first. (more…)

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3 · August 9, 2017 in Compliance & Regulation, Remuneration  

News in Brief

Former NAB Adviser Charged With Fraud Lack of Funds Keeping Consumers From Advice FPA Launches Financial Planning Week (more…)

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0 · August 8, 2017 in Associations, Compliance & Regulation  
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TAL Backdates Trauma Definitions

TAL will apply the new minimum standard trauma definitions within the Life Insurance Code of Practice (LICP) to all new claims received on individual policies purchased since 10 August 2009. (more…)

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6 · August 8, 2017 in Company News, Compliance & Regulation  
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Leave SoA Commission Details Alone – AFA

The AFA has recommended that life insurance commissions should not be displayed at the start of Statements of Advice (SoA) stating that to do so would present them out of context to the advice being provided. (more…)

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20 · August 1, 2017 in Compliance & Regulation, Products, Remuneration  
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Qualified Support for Individual AFSLs

Advisers have lent their qualified support to the concept of moving the industry to an individual financial services licensing regime. (more…)

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1 · August 1, 2017 in Compliance & Regulation, Polls  

News in Brief

Evalesco Shifts Licensee AIA Australia Health Insurance Brand Open for Business ASIC Accepts Enforceable Undertaking from Findex (more…)

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0 · August 1, 2017 in Compliance & Regulation, Dealer Groups, Products