Phone-based advice should not be limited to simple, single-issue advice, according to ANZ’s Paul Barrett.
Category: Compliance & Regulation
ASIC Releases Prosecution Data
December 6, 2011 – 9:21 pm
The Australian Securities and Investments Commission (ASIC) carried out 160 prosecutions for offences under the Corporations Act during the first six months of 2011.
Group Risk Commissions Outside Super to Stay
December 6, 2011 – 4:56 pm
Financial Services Minister Bill Shorten has confirmed that group risk commissions outside superannuation will not be impacted by Future of Financial Advice (FoFA) reform measures.
Industry Says Elements of FoFA Unworkable
November 29, 2011 – 4:35 pm
A number of elements in the second Future of Financial Advice (FoFA) reform Bill introduced into Parliament last week have been rejected by the financial services industry.
PJC Extends FoFA Submission Deadline
November 29, 2011 – 3:13 pm
The Parliamentary Joint Committee on Corporations and Financial Services (PJC) has announced an extension on the due date for submissions relating to the Future of Financial Advice (FoFA) reforms legislation.
Door Open for Volume Bonuses to Continue - FoFA Tranche 2
November 24, 2011 – 10:34 am
Financial Services Minister, Bill Shorten, has left open the potential for advisers to continue to receive volume bonus payments under Future of Financial Advice (FoFA) reforms.
Opposition Would Roll Back Opt-in, as Debate Continues
November 23, 2011 – 10:16 am
As the industry continues to debate the merits of opt-in, the Opposition has confirmed it would rescind the policy if it were to regain power in the next election.
More Delays for FoFA, MySuper
November 22, 2011 – 10:55 am
The passage of the Future of Financial Advice (FoFA) reform legislation has been dealt another blow with the Bill being referred to the Senate Economics Legislation Committee.
FPA Members More Concerned About Volatility Than Opt-in
November 18, 2011 – 1:15 pm
Financial planners are more concerned about ongoing market volatility than the introduction of opt-in, according to a survey of its members by the Financial Planning Association (FPA).
Annual Fee Disclosure May Not be Retrospective - Shorten
November 17, 2011 – 3:36 pm
Financial Services Minister Bill Shorten has indicated he is reconsidering whether the annual fee disclosure requirement, introduced in the first tranche of the Future of Financial Advice (FoFA) reforms, will be applied retrospectively.
