Category | Dealer Groups

ASIC Cancels Licence Following Insurance Advice Breaches

ASIC has cancelled the Australian financial services licence of a Melbourne based business which had been found to be offering advice linked to life insurance that breached obligations to act in the best interests of clients. (more…)

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0 · May 17, 2018 in Compliance & Regulation, Dealer Groups  
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AMP Points Finger at Advisers

AMP has used two public statements within a single day to lay the blame for failures within its advice businesses at the feet of advisers, claiming its licensees were not to blame. (more…)

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5 · May 11, 2018 in Company News, Compliance & Regulation, Dealer Groups, Products, Remuneration, Services  
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ANZ Puts Advisers on Notice

ANZ has warned its financial advisers that they will be terminated if they fail two audits and has removed all sales incentives related to financial advice. (more…)

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1 · May 8, 2018 in Company News, Compliance & Regulation, Dealer Groups, Remuneration, Services  

AMP Royal Commission Latest

AMP has rejected claims that it may have breached the Corporations Act in its handling of an independent report into ‘fee for no service’ practices within its financial advice business, and that breaches related to the practice should be handled by ASIC and not the Banking Royal Commission. (more…)

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0 · May 7, 2018 in Company News, Compliance & Regulation, Dealer Groups, Remuneration  
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NAB to Exit Financial Advice

Leading big four bank, NAB has announced it will withdraw almost completely from the financial advice sector and is considering a number of ways to separate its advice businesses from the bank. (more…)

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0 · May 3, 2018 in Company News, Dealer Groups, Products, Services  

Award Winning Practice May Face Criminal Charges

High profile financial adviser, Sam Henderson and his business may be open to criminal charges for failing to meet best interest duty obligations, according to evidence presented to the Banking Royal Commission. (more…)

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5 · April 27, 2018 in Compliance & Regulation, Dealer Groups  

News in Brief

Sydney Firm Expands Into Risk Advice ASIC Lifts Licence Conditions of Total Financial Solutions AFA Inspire Tour Celebrates Fifth Year (more…)

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0 · April 17, 2018 in Associations, Compliance & Regulation, Conferences and Events, Dealer Groups, Products, Services  

News in Brief

Sentry Awards Best and Brightest FPA Seeks Member Views on FASEA Proposals (more…)

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0 · April 10, 2018 in Associations, Company News, Dealer Groups  
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Adviser Associations To Appear Before Royal Commission

The AFA and FPA have been called to give evidence on the disciplinary regime for financial advisers at the second round of hearings of the Banking Royal Commission, but life insurance has been omitted from topics to be covered. (more…)

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0 · April 6, 2018 in Associations, Compliance & Regulation, Dealer Groups, Products, Remuneration, Services  
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Aligned Groups Pay $50 Million For Non-compliant Advice

Financial advice groups aligned to the four major banks and AMP have paid more than $51 million in compensation as a result of non-compliant advice, according to ASIC, which is continuing to review the work of 50 advisers. (more…)

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0 · February 20, 2018 in Company News, Compliance & Regulation, Dealer Groups