Industry EventsKeep up-to-date with our Calendar of upcoming industry events... |
September 25, 2018
The AFA has written to members informing them that large figures quoted at the Banking Royal Commission related to life insurance commissions overlooked legal obligations for advisers and equate to only $65,000 a year per adviser. (more…)
September 24, 2018
The head of the Financial Services Council has struggled to clearly articulate the relationship between financial advisers and life insurers as well as the role of commissions in the purchase of life insurance products. (more…)
The Banking Royal Commission has concluded its hearings into the life insurance sector after being told the three life insurers who provided testimony were likely to have breached the Corporations Act multiple times. (more…)
September 11, 2018
Major insurers offering products into the retail advised life insurance market have presented a lengthy list of possible misconduct to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. (more…)
September 10, 2018
Financial advice related to life insurance will not be examined during the current round of hearings of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. (more…)
August 28, 2018
The number of life insurance advice businesses for sale has spiked, according to a financial advice business broker, who claims the increase is a result of the impact of Life Insurance Framework (LIF) and proposed new education standards. (more…)
August 7, 2018
Financial institutions and regulators are standing in the way of client-centric reforms, and moves to license individual advisers, in a bid to retain control and promote their own self-interests, according to Connect Financial Service Brokers Chief Executive, Paul Tynan. (more…)
June 27, 2018
ASIC has begun court proceedings against AMP Financial Planning (AMPFP) alleging some of its advisers engaged in conduct to rewrite life-insurance business to receive higher commissions, and so breached their best interest duty obligations. (more…)
June 20, 2018
BT Financial Group (BTFG) has removed almost all forms of grandfathered payments paid to salaried advisers operating under the Westpac/BT advice channels. (more…)
June 5, 2018
Clarification has been received in the last week that the prospect of a blanket ban on risk commissions may not be as much on the regulatory agenda as first thought. (more…)
