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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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AFA To Revise Constitution at AGM

The Association of Financial Advisers (AFA) will seek to revise its constitution and by-laws in an effort to become a code monitoring body under the new professional standards legislation. (more…)

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0 · August 15, 2017 in Associations, Conferences and Events  
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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  
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CBA Examining CommInsure Sale

The Commonwealth Bank (CBA) has flagged that it may sell its Australian and New Zealand life insurance businesses stating that it is in discussions with interested parties. (more…)

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1 · August 9, 2017 in Company News  
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AFA Changes Election By-Laws

The AFA has made a number of changes to its by-Laws governing elections for board members including a provision that board nominees must be of ‘good standing’. (more…)

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0 · August 8, 2017 in Associations  
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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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AIA Makes Changes to Premium Rates

AIA Australia has introduced a large sum insured discount and reduced premiums on some policies for new business written under its Priority Protection and Priority Protection for Platform Investors (PPPI) products. (more…)

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5 · August 7, 2017 in Company News, Products  
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Suncorp Considers Asteron Life Options

Suncorp will consider a range of options for its life insurance business, Asteron Life, stating that additional reinsurance, a partnership or full sale were all still in the table. (more…)

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0 · August 4, 2017 in Company News  
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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