Tag Archives | feature

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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  
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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  
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Government Appoints Adviser to Board of Dispute Scheme

The Federal Government has named one financial adviser among four people appointed to the board of the new single dispute resolution body, the Australian Financial Complaints Authority (AFCA). (more…)

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0 · May 1, 2018 in Appointments, Compliance & Regulation  
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Royal Commission Will Consider Life Insurance Remuneration

The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry will consider whether life insurance commissions should be exempt from the ban on conflicted remuneration, despite the issue not being raised during hearings. (more…)

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6 · May 1, 2018 in Compliance & Regulation, Products, Remuneration  
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Advisers Favour Removal of Vertical Integration Structures

Most advisers think that consumers’ interests will be better served if financial institutions did not own advice networks. (more…)

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0 · May 1, 2018 in Compliance & Regulation, Polls  
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AMP, Banks May Face Criminal Charges Over Advice Failings

AMP, and the four major banks may all face criminal charges for breaches of the Corporations Act related to their financial advice businesses, the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has been told. (more…)

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0 · April 30, 2018 in Company News, Compliance & Regulation  
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AMP Yet to Notify Clients Over Poor Life Insurance Advice

AMP has yet to notify clients they may have received inappropriate life insurance advice as it was still reviewing the files of a number of advisers, a senior AMP executive has told the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. (more…)

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2 · April 24, 2018 in Compliance & Regulation  
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The Future of Vertical Integration

The revelations coming out of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry have caused us to ask you about the future of institutional ownership of distribution in the Australian market. (more…)

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1 · April 24, 2018 in Compliance & Regulation, Polls  
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AMP Offers Apology as CEO Steps Down

AMP has offered an unreserved apology, and announced its Chief Executive Craig Meller will step down immediately, after the revelation of misconduct and lack of disclosure in its advice business at the Banking and Financial Services Royal Commission. (more…)

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0 · April 20, 2018 in Company News, Compliance & Regulation  
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Government to Boost ASIC Banning Powers

The Federal Government will increase the powers of ASIC allowing it to ban people from holding any role in financial services as well as being able to revoke or cancel financial services licences where the holder is not considered not to be ‘fit or proper’. (more…)

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2 · April 20, 2018 in Compliance & Regulation