Category | Compliance & Regulation

FSC Supports Making Insurance Claims Handling a Financial Service

The Financial Services Council has gone on record in support of Recommendation 4.8 of the Banking Royal Commission which makes insurance claims handling a financial service. (more…)

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0 · January 20, 2020 in Compliance & Regulation  
Women with insurance policy paper craft

Making Compliance Work For You: The Elements of Valuable Life Insurance – Part 3

In this article, the final in a three-part series, BT’s Crissy De Manuele continues to break down the elements of what constitutes valuable life insurance advice, turning her focus on research comparisons and underwriting pre-assessments… (more…)

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0 · January 17, 2020 in AdviserFocus, Claims, Compliance & Regulation, Underwriting  

Another Tough Year for Risk Advisers

Risk focussed advisers are facing yet another challenging twelve months, according the results of our latest poll. (more…)

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5 · January 14, 2020 in Compliance & Regulation, Polls, Remuneration  

ASIC Bans NSW Adviser

ASIC has announced it has banned Northern NSW adviser, David O’Brien, from providing financial services for four years following a surveillance by the regulator. (more…)

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0 · January 9, 2020 in Compliance & Regulation  

3,000+ Adviser Exits From Major Institutions – New Report

Major regulatory action post the Royal Commission, combined with strategic exits by major banks along with a 50 percent increase in exits from major institutions, is transforming the shape of the financial advice industry, according to the 2nd Australian Financial Advice Landscape Report by Adviser Ratings. (more…)

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0 · January 8, 2020 in Compliance & Regulation, General  

FPA Launches New SoA Digital Interactive Guide

The Financial Planning Association of Australia has launched its Future of the Statement of Advice (SoA) digital interactive guide to help financial advisers develop more accessible, personalised and meaningful client experiences during the advice process. (more…)

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1 · January 7, 2020 in Compliance & Regulation, Education  

ASIC Takes Court Action Against NAB on Fees For No Service and FDS Failure

In late December ASIC announced it had begun civil penalty proceedings in the Federal Court against National Australia Bank Limited (NAB) and was seeking findings of several thousand contraventions of the ASIC Act and the Corporations Act. (more…)

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0 · December 23, 2019 in Compliance & Regulation  

FASEA Clarifies Position – Green Light for Risk Commissions

In the lead-up to Christmas, FASEA has clarified its position on life insurance commissions, effectively delivering an unequivocal green light to the continuation of commissions as a valid form of remuneration. (more…)

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· December 20, 2019 in Compliance & Regulation, Remuneration  

Latest Poll – LIF 2020

At the end of a sometimes bruising year for risk-focussed advisers and advice businesses, we’re keen to establish your outlook as you enter the New Year. (more…)

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5 · December 17, 2019 in Compliance & Regulation, Polls  

ASIC Commences Proceedings Against TAL

ASIC has commenced proceedings in the Federal Court against TAL Life Limited for alleged breaches of the ASIC Act, the Corporations Act and the Insurance Contracts Act, in relation to a claim made under an income protection policy. (more…)

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1 · December 17, 2019 in Claims, Compliance & Regulation