Category | Compliance & Regulation

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Latest Poll – APRA’s Action on Income Protection Insurance

Our latest poll is asking whether you support APRA’s intervention on income protection insurance products. (more…)

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2 · December 3, 2019 in Compliance & Regulation, Polls, Products  

AFCA Supports FASEA Code

The Australian Financial Complaints Authority has announced how it will assess adviser conduct obligations under the new Financial Adviser Code of Ethics. (more…)

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0 · December 3, 2019 in Associations, Compliance & Regulation  
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APRA Sets New Course for IP Sustainability

In a momentous development, APRA has imposed a prescriptive set of changes on life companies designed to revive the flagging sustainability of individual income protection insurance products in Australia. (more…)

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6 · December 3, 2019 in Compliance & Regulation  

CommInsure Sentenced for Hawking Offences

CommInsure has been sentenced following its conviction on 87 counts of offering to sell insurance products in the course of unlawful, unsolicited telephone calls, contrary to s992A(3) of the Corporations Act, ASIC stated in a release. (more…)

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0 · December 2, 2019 in Compliance & Regulation  

ASIC Raises Concern on FDS Compliance

ASIC has voiced its concern over consumers receiving financial advice who are potentially at risk of receiving incorrect information about advice fees, or in some cases, being charged fees after ongoing fee arrangements have terminated, following the release of its new report on fee disclosure obligations. (more…)

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0 · December 1, 2019 in Compliance & Regulation  

WA Adviser Banned for Five Years

ASIC has banned financial adviser, Peter Jianchao Xu, from providing financial services for five years following a surveillance of Xu’s advice. (more…)

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0 · November 27, 2019 in Compliance & Regulation  

Court Finds Dover Client Protection Policy False, Misleading or Deceptive

The Federal Court of Australia has found Dover Financial Advisers engaged in false, misleading or deceptive conduct. (more…)

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1 · November 27, 2019 in Compliance & Regulation  
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ASIC to Take ‘Facilitative Approach’ to Adviser Code Standard 3

In what has been welcomed as a victory for common sense, ASIC has announced it will take a facilitative approach to compliance with the controversial Standard 3 in FASEA’s proposed Adviser Code of Ethics until the Government’s new single disciplinary body becomes operational. (more…)

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4 · November 26, 2019 in Compliance & Regulation  

APRA Proposes Changes to Improve Insurance Outcomes for Superannuation Members

The Australian Prudential Regulation Authority has released for consultation proposed revisions to Prudential Standard SPS 250 Insurance in Superannuation. (more…)

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1 · November 26, 2019 in Compliance & Regulation, Superannuation  
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AFA Calls Out FASEA ‘Inconsistencies’ in Recognition of Prior Learning for Advisers

The AFA has called out what it says are inconsistencies in FASEA’s approach towards recognition of prior learning applicable for existing advisers. (more…)

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9 · November 25, 2019 in Associations, Compliance & Regulation