December 3, 2019
Our latest poll is asking whether you support APRA’s intervention on income protection insurance products. (more…)
Category | Compliance & Regulation
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…)
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…)
CommInsure Sentenced for Hawking Offences
December 2, 2019
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…)
ASIC Raises Concern on FDS Compliance
December 1, 2019
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…)
WA Adviser Banned for Five Years
November 27, 2019
ASIC has banned financial adviser, Peter Jianchao Xu, from providing financial services for five years following a surveillance of Xu’s advice. (more…)
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…)
ASIC to Take ‘Facilitative Approach’ to Adviser Code Standard 3
November 26, 2019
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…)
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…)
AFA Calls Out FASEA ‘Inconsistencies’ in Recognition of Prior Learning for Advisers
November 25, 2019
The AFA has called out what it says are inconsistencies in FASEA’s approach towards recognition of prior learning applicable for existing advisers. (more…)
