{"id":12522,"date":"2011-09-21T10:32:14","date_gmt":"2011-09-21T00:32:14","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=12522"},"modified":"2021-04-15T10:18:50","modified_gmt":"2021-04-15T00:18:50","slug":"news-in-brief-19","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2011\/09\/21\/news-in-brief-19\/","title":{"rendered":"News in Brief"},"content":{"rendered":"<ul>\n<li>Insurance Adviser Banned<\/li>\n<li>AFA FoFA Pack<\/li>\n<li>Chartered Accountants Best Placed to Give SMSF Advice<\/li>\n<\/ul>\n<p><!--more--><\/p>\n<p><strong><span style=\"text-decoration: underline\">Insurance Adviser Banned<\/span><\/strong><\/p>\n<p>The Australian Securities and Investments Commission (ASIC) has permanently banned an insurance agent from providing financial services.<\/p>\n<p>The Tasmanian agent, <strong>Phillip John Kingston<\/strong>, was convicted of two charges of stealing by agent, one charge of stealing and one charge of dishonestly acquiring a financial advantage.\u00a0 The offences constitute &#8216;serious fraud&#8217; under the Corporations Act 2001.<\/p>\n<p>ASIC says it made the decision to permanently ban Mr Kingston as it had reason to believe he is not a person of good fame and character.<\/p>\n<p><span style=\"text-decoration: underline\"><strong>AFA FoFA Pack<\/strong><\/span><\/p>\n<p>Following the release of the first tranche of the Future of Financial Advice (FoFA) legislation, the Association of Financial Advisers (AFA) has updated its <a href=\"http:\/\/mentorgroup.platformdirect.com.au\/media\/docs\/1316137988-AFA__FoFA_Member_Pack_Sept_2011_proof_v10.pdf\" target=\"_blank\" rel=\"noopener\">member information pack<\/a>.<\/p>\n<p>The pack sets out the AFA&#8217;s position with regards key areas of legislation, including the best interest duty and opt-in.<\/p>\n<p>In releasing the updated pack, AFA CEO, <strong>Richard Klipin<\/strong>, told advisers that the AFA would remain actively involved in making submissions to Treasury and lobbying key stakeholders.<\/p>\n<p><span style=\"text-decoration: underline\"><strong>Chartered Accountants Best Placed to Give SMSF Advice<\/strong><\/span><\/p>\n<p>Consumers with a self-managed superannuation fund (SMSF) need access to a higher quality of advice, according to the Institute of Chartered Accountants.<\/p>\n<p>Speaking at the Institute&#8217;s SMSF Conference, Head of Superannuation, <strong>Liz Westover<\/strong>, said:\u00a0 &#8220;More and more Australians are opting for SMSFs as their retirement savings vehicle of choice, and it&#8217;s important that they have access to quality, accurate advice when they require it.&#8221;<\/p>\n<p>&#8220;Chartered Accountants set a benchmark for high quality SMSF specialists that trustees can be confident in turning to for advice,&#8221; Ms Westover said.<\/p>\n<p>The comments come as the Institute launches a new specialisation program for its members which it says will give Chartered Accountants the opportunity to provide an even better service to the Australian public.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insurance Adviser Banned AFA FoFA Pack Chartered Accountants Best Placed to Give SMSF Advice<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-12522","post","type-post","status-publish","format-standard","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/12522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=12522"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/12522\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=12522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=12522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=12522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}