{"id":34057,"date":"2016-08-09T13:46:42","date_gmt":"2016-08-09T02:46:42","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=34057"},"modified":"2016-08-12T14:22:00","modified_gmt":"2016-08-12T03:22:00","slug":"afa-member-calls-for-egm-on-lif","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2016\/08\/09\/afa-member-calls-for-egm-on-lif\/","title":{"rendered":"AFA Member Calls for EGM on LIF"},"content":{"rendered":"

A long term member of the Association of Financial Advisers (AFA) has called for an Extraordinary General Meeting (EGM) to move that the association opposes the proposed Life Insurance Framework (LIF) reforms.<\/p>\n

\"Mark<\/a>
Dunsford Financial Planning Managing Director, Mark Dunsford<\/figcaption><\/figure>\n

Dunsford Financial Planning Managing Director, Mark Dunsford,<\/strong> has appealed to AFA members to support a call for the EGM via an email campaign sent through the Life Insurance Customer Group<\/a> (LICG) and addressed to AFA members of the LICG.<\/p>\n

In his letter to members Dunsford stated he intended to call for an EGM of the AFA Board to voice his concerns about the Life Insurance Framework and propose the AFA withdraw its’ support for proposed reforms and oppose the framework in its current form “…because it will provide poor and detrimental outcomes for consumers”.<\/p>\n

A proposed special resolution to amend the AFA’s constitution, included in the request for EGM form states the AFA should \u201c\u2026proactively continuously and wholeheartedly oppose the introduction or passing of the former Corporations Amendment (Life Insurance Remuneration Arrangements) Bill 2016 or any other legislation substantially to the same effect or purpose\u201d.<\/p>\n

It would also require the AFA to \u201c…canvass wide public and government support for the proposition that that Bill or any other legislation substantially to the same effect or purpose, would be contrary to the public interest\u201d.<\/p>\n

…these two activities should be the \u201c\u2026primary and leading object of the Association\u201d<\/h6>\n

The resolution also stated these two activities should be the \u201c\u2026primary and leading object of the Association\u201d and should be pursued \u201c\u2026using all means reasonably available to the Association\u201d.<\/p>\n

Dunsford called on AFA members to complete and return an EGM request form and forward it\u00a0\u201c\u2026to all the AFA members who feel they should have been consulted and do not agree with the LIF \u2018Reforms\u2019\u201d.<\/p>\n

In closing his appeal Dunsford stated he was interested in better consumer outcomes against banks and insurers who were offering poor products.<\/p>\n

\u201cI wish to reiterate this action is about achieving better outcomes for Australian Consumers and allow good advisers who have served consumers to continue to serve for many years to come,\u201d Dunsford said.<\/p>\n

AFA Chief Executive Brad Fox<\/strong> said the association was aware of the request for an EGM but had not yet received a valid request for a meeting and that under the Association’s constitution any request for an EGM would require at least 100 members to complete and return valid forms.<\/p>\n","protected":false},"excerpt":{"rendered":"

A long term member of the Association of Financial Advisers (AFA) has called for an Extraordinary General Meeting (EGM) to move that the association opposes the proposed Life Insurance Framework (LIF) reforms.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,259,8,270],"tags":[],"class_list":["post-34057","post","type-post","status-publish","format-standard","category-associations","category-breaking","category-compliance-regulation","category-remuneration"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/34057","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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=34057"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/34057\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=34057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=34057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=34057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}