{"id":40803,"date":"2018-05-08T20:16:57","date_gmt":"2018-05-08T10:16:57","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=40803"},"modified":"2018-05-09T09:11:59","modified_gmt":"2018-05-08T23:11:59","slug":"latest-poll-two-strikes-and-youre-out","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2018\/05\/08\/latest-poll-two-strikes-and-youre-out\/","title":{"rendered":"Latest Poll &#8211; Two Strikes and You&#8217;re Out"},"content":{"rendered":"<div id=\"polls-200\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Would you support your licensee if it implemented a 'Two Strikes and You're Out' policy on failed adviser compliance audits?<\/strong><\/div><div id=\"polls-200-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>No <small>(51%)<\/small><div class=\"pollbar\" style=\"width: 51%\" title=\"No (51% | 83 Votes)\"><\/div><\/li>\n\t\t<li>Yes <small>(31%)<\/small><div class=\"pollbar\" style=\"width: 31%\" title=\"Yes (31% | 51 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(17%)<\/small><div class=\"pollbar\" style=\"width: 17%\" title=\"Not sure (17% | 28 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_200_nonce\" name=\"wp-polls-nonce\" value=\"709f6f0632\" \/>\n<\/div>\n\n<p>As the fallout from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry continues, our latest poll references ANZ&#8217;s announcement this week that it will terminate the contracts of advisers within its bank advice network if they fail two compliance audits.<\/p>\n<p><!--more--><\/p>\n<p>The adoption by ANZ of what is effectively a &#8216;Two Strikes and You&#8217;re Out&#8217; policy initiative was part of a range of measures announced by the Bank, which it stated would help improve the quality of financial planning (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2018\/05\/08\/anz-warns-advisers-removes-sales-incentives\/\" target=\"_blank\" rel=\"noopener\">ANZ Puts Advisers on Notice<\/a>).<\/p>\n<p>Given the revelations emerging from the Royal Commission, does such a self-regulatory policy initiative from ANZ seem fair and reasonable to you? Would it seem fair and reasonable to the consumer?<\/p>\n<p>But that&#8217;s not our question. Instead of asking you to pass judgement on a policy that will apply to ANZ&#8217;s mostly salaried bank advice network, we want to know what you&#8217;d think if this policy became a condition under which you were required to operate with your current AFSL.<\/p>\n<p>If the intent in implementing such a policy is to help re-build consumer trust in financial advice, then this would appear to be a sound motivation. But is it fair and reasonable? Might there be any unintended consequcnces associated with a &#8216;Two Strikes and You&#8217;re Out&#8217; policy?<\/p>\n<p>As always, it&#8217;s over to you to continue the conversation and we&#8217;ll report back to you next week&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the fallout from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry continues, our latest poll references ANZ&#8217;s announcement this week that it will terminate the contracts of advisers within its bank advice network if they fail two compliance audits.<\/p>\n","protected":false},"author":3,"featured_media":40836,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,49],"tags":[4247],"class_list":["post-40803","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","category-polls","tag-feature"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/40803","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=40803"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/40803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/40836"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=40803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=40803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=40803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}