{"id":57544,"date":"2021-09-14T15:20:08","date_gmt":"2021-09-14T05:20:08","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=57544"},"modified":"2024-10-30T08:44:45","modified_gmt":"2024-10-29T22:44:45","slug":"split-opinion-over-fairness-of-asic-adviser-levy","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2021\/09\/14\/split-opinion-over-fairness-of-asic-adviser-levy\/","title":{"rendered":"Split Opinion Over Fairness of ASIC Adviser Levy"},"content":{"rendered":"<div id=\"polls-262\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>The reduced ASIC funding levy of $1,142 per adviser is fair and equitable.<\/strong><\/div><div id=\"polls-262-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Disagree <small>(48%)<\/small><div class=\"pollbar\" style=\"width: 48%\" title=\"Disagree (48% | 85 Votes)\"><\/div><\/li>\n\t\t<li>Agree <small>(38%)<\/small><div class=\"pollbar\" style=\"width: 38%\" title=\"Agree (38% | 67 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(14%)<\/small><div class=\"pollbar\" style=\"width: 14%\" title=\"Not sure (14% | 25 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_262_nonce\" name=\"wp-polls-nonce\" value=\"4b82a54791\" \/>\n<\/div>\nAdvisers differ as to whether they believe ASIC&#8217;s reduced funding levy is fair and equitable.<\/p>\n<p>As we go to press this week, just under half of those who have voted in our latest poll (45%) do not believe the reduced $1,142 annual adviser fee is fair and equitable.<\/p>\n<p>This result should come as no surprise, given another recent poll told us that most advisers (82%) disagree in principle that advisers should have to fund ASIC&#8217;s industry oversight at all (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2021\/08\/10\/majority-of-advisers-reject-self-funding-asic-oversight\/\" target=\"_blank\" rel=\"noopener\">Majority of Advisers Reject Self-Funding&#8230;<\/a>). In fact, we raised an eyebrow when &#8216;only&#8217; 45% disagreed with this latest poll question.<\/p>\n<p>Meanwhile, the votes cast by 39% of those taking our poll suggest there&#8217;s a significant group of advisers who do see the reduced annual fee as fair and equitable, while around one in six (16%) have yet to make up their mind.<\/p>\n<blockquote><p>&#8230;A fee must first pass the benefit gained test before it can be determined if it is a fair amount<\/p><\/blockquote>\n<p>One comment we received from long-time NSW adviser and Riskinfo contributor, <strong>Jeremy Wright<\/strong>, may well represent the view held by many of the 45% who believe the annual levy is neither fair nor equitable. Wrights notes, &#8220;<em>A fee must first pass the benefit gained test before it can be determined if it is a fair amount.<\/em>&#8221; In relation to the ASIC adviser funding levy, Wright\u2019s conclusion is that \u201c\u2026<em>even $1 is too much<\/em>.\u201d<\/p>\n<p>Where do you stand on this question? Do you agree with Jeremy Wright? Or do you look at things a little differently. Neither view is right (pardon the pun) nor wrong. It&#8217;s more a question of your own circumstances and experiences as an adviser &#8211; but we welcome your views either way.<\/p>\n<p>Our poll remains open for another week as the wheels of regulatory reform continue to roll into what remains an uncertain future for many advisers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Advisers differ as to whether they believe ASIC&#8217;s reduced funding levy is fair and equitable. As we go to press this week, just under half of those who have voted in our latest poll (45%) do not believe the reduced $1,142 annual adviser fee is fair and equitable. This result should come as no surprise, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":57552,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,49],"tags":[],"class_list":["post-57544","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","category-polls"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/57544","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=57544"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/57544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/57552"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=57544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=57544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=57544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}