{"id":9729,"date":"2011-03-22T07:43:30","date_gmt":"2011-03-21T20:43:30","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=9729"},"modified":"2021-01-13T06:35:16","modified_gmt":"2021-01-12T20:35:16","slug":"asic-shadow-shopping-2011","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2011\/03\/22\/asic-shadow-shopping-2011\/","title":{"rendered":"ASIC Shadow Shopping 2011"},"content":{"rendered":"<p>The Australian Securities &amp; Investments Commission (ASIC) has announced its shadow shopping research in 2011 will focus on the quality of financial advice provided by advisers to people at retirement, and won&#8217;t be &#8216;naming and shaming&#8217;.<\/p>\n<p><!--more-->ASIC Commissioner <strong>Greg Medcraft<\/strong> said ASIC is focusing on retirement advice because the numbers of people getting ready to retire is growing, particularly baby boomers: &#8220;It&#8217;s critical people make good decisions about their retirement and get quality retirement advice to make the most of their retirement savings,&#8221; said Mr Medcraft, who went on the qualify the shadow shopping exercise in relation to the proposed Future of Financial Advice reforms:<\/p>\n<h6>&#8230; our shadow shopping will not be focused on \u2018naming and shaming&#8217; financial advisers<\/h6>\n<p>&#8220;Given the current Future of Financial Advice Reforms, our shadow shopping will not be focused on \u2018naming and shaming&#8217; financial advisers. The objective of the shadow shopping exercise is to define good quality advice to give industry guidance and help consumers maximise their retirement savings,&#8217; said Mr Medcraft.<\/p>\n<p>ASIC says its retirement shadow shopping research also aims to:<\/p>\n<ul>\n<li>Improve ASIC&#8217;s understanding of how consumers and investors view and experience the retirement financial advice process<\/li>\n<li>Provide general feedback to the financial advice industry, in particular identifying areas where conduct needs to be improved; and identify areas of suspected misconduct for further action<\/li>\n<li>Encourage continued professionalisation of retirement advisers<\/li>\n<li>Encourage people to seek financial advice when planning for retirement<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Australian Securities &amp; Investments Commission (ASIC) has announced its shadow shopping research in 2011 will focus on the quality of financial advice provided by advisers to people at retirement, and won&#8217;t be &#8216;naming and shaming&#8217;.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,3],"tags":[],"class_list":{"0":"post-9729","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-compliance-regulation","7":"category-general"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/9729","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=9729"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/9729\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=9729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=9729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=9729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}