The long-awaited recommendations of the Quality of Advice Review include replacing the existing best interest duty with a 'true fiduciary' alternative. ...

Moving to Letters of Advice, abolishing safe harbour steps to comply with best interest duty and indexing the wholesale assets test are among proposals made by the Financ...

Providing simple financial advice should not need best interest duty as the amount of risk a consumer would take is low and unlikely to be against their interests, accord...

ASIC said Kyle Marshall did not understanding the meaning of personal advice and did not act in his clients’ best interest....

Industry superannuation funds have welcomed the Royal Commission’s final report, but financial planning groups are concerned about the outcome for their members....

The research house has included superannuation research in its iRate platform, making an understanding of super “no longer optional” for advisers....

Industry Super Australia has objected to exempting personal financial advice from product design and distribution obligations, arguing planners need to be held responsibl...

NSG Services has faced a civil penalty of $1 million by the Federal Court in the first breach of the best interest duty....

A major industry superannuation fund has claimed banks and ‘for profit’ superannuation funds are incapable of acting in member’s best interests and should therefore be ve...

The recent court decision against NSG Services Pty Ltd may not have clarified what constitutes ‘best interest’ but it highlighted the ‘reasonable steps’ an AFSL must take...

ASIC has provided updated guidance on FOFA, best interest duty, and record keeping obligations for licensees and authorised representatives in its RG175....

ASIC has initiated its first ever action relating to alleged breaches of the FOFA best interests duty....