FASEA exam extension bill passes
The Financial Adviser Standards and Ethics Authority (FASEA) exam extension legislation has passed the Senate.
The Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator Jane Hume has announced the passage on the basis of the Government keeping a promise to the financial planning industry.
The passage of the legislation, part of an omnibus bill, was owned to Government negotiations with Senate cross-benchers.
If the legislation had not passed, the only option open to the industry would have been class order relief delivered by the Australian Securities and Investments
Recommended for you
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.