Information flow changes course
Fresh off the back of the alienation of personal services income legislation and the Financial Services Reform Bill (FSRB), the financial services industry has yet another legislative amendment to contend with.
The Privacy Amendment (Private Sector) Act 2000 passed by the Federal Government last December will come into effect on 22 December, 2001.
The Act will create a stricter environment for the use and movement of information, causing planners to review methods and processes used in client relationships.
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Despite the year almost at an end, advisers have been considerably active in licensee switching this week while the profession has reported a slight uptick in numbers.
AMP has agreed in principle to settle an advice and insurance class action that commenced in 2020 related to historic commission payment activity.
BT has kicked off its second annual Career Pathways Program in partnership with Striver, almost doubling its intake from the inaugural program last year.
Kaplan has launched a six-week intensive program to start in January, targeting advisers who are unlikely to meet the education deadline but intend to return to the profession once they do.
