Still no movement on FASEA timetable
The Assistant Minister for Superannuation, Financial Services and Financial Services Technology, Senator Jane Hume left a number of advisers disappointed when she did use her address to the Association Financial Advisers (AFA) conference to announce an extension to the Financial Adviser Standards and Ethics Authority exam deadline.
A day earlier at the Financial Services Council (FSC) Leaders Forum in Sydney Hume expressed sympathy for advisers and the challenges with which they were being confronted but did not significantly extend on those comments in Adelaide.
Both the AFA and the Financial Planning Association (FPA) have been lobbying hard to achieve an extension of the timetable to ensure it aligns with the timescale outlined by former minister, Kelly O’Dwyer.
They remain hopeful that the Government will still move to amend the legislation which would allow the timetable extension.
Recommended for you
ASIC has launched court proceeding against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
