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The implementation of the Future of Financial Advice (FOFA) reforms looks set to remain "medium soft" until 1 July 2014, according to Shadow Treasurer Mathias Cormann. ...
INDUSTRY NEWS
Financial planners who give tax advice in the course of advising on financial products are set to fall within the regulatory regime of the Tax Practitioners Board....
INDUSTRY NEWS
From 1 July this year, planners will have to divide their client base into pre-FOFA and post-FOFA clients, according to Madison Financial Group head of compliance Cheyenn...
INDUSTRY NEWS
Updated regulatory guidance published by the Australian Securities and Investments Commission (ASIC) late last year has shifted much of the compliance burden directly ont...
INDUSTRY NEWS
ASIC has outlined its regulatory approach on the key questions of best interests and scaled advice, including the "safe harbour" elements....
INDUSTRY NEWS
A former Sydney tax consultant has been sentenced to two years in jail for insider trading, in which it was alleged he profited to the tune of about $50,000....
INDUSTRY NEWS
Over 80 per cent of financial services chief executives believe the Future of Financial Advice (FOFA) reforms will drive up the cost of operating a financial advisory net...
INDUSTRY NEWS
IOOF has announced a range of changes to the fee structure of its Pursuit platform with an eye to ensuring it is ready for incoming FOFA changes....
INDUSTRY NEWS
There is no reason why the Australian Securities and Investments Commission (ASIC) should not approve a code of conduct for a single licensee or dealer group, says Minter...
INDUSTRY NEWS
ASIC is planning to release further information which would complement consultation papers regarding issues such as recommending products outside of an APL, fee disclosur...
INDUSTRY NEWS
Commissioner of Taxation Michael D'Ascenzo is stepping down from his role at the end of 2012 after a seven-year term, according to a Government statement....
INDUSTRY NEWS
A consulting firm predicts many financial planning practices and dealer groups will fail to get FOFA-ready....
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The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...