AFA

Policy & Regulation

Has successful litigation been enough to cover ASIC levy difference?

Successful litigation against NAB, Westpac and Dixon Advisory could add enough to the corporate regulators coffers to cover the difference from the reduced levy....

Policy & Regulation

ASIC levy relief welcomed

Industry bodies have welcomed the Government’s decision to implement a temporary reduction in cost recovery levies for the next two years, as well as a review of the indu...

Financial planning

Enforcement costs should be removed from ASIC levy

The Association of Financial Advisers has called for a permanent removal of enforcement costs along with costs associated with investigation and actions against unlicense...

Financial planning

Advisers need sufficient understanding of Oct reforms

There is likely to be broad issues with lack of awareness and preparedness with the five reforms coming into play in October, according to the Association of Financial Ad...

Policy & Regulation

Industry bodies unite against CSLR draft

Eight industry associations say the compensation scheme of last resort will become a “go to” rather than a last resort and excludes product providers from accountability....

Financial planning

Media perception of industry tough to overcome

As only a fraction of the population receives financial advice, overcoming media perception is the most challenging factor in building trust with the broader community, a...

Financial planning

Will stapling add to the advice gap?

Already having difficulties accessing advice, stapling could add to the challenges younger generations face in getting the right financial products....

Financial planning

FASEA believes exam is 'fair'

While the authority argues the high pass rate shows it is an achievable exam for “competent” advisers and has been a boost for consumer confidence in the industry, data s...

Financial planning

Existing clients the missing voice in advice regulation

Existing clients should be asked whether they see value in financial advice reforms and whether they are happy to be paying more for those protections, the Association of...

Financial planning

Rise in financial advice costs ‘distressing’: Parliamentary committee chair

Many of the remaining Hayne Royal Commission recommendations will do nothing more than harm and damage ordinary Australian consumers, a member of a parliamentary committe...

Financial planning

AFCA praises advisers for compliance

As industry organisations face Parliament to argue against rising regulatory levies, the Australian Financial Complaints Authority has praised financial advisers for rece...

Financial planning

Govt forcing advisers to be litigation funders: AFA

Indirect costs associated with the corporate watchdog’s levy has risen to $24.5 million and these costs are closely related to the increased spending on litigation fundin...

People & Products

AFA appoints CEO

Helen Morgan-Banda has been chief executive for the Law Society of New Zealand and the Royal New Zealand College of General Practitioners, and held corporate affairs posi...

Policy & Regulation

Advisers to foot CSLR bill

Around three-quarters of financial advisers will have to fund the cost of the Compensation Scheme of Last Resort, and the range of products included in the government’s p...

Financial planning

FASEA standards don’t adequately recognise previous study

There needs to be a better recognition of previous study undertaken by financial planners, and in particular continuing professional development studies, according to the...