BEST INTEREST DUTY

Financial planning

Proposed legislative changes to safe harbour duty could result in advisers having reduced professional indemnity costs, a joint submission by seven major licensees said....

Financial planning

The Advisers Association believes Australia runs the risk of a “back to the future” scenario that served it poorly in the past unless guardrails are put in place on non-r...

Financial planning

The long-awaited recommendations of the Quality of Advice Review include replacing the existing best interest duty with a 'true fiduciary' alternative. ...

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Financial planning

Moving to Letters of Advice, abolishing safe harbour steps to comply with best interest duty and indexing the wholesale assets test are among proposals made by the Financ...

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Financial planning

Providing simple financial advice should not need best interest duty as the amount of risk a consumer would take is low and unlikely to be against their interests, accord...

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Financial planning

ASIC said Kyle Marshall did not understanding the meaning of personal advice and did not act in his clients’ best interest....

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Policy & Regulation

Industry superannuation funds have welcomed the Royal Commission’s final report, but financial planning groups are concerned about the outcome for their members....

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People & Products

The research house has included superannuation research in its iRate platform, making an understanding of super “no longer optional” for advisers....

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Financial planning

Industry Super Australia has objected to exempting personal financial advice from product design and distribution obligations, arguing planners need to be held responsibl...

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Financial planning

NSG Services has faced a civil penalty of $1 million by the Federal Court in the first breach of the best interest duty....

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Financial planning

A major industry superannuation fund has claimed banks and ‘for profit’ superannuation funds are incapable of acting in member’s best interests and should therefore be ve...

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Features

The recent court decision against NSG Services Pty Ltd may not have clarified what constitutes ‘best interest’ but it highlighted the ‘reasonable steps’ an AFSL must take...

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Financial planning

ASIC has provided updated guidance on FOFA, best interest duty, and record keeping obligations for licensees and authorised representatives in its RG175....

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Policy & Regulation

ASIC has initiated its first ever action relating to alleged breaches of the FOFA best interests duty....

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MARKET INSIGHTS

Simon

If the parent company of Dixons (Evans & Partners) is still operating (and very very profitably too) should the next que...

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ChrisC

I would also like to know, at what point investors become responsible for the investments they make?...

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