compliance

Financial planning

O’Dwyer wants rid of four-day adviser ‘cowboys’

The Minister for Revenue and Financial Sevices, Kelly O'Dwyer has confirmed people can call themselves as advisers with as little as four days' training and she thinks hi...

Policy & Regulation

Medcraft points to fintech bypassing intermediaries

Australian Securities and Investments Commission chairman, Greg Medcraft, has pointed to fintech developments allowing consumers to bypass intermediaries such as advisers...

Financial planning

Decimal to review digital advice compliance

Decimal has appointed Promontory Australasia to review its digital advice compliance....

Financial planning

Former planner jailed for seven years

A former Queensland financial planner has been jailed for seven years on charges including forgery and fraud....

Policy & Regulation

APRA cites group life/risk as ‘boiled frog’

The Australian Prudential Regulation Authority has cited the group life/risk sector as an example of what can go wrong when institutions ignore risk when pursuing yield....

Editorial

A fleeting glimpse of profit sharing on the other side

There have long been accusations that industry funds have been the beneficiaries of generous rebate arrangements from group insurers and both the Productivity Commission ...

Editorial

ASIC Report 499 — A grevious indictment

There can be no more grievous indictment of a service provider than that they continually charged for a service that was never provided....

Superannuation

Union deregistrations will have little impact on super boards

The Government has confirmed that deregistering a trade union is likely to have little impact on the make-up of industry superannuation fund boards....

Superannuation

APRA admits some MySuper funds are falling short

The Australian Prudential Regulation Authority has admitted that some MySuper products are falling short and may not be suitable as default funds....

Financial planning

CBA reinforces its self-reporting to ASIC

The Commonwealth Bank has reinforced the fact that it has self-reported the problems around advice clients being billed for advice they did not receive amid the high-prof...

Superannuation

ISA wants naming and shaming on unpaid EDR determinations

Industry Super Australia wants those firms guilty of not paying in line with FOS determinations to be named and shamed....

Financial planning

ASIC defines the power of the code

ASIC has confirmed it will be relying on professional associations to administer planner codes of conduct with the ultimate sanction being a planner’s loss of membership ...

Policy & Regulation

FOS already using planner expertise: Tregillis

The chief ombudsman, Shane Tregellis, has said the Financial Ombudsman Service is never reluctant to call on the expertise of planners to help in dealing with disputes....

Policy & Regulation

Is ASIC under-funding the Super Complaints Tribunal?

The Australian Securities and Investments Commission is perceived as diverting funding away from external dispute resolution towards its own regulatory agenda, according ...