CONSUMER PROTECTION

Financial planning

The financial services ombudsman has secured $1 billion in compensation and refunds for consumers since 2018 and is on track to receive close to 100,000 complaints this f...

Superannuation

The proposed legislation could motivate advisers to enter into ongoing fee arrangements with superannuation members, according to a super body. ...

Superannuation

A leading plaintiff law firm has called for employers to be placed under a legal obligation to select the right default superannuation fund for their employees at the sam...

Financial planning

Recent media coverage of problems associated with products promoted by vertically-integrated financial services businesses have served to confirm the law is still falling...

Financial planning

The Financial Services Council has welcomed new legislation aimed to provide more protection for consumers from poor financial products....

Financial planning

Licensees will be responsible for approving 70 per cent of the continuing professional development hours undertaken by advisers under the new Financial Adviser Standards ...

Financial planning

Industry Super Australia has accused the Government of caving into the retail banks and the wealth management sector in allowing ‘carve-outs’ from the design and distribu...

Financial planning

The Financial Planning Association has suggested risk rating financial products to better target consumer protections....

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MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 1 week ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 5 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 weeks 1 day ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

2 days 21 hours ago