consumer protection

Financial planning

AFCA’s complaints resolution scheme passes $1bn mark

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

Advice fee bill will incentivise super switching

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

Superannuation

Call to place employers under legal obligation on default super

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

Vertical integration still problematic for advice

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

FSC welcomes new laws to protect consumers

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

Financial planning

Licensees at centre of FASEA CPD regime

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

Advice carve-outs undermine RC findings, says ISA

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...