disclosure

Superannuation

Super investments disclosure benefits not yet proven

The regulatory or consumer benefits for superannuation funds to report portfolio holdings has not been demonstrated by the Federal Government according to a leading legal...

Funds management

ASIC disappointed by review of property scheme disclosure

A review of disclosure to investors by the unlisted property industry has been described as “disappointing” by ASIC....

Superannuation

ASIC identifies inconsistencies in fee disclosure

Superannuation funds risk falling foul of new legislation due to inconsistent fee and cost disclosure practices, an ASIC report reveals....

Financial planning

Sentry subject to client reviews following ASIC action

Sentry Financial Services to write to SMSF clients after ASIC surveillance of corporate authorised representative...

Financial planning

ASIC considers automatic MIS registration

ASIC considers allowing managed investment schemes to be automatically registered, with non-compliant schemes regulated by stop-orders....

Life/Risk

Court raises bar for risk advisers

A recent Victorian Supreme Court decision has serious implications for risk advisers....

Financial planning

Treasury claims planners are integral to consumer engagement

The Department of Treasury has pointed to the role of financial advice in assisting consumers to engage with the financial system....

Accounting

Declare interests before crackdown: ATO

The Australian Taxation Office (ATO) is pushing all taxpayers with offshore assets to declare their interests before it starts a global clampdown on tax evasion....

Financial planning

Disclosure ineffective deterrent for law breakers: ASIC

ASIC frustrated that the penalty regime imposed is less than the profit companies gain from poor behaviour, and that disclosure is no longer a 'disinfectant’ for law-brea...

Superannuation

ASFA hits AUSTRAC on fuzzy definitions

AUSTRAC criticised for failing to appropriately define politicians, senior public servants and senior members of the military. ...

Financial planning

Advisers risk losing clients

Almost a third of advised Australians last heard from their financial planner more than a year ago, which puts them “at risk” of switching, a report says....

Financial planning

ASIC reviews shorter PDS guidance

ASIC has released updated guidelines on its shorter Product Disclosure Statement (PDS) push, reminding superannuation providers to detail cooling-off periods and costs. ...

Superannuation

Proposed SMSF compensation warning “too simplistic”, says SPAA

Warning self-managed super funds (SMSFs) that they are not entitled to compensation is too “simplistic” and needs to factor in all financial assistance available....

Superannuation

ASIC denies prescriptive disclosure for SMSFs

ASIC wants investors to be better informed before establishing SMSFs but denies it will pursue prescriptive new disclosure requirements....

Financial planning

Lender enters into EU over interest rate errors

Fair Loans Foundation has entered into an enforceable undertaking under which it will refund 864 consumers around $157,000 in overcharged interest. ...