financial advice

Policy & Regulation

Actions of one senator undermined advice sector: Trapnell

The actions of one senator reversing their support for the Government’s Future of Financial Advice (FOFA) reforms will undermine competition in the advice sector, Synchro...

Policy & Regulation

FOFA a failure until it lifts entry standards

FOFA reforms as they stand push affordable advice further out of reach without addressing consumer protection, academic says. ...

Financial planning

Whose AFSL are union officers working under?

ASIC has answered parliamentary questions about superannuation union liaison officers, the type of advice they can provide and whose AFSL they might be working under....

Policy & Regulation

FOFA disallowance a significant step-back for industry: Chan & Naylor

Labor’s move to block the Government’s FOFA reforms will stifle the financial services industry and could render it a basket case on the international stage, a legal expe...

Policy & Regulation

FOFA windback hurts consumers who have received advice

The disallowance of the Future of Financial Advice amendments may hurt consumers who will not be able to access scaled advice and may be forced to change to less suitable...

Financial planning

FPA won’t defend the indefensible

FPA’s outgoing chairman, Matthew Rowe, says the FPA won’t seek to defend the indefensible where bad advice is concerned....

Policy & Regulation

FOFA disallowance reduces affordability of advice: FSC

Fewer Australians will be able to afford to obtain financial advice following the Senate’s decision to disallow the Government Future of Financial Advice regulations, the...

Policy & Regulation

Labor votes down FOFA amendments

The Federal Opposition has voted down the amendments to FOFA after protracted debate and procedural wrangling which occupied most of yesterday’s sitting time....

Policy & Regulation

ASIC urged to be facilitative on FOFA

The FPA has urged a facilitative approach from ASIC as planners seek to comply with the Senate imposed FOFA reversal....

Financial planning

Advisers should get SMSF-specific training

AMP SMSF has backed calls for making it compulsory for financial advisers to undertake specific training if they are going to advise on SMSFs....

Policy & Regulation

FOFA disallowance motion blocked by Govt

Efforts to pass a motion in the Federal Senate to disallow FOFA amendments have stalled for the time being after the Federal Government blocked a vote on the motion....

Policy & Regulation

FOFA disallowance motion ‘catastrophic’: FPA

The FPA has denounced efforts in the Senate to disallow amendments to FOFA predicting changes will automatically place advisers in breach of the law....

Policy & Regulation

Labor has Senate numbers to defeat FOFA amendments

The Federal Opposition will push to disallow the FOFA amendments in the Senate after Labor Senator Sam Dastyari stated it had secured the numbers to win a vote on the mat...