financial advice

Accounting

FSI interim report highlights need for tax deductions on advice: IPA

The results of the FSI’s interim report emphasises the need for tax deductions those who pay for financial advice, the Institute of Public Accountants claims....

Editorial

FOFA, not Commbank is Labor's target

The misdeeds which occurred within Commonwealth Financial Planning have become a stalking horse for those seeking to prevent any amendments to FOFA....

Policy & Regulation

Key accommodations ensure FOFA changes

A letter written by Senator Mathias Cormann to Clive Palmer confirms the concessions that were necessary to ensure passage of the regulations changing FOFA....

Policy & Regulation

AFA thankful FOFA reforms will stand

The Association of Financial Advisers has thanked the Palmer United Party “for its proactive action” in voting down a move to disallow the Government’s FOFA reforms....

Policy & Regulation

PUP support ensures FOFA reform regulations stand

Support from the Palmer United Party has ensured a move by the Australian Labor Party to disallow the Government’s Future of Financial Advice regulations failed in the Se...

Financial planning

FSI interim report canvasses higher planner standards

The interim report of the Financial Systems Inquiry has pointed to higher educational standards for planners, a national exam regime and tougher powers for ASIC....

Policy & Regulation

FPA compels Palmer, cross benchers to support FOFA changes

The FPA has written to Clive Palmer and fellow cross benchers to try and correct what it calls media “misinformation” around FOFA changes. ...

Policy & Regulation

Nationals' Senator eyes investigation of industry super funds' links to Labor

NSW Senator John Williams is looking forward to investigating why Labor failed to regulate commissions from industry super funds. ...

Policy & Regulation

Treasury disowns key FOFA research

Senior Treasury officials deny the Treasury has endorsed ISA-sponsored Rice Warner research on FOFA implications....

Financial planning

Industry should take lead on complex products: ASIC

ASIC wants the financial services sector to take the lead in developing standards for the issuance of complex products....

Policy & Regulation

FOFA regulatory changes facing disallowance

The Senate could disallow the Government’s FOFA changes as early as Monday unless cross-bench and PUP senators can be persuaded otherwise....

Editorial

Separation needed between product sales and advice

As scathing as the Senate Committee’s report into ASIC’s handling of the Commonwealth Financial Planning enforceable undertaking may have been, the answer does not lie in...

Policy & Regulation

Opt-in FOFA consequences for industry funds

Finance Minister, Senator Mathias Cormann, claims there’s no ‘plan B’ if the Senate disallows the FOFA changes but competitive neutrality ought require that industry fund...

Policy & Regulation

National summit urged to resolve planning issues

The FPA has urged the calling of a national summit to resolve the issues raised in the 61 recommendations of the Senate Committee report....

Financial planning

ISA slammed for “misrepresenting” banks

Industry Super Australia (ISA) has been accused incorrectly blaming the banking industry’s interests for a post-Future of Financial Advice (FOFA) return to a commissions’...