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FINANCIAL OMBUDSMAN SERVICE
Life/Risk
In the ongoing debate about risk insurance fees versus commission, it’s time to think about the financial adviser's value proposition, writes Col Fullagar. ...
Financial planning
Some financial services licensees claim parts of the regulatory guidance on scaled advice are still open to interpretation - which could potentially lead to liability iss...
Financial planning
Financial planning licensees need to take a close look at their Approved Product Lists (APLs) to ensure they are sufficiently broad, according to Minter Ellison partner R...
Editorial
Mike Taylor argues that if financial planners are to follow a template for becoming a profession, they should choose medicine over the law....
Financial planning
The FPA received a large amount of useful feedback from members and other stakeholders when consulting on its updated professional code of conduct....
Life/Risk
The Insurance Council of Australia has backed the Financial Ombudsman Service's external dispute resolution process following the release of the FOS annual review....
Financial planning
There was another significant jump in the number of disputes both received and resolved by the Financial Ombudsman Service in 2011-2012, according to the latest FOS annua...
Financial planning
The AIOFP may consider implementing a fund to help its members cope with adverse FOS findings....
Financial planning
The industry should have a clearer idea within the next two weeks of how a code of conduct will obviate the need for opt-in....
Financial planning
A legal challenge to a Financial Ombudsman Service determination regarding client losses in frozen unlisted investments has been dismissed by the Western Australian Supre...
Financial planning
The number of disputes relating to investments taken to FOS in the 2011-12 financial year dropped by 13 per cent on the previous year....
Financial planning
The Financial Ombudsman Service has identified further systemic issues where financial services providers are incorrectly making credit default and credit infringement li...
Financial planning
The Financial Ombudsman Service resolved a record number of disputes in the April to June quarter, while the number of disputes received dropped slightly....
Life/Risk
Insurance brokers have told Money Management Vero Insurance representatives have alerted them to a price hike of up to 50 per cent to Vero's professional indemnity insura...
Editorial
Financial planners are required to be members of an approved external disputes resolution service but they may not always know whether they are getting value for money....
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MARKET INSIGHTS
Podcast
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...
So we are now underwriting criminal scams?...