Financial Services

Policy & Regulation

ASIC claims to have planners in its regulatory ranks

The Australian Securities and Investments Commission is insisting it has empathy for financial planning licensees because it has both former advisers and paraplanners in ...

Funds management

Is Liberal-led committee picking on IFM Investors?

The industry funds-owned IFM Investors is suggesting that the Liberal-dominated House of Representatives Standing Committee on Economics is unreasonably singling it out f...

Financial planning

Financial services jobs see boost

Despite much of the job market struggling due to the COVID-19 pandemic, financial and insurance services have seen a boost in openings in June. ...

Policy & Regulation

Six-month deferral for Royal Commission commitments

The implementation of recommendations from the Royal Commission will be deferred for six months to allow the industry to deal with the impact of COVID-19....

Financial planning

Finance sector crucial for environment

Some 90% of Australians think that the finance sector has a crucial role to play in generating positive environmental and economic outcomes, according to the Responsible ...

Policy & Regulation

ASIC unveils regime for foreign financial services providers

The Australian Securities and Investment Commission has released its new regulatory framework for foreign financial services providers who are providing services to Austr...

Policy & Regulation

No recourse to members’ money for super funds that err

Superannuation fund trustees will not be able to resort to members’ funds held in trust to pay civil penalties arising from the new Financial Accountability Regime....

Policy & Regulation

FSC warns of increased expense under Financial Accountability Regime

Experience in the United Kingdom suggests it may be a lot more expensive to recruit and retain senior executives under the Government’s proposed new Financial Accountabil...

Funds management

Markets are ‘waking up’ to reality of coronavirus

According to deVere Group, coronavirus, as well as other geopolitical and trade tensions, could push the world to the brink of a recession....

Financial planning

FSC canvasses capital requirements for advice licensees

The Financial Services Council has canvassed the imposition of capital requirements on advice licensees as part of any compensation scheme of last resort at the same time...

Financial planning

Deals across financial services industry total $32b

The global financial services industry has seen deals for December 2019 stand at $32 billion, according to GlobalData’s deals database....

Financial planning

ASIC permanently bans NSW adviser

The Australian Securities and Investments Commission has permanently banned Nicholas Ellis who was previously banned for six years for dishonest conduct....

Policy & Regulation

FSC argues for exclusion of ‘experts’ from new claims-handling rules

Accountants, doctors and other should be excluded from the coverage of claims handling as a financial service and insurers should be allowed to continue giving ‘factual s...

Life/Risk

Insurers and claim-related parties may look to merge under one AFSL

Legislation surrounding the regulation of claims handling may have insurers and related parties look to fall under a single Australian Financial Services License to ease ...

Financial planning

Australia’s financial services sector faces 6 risks

The Australian financial services sector must address six critical challenges in order to navigate risks and opportunities, according to the Australian Sustainable Financ...