FOFA

Policy & Regulation

The banks are circumventing FOFA says ISA

The major banks are looking to find ways around the Future of Financial Advice changes, according to Industry Super Australia....

Financial planning

Extend FOFA to general advice says FSU

The Finance Sector Union has argued for the extension of the Future of Financial Advice best interests duty to general advice....

Financial planning

FOFA not designed to address vertical integration

FOFA reforms were never intended to address the issues that emerged out of vertically integrated advice businesses and needs to be examined separately, the FPA said....

Features

Harnessing technology for efficiency

Technology may be vital for increasing efficiency and decreasing costs but the key to achieving this lies in how financial advice practices implement and utilise it, Jass...

Features

Financial planning at another crossroad

Mike Taylor writes that the creation of the Financial Adviser Standards and Ethics Authority has brought the financial planning industry to another crossroad on its journ...

Financial planning

FPA submission laments high cost of FOFA

The Future of Financial Advice has cost a great deal of money and the jury is still out on the ultimate benefits, according to a Financial Planning Association submission...

Financial planning

Managed accounts meets post-FOFA needs

Managed accounts met the requirements of the post-FOFA world of compliance, client centricity and scalability, and had grown 27 per cent in the six months to December 20...

Policy & Regulation

ASIC gets Federal Court orders on FOFA breaches

The Australian Securities and Investments Commission has obtained Federal Court orders against an advice firm accused of FoFa breaches....

Policy & Regulation

Banks and insurers not capable of self-regulation says union

The Future of Financial Advice ban on conflicted remuneration should be expanded to encompass the salaries of bank executives, according to the Finance Sector Union....

Editorial

Different sauce for the industry funds gander

What is the difference between a ‘rebate’ and a ‘commission’ and is a different standard being applied to the ‘risk sharing rebates’ paid to industry funds by insurers?...

Policy & Regulation

FOFA contains too many remuneration exemptions

A Parliamentary Committee has been told the Future of Financial Advice regime contains too many exemptions to make it effective in removing the sales culture within Austr...

Policy & Regulation

ASIC wants powers beyond its FOFA mandate

The Australian Securities and Investments Commission has urged a Senate Committee to give it powers to deal with licensees and planners beyond those contained in the FOFA...

Editorial

Why mortgage brokers should be worried

The Australian Securities and Investments Commission review of Mortgage Broker Remuneration is reminiscent of the findings which gave rise to the Future of Financial Advi...

Financial planning

Extend FOFA remuneration bans says AFA

The Association of Financial Advisers says the FOFA ban on conflicted remuneration needs to be extended to other financial services operatives including property spruiker...