government and regulation

Financial planning

LMI fact sheet will provide greater education for borrowers - Genworth

Mortgage insurer Genworth Financial has supported a government move to introduce a fact sheet to educate homebuyers on home loans with lenders mortgage insurance (LMI)....

Editorial

Who dares wins in FOFA lobbying games

Assistant Treasurer, Bill Shorten, has pointedly excluded the Association of Financial Advisers from those who convinced the Government to concede ground on risk commissi...

Policy & Regulation

Foreign investment tax to be aligned with OS markets

Australia's taxation of foreign managed funds will soon be aligned with countries including the US, the UK, Hong Kong and Singapore, as the Federal Government rolls out i...

Superannuation

Around 1,700 convicted on tax and superannuation offences

A total number of almost 1,700 individuals and companies have been convicted on tax and superannuation offences in the 2010-11 financial year, according to the announceme...

Financial planning

ASIC's guide for CFD issuers

ASIC has released a regulatory guide for contracts for difference (CFD) issuers in order to provide greater disclosure to investors....

Financial planning

OnePath urges keeping it simple

OnePath acknowledges confusion over super contribution caps, but urges planners to keep it simple....

Superannuation

SPAA demands better fraud cover for SMSFs

Self Managed Super Fund Professionals' Association of Australia (SPAA) says fraud and theft is not limited to superannuation but all Australian investors....

Policy & Regulation

CEOs want certainty over FOFA - Brogden

Wealth management chief executives have called for certainty regarding the proposed FOFA changes, according to the 2011 Financial Services Council (FSC) CEO Report....

Financial planning

ASIC Commissioner goes to FOS

ASIC commissioner Shane Tregillis has been appointed chief ombudsman of Financial Ombudsman Services....

Superannuation

Action plan for SMSF collectables and personal-use assets

Some SMSFs will not need to comply with the new rules regarding collectables and personal-use assets until 1 July, 2016. However, many will need to consider what action t...

Financial planning

ASIC moves on credit licensing

ASIC has made its first move towards licensing consumer credit businesses as part of the transition to new national consumer credit laws, with over 500 financial planning...

Policy & Regulation

FOFA the focus of growing concerns and criticisms

FOFA worries drag down practice valuations and share prices as industry criticisms increase. The latest digital edition of Money Management is now online....

Superannuation

Life risk and superannuation roundtable

The upcoming FOFA reforms will see the removal of commissions on life risk products in super. Money Management conducted a roundtable discussion with leading industry pla...

Editorial

Hoping for the best from FOFA but expecting the worst

Many financial planners have lost faith in the Federal Government’s willingness to inject balance into FOFA and, as Mike Taylor writes, this attitude was not helped by re...

Superannuation

AIST supports removal of CGT trading stock exception

The Australian Institute of Superannuation Trustees (AIST) has supported the Federal Government's budget proposition to clear up rules on capital gains tax (CGT) for trad...