government

Superannuation

Financial Services Council chief executive, John Brogden, has labelled the existing default super regime a “racket” which is standing in the way of lower super fees....

Policy & Regulation

Bowen says FOFA on agenda until next election

Opposition to consider reworked FOFA policy for next election as industry reports confirm need to oppose amendments....

Superannuation

Corporate super advisers caught in hiatus on advice

Corporate superannuation advice is caught between legislation and government inaction threatening the provision of advice....

Superannuation

Lobbyists target banks over MySuper data

Industry fund lobbyists have had a go at the big banks, saying only $13 billion of savings in bank-owned funds have moved into MySuper....

Policy & Regulation

Labor’s FOFA block defeated

Plans to disallow significant portions of the Government’s FOFA reforms have been blocked by the Senate....

Financial planning

ASIC has power on planner education: Cormann

ASIC has the power to move to lift planner education standards, according to Finance Minister, Mathias Cormann....

Policy & Regulation

Give FOFA time to work says AMP CEO

AMP chief exeuctive, Craig Meller says financial services reform has cost his company hundreds of millions of dollars and should be given time to work....

Policy & Regulation

Bankers back Government’s FOFA reforms

The Australian Bankers’ Association has voiced its support for moves to boost the professional standards in the financial advice sector....

Financial planning

Adviser registry to provide cost-efficient transparency

The Government's proposed registry of financial advisers will provide transparency without the costs associated with regulation the Minister for Finance and acting Deputy...

Editorial

Compensation beyond PI

With a third of FOS determinations going unpaid the efficacy of Professional Indemnity insurance as a compensation mechanism is under question and, as Mike Taylor reports...

Policy & Regulation

Labor ‘insultingly stupid’ on FOFA: Hockey

Claims that the Government should tighten its legislation regulating the financial advice industry have been dismissed as “insultingly stupid”, by the Federal Treasurer, ...

Policy & Regulation

Labor pleas for FOFA legislation to be delayed

Legislation enshrining the Government’s FOFA reforms should be delayed until after the FSI’s final report is issued, Labor believes....

Superannuation

Industry funds outperform banks by 1.97pc

Industry superannuation funds are continuing to outperform bank-owned alternatives, new data from SuperRatings reveals....

Policy & Regulation

Trust ‘absolutely critical’ to future of financial advice: AFA

Debate over the Government’s FOFA amendments has distracted Australians from focusing on the real purpose of financial advice, the AFA believes....

Editorial

Separation the only answer

While ASIC continues to press for more powers with respect to bank management staff and product design, Mike Taylor writes that the real answer lies in successfully separ...