parliamentary joint committee

PARLIAMENTARY JOINT COMMITTEE

Policy & Regulation

The Australian Bankers' Association has warned that unintended consequences flowing from FOFA may force restructures within the major banks....

Policy & Regulation

MySuper must be considered with FOFA: CSSA

There is too much crossover between MySuper legislation and Future of Financial Advice (FOFA) legislation for the two to be considered separately, according to the Corpor...

Policy & Regulation

FOFA will 'decimate' industry, warns AFA

The Association of Financial Advisers has warned that consumers are the missing ingredient in FOFA legislation which risks decimating the financial planning industry....

Policy & Regulation

End FOFA carve-outs, say consumer groups

Consumer groups including Choice and the Australian Shareholders Association (ASA) have welcomed the Government's Future of Financial Advice (FOFA) bills but argue they n...

Policy & Regulation

End-investor rebate risks in FOFA bills

Vanguard Investments has warned the wording of the FOFA bills runs contrary to the best interests of end investors....

Policy & Regulation

Risk brokers resent FOFA's 'one size fits all'

The National Insurance Brokers Association has warned of unnecessary fall-out from FOFA's 'one size fits all' approach....

Policy & Regulation

Law Council warns on FOFA deficits

The Law Council of Australia has warned that the Government's FOFA changes risk going further than is necessary to achieve their core outcomes....

Financial planning

Financial planner opt-in to cost $95 per client per year

Matrix dismisses the $11 estimate on financial planner opt-in as ridiculous and cites a figure of $95 per client per year....

Financial planning

BFPPG calls for end to volume rebates

BFPPG urges PJC to recognise need to separate product from financial advice by banning volume rebates....

Policy & Regulation

AustralianSuper urges against FOFA delay

AustralianSuper has urged against any delays to the implementation of FOFA, claiming the financial advice industry has had sufficient time....

Financial planning

BFPPG calls for end to volume rebates

BFPPG urges PJC to recognise need to separate product from financial advice by banning volume rebates....

Policy & Regulation

FOFA bills fail to meet financial advice objectives - FPA

The FPA has warned the Parliamentary Joint Committee the FOFA bills, as drafted, will fail to meet the objectives of better and more accessible financial advice....

Policy & Regulation

NAB/MLC warning on high cost of FOFA fee disclosure

NAB/MLC have warned that FOFA fee disclosure proposals will add millions to the financial advice process....

Policy & Regulation

FOFA fails on group remuneration

The FOFA changes have failed to provide an appropriate model for fees to be charged for services provided on a group basis, significantly disadvantaging those assisting c...