parliamentary joint committee

PARLIAMENTARY JOINT COMMITTEE

Financial planning

Paying for financial advice from superannuation fees urged

Many superannuation fund members will not engage in financial advice unless it is paid for from super administration fees....

Financial planning

ASIC laments impact of AAT

ASIC has used its submission to the PJC to point to the difficulty of dealing with miscreant financial planners who appeal to the Administrative Appeals Tribunal (AAT) ma...

Superannuation

Is time running out for superannuation borrowing?

The planned review of leverage in superannuation in two years time would be premature, writes Aaron Dunn....

Policy & Regulation

FOFA effectively shortens opt-in

The Government needs to significantly amend arrangements around the fee disclosure requirements contained in the FOFA legislation to eliminate anticipated fees, and finan...

Policy & Regulation

Key accounting bodies back FOFA's opt-in arrangements

Australia's three major accounting bodies have backed the two-year opt-in arrangements contained in the Government's Future of Financial Advice arrangements, describing t...

Editorial

Australia's financial planners set to pay a heavy price for euro crisis

The political clock is ticking and, as Mike Taylor writes, global economic reality may overtake the Government’s policy agenda before it can deliver proof of a Budget sur...

Policy & Regulation

FOS warns FOFA may disadvantage unwitting clients

The Financial Ombudsman Service has told the Parliamentary Joint Committee that the FOFA bills may need to be amended to prevent clients of financial advisers being unwit...

Policy & Regulation

ISN urges PJC to leave FOFA intact

The Industry Super Network (ISN) has urged the Parliamentary Joint Committee to leave FOFA intact and lamented Government concessions on risk in superannuation and annual...

Policy & Regulation

PIS warns PJC on dangers of FOFA tranches

Professional Investment Services (PIS) warns that Shorten's approach of introducing FOFA in tranches has inherent dangers....

Policy & Regulation

Hope emerges for FOFA changes

The PJC has recommended key changes to Government legislation, providing hope it might act similarly on FOFA....

Policy & Regulation

FOFA cannot be separated from MySuper

The PJC has been warned that the availability of intra-fund financial advice makes it crucial the FOFA bills are viewed in the same context as MySuper....

Superannuation

Superannuation fund members baulk at financial advice costs

Superannuation fund members don't want to pay extra for financial advice they get over the phone or internet....

Policy & Regulation

Change of speaker changes odds on FOFA

The change of speaker in the House of Representatives has made it more likely FOFA will pass with little amendment....

Financial planning

Uncertainty surrounds Oakeshott on opt-in

Despite ongoing lobbying by financial planners, there exists no certainty that key independents Rob Oakeshott and Andrew Wilkie will support key FOFA amendments....

Editorial

FOFA impasse unlikely to be resolved

Much attention has been directed towards the manner in which a Parliamentary Joint Committee will handle the Government's Future of Financial Advice legislation but, as M...