RC | Money Management

RC

Superannuation

Call to place employers under legal obligation on default super

A leading plaintiff law firm has called for employers to be placed under a legal obligation to select the right default superannuation fund for their employees at the sam...

Policy & Regulation

Make annual opt-in flexible, workable says AFA

Advisers and their clients should retain control of opt-in arrangements and there should be flexibility for low fee-paying clients with less frequent interactions, accord...

Life/Risk

Insurers and claim-related parties may look to merge under one AFSL

Legislation surrounding the regulation of claims handling may have insurers and related parties look to fall under a single Australian Financial Services License to ease ...

Life/Risk

ASIC’s TAL case will test insurers’ rights

The Australian Securities and Investments Commission’s Federal Court case against major insurer, TAL, will test the circumstances and extent to which life insurers can ga...

Financial planning

Advisers can deepen client relationships with model portfolios

Advisers can use model portfolios to free up time to build and maintain relationships with clients, according to State Street Global Advisors....

Life/Risk

ASIC takes TAL to court on RC charges

Major life insurer TAL has been taken to court by the Australian Securities and Investments Commission on charges relating to issues raised during the Royal Commission in...

Financial planning

FASEA board accused of shunning industry

Questions are being asked about why the board of the Financial Adviser Standards and Ethics Authority has avoided direct engagement with key industry groups for more than...

Policy & Regulation

Banks and financial services firms face trust issue

Banks and financial services firms have been revealed as having major consumer trust issues with new Roy Morgan research revealing that only Bendigo and Adelaide Bank and...

Financial planning

Banks urged to show leniency on grandfathering loans

The Association of Financial Advisers has urged banks who loaned money to advisers to buy books of clients to show leniency....

Financial planning

BOLR rights ‘not a sure thing’

The buyer of last resort process is more complicated than advisers might expect as some licensees are focusing on where they can manoeuvre away from the agreed valuation,...

Policy & Regulation

BOLR: not cut and dried

Melbourne-based lawyer, Dan Mackay, argues that AMP is on far from firm legal ground in its approach to advisers and Buyer of Last Resort....

Financial planning

2,900 advisers leave industry in wake of banks, AMP

The exit of the Big Four banks and the change in strategy by AMP Limited will see planner numbers decrease by almost 2,900, according to the latest findings from this yea...

Financial planning

Grandfathering – ASIC relied on sample-based data

The Australian Securities and Investments Commission has admitted that its earlier pronouncements on ending grandfathered commissions was based on sample-sized data....

Financial planning

ASIC looks to super funds as advice providers

The Australian Securities and Investments Commission has acknowledged the likelihood of an advice gap, particularly for lower income earners, but is looking to superannua...

Financial planning

End TPB/FASEA duplication says FSC

There is an urgent need to end the regulatory overlap between the Tax Practitioners Board and the Financial Adviser Standards and Ethics Authority, according to the Finan...