treasury

Financial planning

FPA makes Budget recommendations for advisers

The Financial Planning Association of Australia has urged the Government to extend the freeze on the ASIC levy for one more year, among several Budget recommendations....

Policy & Regulation

Treasurer launches RBA review

Treasurer Jim Chalmers has launched a review of the Reserve Bank of Australia to ensure it is the “world’s best central bank”. ...

Financial planning

Budget 2022: Unemployment to reach 48-year low in September

Unemployment is forecast to reach 3.75% in the September quarter of 2022, the lowest since 1974, with the Government signalling rising wages as the ticket out of inflatio...

Financial planning

ACSI responds to Senate blocking proxy advice reform

ACSI is pleased to see the Senate block reforms to proxy advice saying the system had already been working well to deliver quality advice that supports investors and mill...

Financial planning

Wholesale investors should be excluded from CSLR

Extending the Compensation Scheme of Last Resort to wholesale investors could open up ‘gaming’ of the system by those who could afford court costs, according to the Stock...

Financial planning

FASEA officially wound up

The cost to sit the financial adviser exam will be higher than initial estimates as it moves to being run by the corporate regulator and any Standard 3 amendment responsi...

Superannuation

$450 super threshold removed

The Government has introduced a bill that aims to improve equity in the superannuation system, allow a larger amount of super to be removed for a first home deposit, and ...

Financial planning

FASEA standards don’t adequately recognise previous study

There needs to be a better recognition of previous study undertaken by financial planners, and in particular continuing professional development studies, according to the...

Policy & Regulation

Budget points to fewer staff within ASIC

While the other regulators grew their staff numbers, the Budget papers point to a net loss for ASIC. ...

Financial planning

Treasury urged to investigate AFCA ‘coaching’

Financial advisers distrust the Australian Financial Complaints Authority because it is perceived to have ‘coached’ complainants and Treasury is being urged to investigat...

Financial planning

Treasury to assume control of LIF review

Senator Jane Hume announced the FSC Life Insurance Summit that Treasury will assume control, merging it with the quality of advice review....

Financial planning

FASEA left way open for further code adjustments

The Financial Adviser Standards and Ethics Authority has signaled to a Parliamentary Committee that further adjustments to the adviser code of ethics was possible beyond ...

Financial planning

FASEA not the final battle

Although the removal of the Financial Adviser Standards and Ethics Authority is a huge victory for many in the industry who spent the last few years fighting for reform, ...

Financial planning

How the industry united to rid itself of FASEA

Mike Taylor writes that few people genuinely argued with the objectives set out for the Financial Adviser Standards and Ethics Authority but they did argue with the autho...