What advisers want the new class of advisers to look like
The likely advent of a new class of 'simple' advice providers will reshape the industry ecosystem. According to FAAA members, there are four key issues that...
'Reflect and reconsider': ASIC chair calls for complexity cull
The legislative threads surrounding financial services "look less like an elegant tapestry and more like a painting by Jackson Pollock", the ASIC chair said,...
Jones announces immediate change to 'complex and confusing' CDR framework
Despite its potential and the massive investment behind it, the Consumer Data Right has had little impact due to a host of factors. Frustrated with its low...
FSG exemption back in play after ASIC fixes Treasury's DBFO reform blunder
It came as a relief instrument rather than the expected guidance note, but ASIC's move still managed to give advisers the surety they need to legally use the...
FSG exemption 'almost entirely redundant': Lawyer
For advisers that have already started relying on website disclosure, the unclear legislation "may or may not" be an issue, the Cowell Clarke lawyer explained....
ASIC (and courts) to funds: Practice the ESG you preach and stop virtue signalling
It doesn't matter whether funds mislead investors with intent or not, and it doesn't matter if other parties were partly to blame. The authorities have had...
Is APRA's hybrid war about protecting banks, retail investors... or itself?
It's odd that of the 12 published submissions to APRA's consultation on hybrids, not one advocated getting rid of them altogether. Is the regulator trying to...
ASIC granted new powers over financial market infrastructure entities
The Bill comes after a report from the Council of Financial Regulators warned that the financial system's reliance on financial market infrastructure had...
Dixon's inquiry could be a reckoning for vertically integrated practices in advice
In the Dixon's inquiry vertical integration will not only be writ large, but it will have thousands of victims' names attached to it. The practice has run...
FAAA pulls up ABS on advice occupation classification, proposes new definition
The bureau's financial advice role definition is not up to scratch, the FAAA says, and conflates the role of a financial adviser with an investment adviser. A...
FAAA to consult with Treasury over CSLR 'unintended consequences'
While the minister has remained relatively mute on the obvious issues with the CSLR, he will at least allow the association to discuss the scheme's flaws with...