90% of FPA, AFA members have renewed with FAAA since merger
Of the 8,946 practitioner advisers who belonged to either industry group before their April merger, 8,093 have renewed their membership with the merged entity....
Advice review outcome a boon for consumers, not just advisers: SMSF Association
A principled approach to advice regulation is clearly the way forward for advisers, Neil Sparks says. But what's missing in the discussion is how beneficial...
Regulators skewer super funds for slow progress on retirement income covenant
A joint review conducted by ASIC and APRA was scathing of funds' collective attempts to meet their new legal obligation to help fund members plan for...
'Unconscionable conduct': AMP lambasted in first round of BOLR battle
The judge was satisfied that Equity suffered "loss and damage" as a result of AMPFP's breach of contract, while the language used for the licensee's treatment...
Review into ASIC funding model recommends levy discount cut and... another review
While finding that more research is needed to determine if the "definitions, metrics and formulas" used to calculate levies remain...
SOAs, safe harbour steps gone as government takes staged approach to advice reform
Financial services minister Stephen Jones has accepted 14 of Michelle Levy's 22 recommendations to increase advice access, with super funds set to play an...
FSC, product providers bemoan lack of support from ASIC on innovation
On what was set up as a discussion around the proposals put forward by the Quality of Advice Review, the topic repeatedly shifted to the frustration providers...
Sophisticated investor test draws scrutiny in financial services inquiry
The test allows investors who can certify that they earn $250,000 a year or have more than $2.5 million in net assets to access higher-risk securities normally...
AFCA's scope within super grows as Treasury tweaks complaints body's mandate
The proposal seeks to preserve this definition of what a superannuation complaint is, but "clarifies the policy intent that other types of...
Divisive experience pathway proposal plan 'upset' FAAA members: Abood
"There's so much pain, so much division on this one," FAAA CEO Sarah Abood said of the proposed exemption. "It actually really upsets me, as I know it upsets...
'Experienced' and 'Relevant' provider tags will only confuse consumers: FAAA
Consumers will be bamboozled by the government's plan to divide advisers into "experienced" and "relevant" camps, the association explained. That, and the need...