Advisers slugged with $2,878 levy as industry gets behind funding model reform
The government now has two internal reports recommending an overhaul of the industry funding model. Yet they appear destined to sit on the shelf "gathering...
Two tweaks to DBFO bill set industry at ease on super in advice rule changes
The government addressed perceived ambiguity around advice fee deduction from member accounts by pulling out two statements from the bill that essentially...
Proposed financial abuse hub to help advisers identify and manage cases
Advisers are uniquely positioned to identify and alleviate financial abuse cases, but they need support and an action framework according to the association.
Confusion reigns as government hedges its bets on advice in super
The government's line on its proposed changes to advice in super is incongruous with the actual changes. You can't re-do the language embedded in the SIS Act...
'It's bittersweet': CSLR head explains the challenge of punishing and promoting advice
Just how thin the line that Berry walks becomes clear when he outlines the two paradoxical objectives of the CSLR. He has to highlight the worst in financial...
Amended QAR draft released without major changes to SOA checking rules for trustees
After the original Delivering Better Financial Outcomes bill was released in March, Treasury this week released an updated version for consultation. With...
Minister turns back on CSLR as AFCA steps in, looks to cut Dixons membership
It's a welcome stopper on the amount advisers will have to fork out, but has no connection to the core issue. The government still fails to recognise the...
Government faces split opinions on wholesale investor test reforms
It's an aspect of financial services regulation that was flawed from the outset and has become all but useless over time. The divergence in opinions on how to...
'Markets are changing': ASIC's gaze turns to private capital providers
Like the Reserve Bank, ASIC is keenly aware that the rise of private markets, and especially private equity, creates both "upside and downside risks" to an...
'Completely unfair': Advisers to be slugged another $4,165 over Dixons CSLR bill
Costs for the compensation scheme are spiralling out of control, with the FAAA estimating another $4,165 will be added to every adviser's CSLR bill –...
Move to micro makes sense, but comes at a cost for advice businesses
There are untold benefits in shifting to a self-licensed advice model, but the move also comes with a host of dangers. Practice owners need to ask themselves...