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Showing 31 - 40 of 118 results for "Financial product advice"

ASIC opens CCIV licensing consultation

KARREN VERGARA  |  FRIDAY, 18 MAR 2022
... licensing application process - AFSLs wanting to apply and operate a CCIV and those seeking to provide financial product advice on and/or deal in CCIV securities. It also looks at the administration of licensee obligations that apply to CCIV corporate ...

TAA calls for prudent pace for reforms

KARREN VERGARA  |  TUESDAY, 8 MAR 2022
The Quality of Advice Review should take precedence over other proposed regulatory changes as financial advisers should not be encumbered by two sets of major reforms in a short period of time. This is according to The Advisers Association, which is ...

Government backflips on adviser education

ELIZABETH MCARTHUR  |  FRIDAY, 17 DEC 2021
... ultimately borne by consumers. The review will examine key concepts such as the differences between 'financial product advice', 'general advice' and 'personal advice' - as well as how these terms are used by the industry and how they are interpreted ...

Proposed reforms could simplify advice

KARREN VERGARA  |  FRIDAY, 3 DEC 2021
... wants to "decouple" 'personal advice' from the definition of 'financial service' and eliminate the term 'financial product advice'. In one proposal the ALRC recommends: "Section 766A(1) of the Corporations Act 2001 (Cth) should be amended by removing ...

ASIC eyes employee super fund choice

KARREN VERGARA  |  MONDAY, 18 OCT 2021
... superannuation choices without breaking the law. Employers for example must not communicate in a way that leads to financial product advice about the employees' superannuation arrangement. "Superannuation trustees should not encourage employers to ...

Westpac cops $10.5m fine

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
... and BT Funds Management were found to have breached their best interests duty when providing personal financial product advice in calls made to 14 customers related to switching their superannuation to a Westpac-related superannuation account. Westpac ...

Former Millennium3 representatives cop ban

KARREN VERGARA  |  TUESDAY, 3 AUG 2021
... known as Austbrokers, was an authorised representative of Millennium3 since 5 February 2004, providing financial product advice and dealt in financial products. ASIC banned the Lismore-based duo after an investigation found that they failed to ensure ...

ASIC takes action against Equiti

KARREN VERGARA  |  FRIDAY, 21 MAY 2021
... also had a mortgage broking business Equiti Finance. ASIC alleges that the bonus payments influenced the financial product advice provided or the choice of financial product recommended by Equiti FS advisers to retail clients. ASIC also claims that between ...

ASIC zeroes in on bad SMSF advice, conduct

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... the pandemic," she said. As a result, ASIC established a working group to identify cases of unlicensed financial product advice and take action where appropriate. Since March 2020, ASIC has observed a spike in complaints about such conduct, including ...

High Court dismisses Westpac appeal

JAMIE WILLIAMSON  |  WEDNESDAY, 3 FEB 2021
... decision handed down today, the High Court of Australia dismissed Westpac's appeal, determining the financial product advice Westpac gave to 14 members via two 2014 telephone campaigns related to super switching was personal advice, consistent with ...