The Australian Financial Complaints Authority has opened a consultation into how it determines compensation for complaints involving financial advisers.
As three directors face multiple criminal charges for their involvement in Sterling Income Trust, four years after it collapsed, Money Management reflects on Sterling’s troubled past.
The corporate regulator has commenced its first proceedings on internal dispute resolution requirements as it takes TelstraSuper to the Federal Court.
Three directors connected to the collapse of managed investment scheme Sterling Income Trust have been charged with multiple criminal charges, four years after its collapse.
Count’s acquisition of Diverger is expected to complete by the end of February 2024, CEO Hugh Humphrey has told Money Management, despite a last-minute rival bid from COG Financial Services.
The number of advisers who have left the industry since the start of the year has reached triple figures, with 11 advisers leaving this week.
ASIC believes there is a “chicken and egg” situation when it comes to product development under the Retirement Income Covenant as super funds and firms are unsure if products will see sufficient uptake.
The government is seeking feedback on Australia’s sustainable finance strategy, which has been structured around the pillars of improved transparency on climate and sustainability, financial system capabilities, and government leadership and engagement.
If all the 1,851 complaints of losses made to AFCA about Dixon Advisory were paid out, it would total $357 million, the organisation said, but it is yet to issue any formal determinations.
An advice association has called for the financial adviser exam to be scrapped, arguing it has served its purpose and is an unnecessary expense.
