Insurance Australia Ltd has been penalised $40 million by the Federal Court in the largest-ever penalty imposed against an insurer for breaches of consumer protection law.
As the new financial year kicks off, financial advisers will need to ensure their clients – especially those approaching retirement – are in the right place for their superannuation as multiple changes take effect.
AUSTRAC has concluded its external audit of Bell Financial Group after more than a year and has released its verdict.
E&P Financial Group, parent of Dixon Advisory, has appointed a new chief executive as Peter Anderson steps down.
Going into the end of the financial year, adviser movements remain disappointing with a large loss of 46 advisers for the week, according to Wealth Data.
FAAA chief executive, Sarah Abood, has hit out at the 2022–23 ASIC levy estimate for advisers and called for the temporary freeze to be re-enacted.
ASIC has released the indicative levy for advisers in 2022–23 in its latest cost recovery implementation statement.
A relevant provider that used an inaccurate SOA to induce a client to switch superannuation funds is the subject of the Financial Services and Credit Panel’s latest complaint.
EXCLUSIVE Speaking to Money Management, Melbourne-based OpenInvest chief executive, Andrew Varlamos, believes the firm was in the ‘right place at the right time’ when it came to the uptake of online advice.
The government has made 10 recommendations on ASIC’s industry funding model following a Treasury review and confirmed the temporary levy relief for personal financial advisers will not be extended.
