Andrew Leigh

Features

InFocus: Common ownership: genuine risk or partisan wedge issue?

Although seemingly having good intentions for the public, Chris Dastoor writes, political battle lines have taken priority in the common ownership inquiry....

Financial planning

Don’t shut first-time investors out of advice: SAFAA

First-time investors currently sourcing information from social media should not be shut out of receiving financial advice in the future as a result of public policy. ...

Policy & Regulation

ASIC chair probed on governance review of regulator

The corporate regulator’s new chair, Joe Longo, believes that reading the publicly available report of the regulator’s governance practices is sufficient and has not aske...

Financial planning

APRA points to mandate as reason for YFYS pass/fail result

The prudential regulator has been questioned on whether its superannuation Your Future, Your Super test pass/fail result was enough to help funds improve. ...

Financial planning

Labor backs two-year review for Better Advice

The opposition has backed the recommended two-year review of the bill as it can’t be “set and forget” and the Government’s management of standards reform has been a “trai...

Life/Risk

ClearView decides not to repay JobKeeper

The life insurer’s board has assessed that it will “not be appropriate” to repay JobKeeper funds after its 2020 calendar year net profit declined $4.6 million from the pr...

Financial planning

Existing clients the missing voice in advice regulation

Existing clients should be asked whether they see value in financial advice reforms and whether they are happy to be paying more for those protections, the Association of...

Financial planning

Industry challenged by falling advisers but growing demand

There will be a problem in the next five years as falling adviser numbers coincide with more households seeking advice, according to Easton Investments. ...

Financial planning

No one yet prosecuted for calling themselves 'financial adviser'

The Australian Securities and Investments Commission has prosecuted many people for operating without an Australian Financial Services License but it appears no one has b...

Life/Risk

APRA corrects ALP on benefits of group over advised TPD

A Federal Opposition frontbencher has been warned against misinterpreting Australian Prudential Regulation Authority data to suggest that group TPD insurance delivers bet...

Financial planning

AMP claims adviser class action precludes answering BOLR questions

A Parliamentary Committee will have to settle for court filings to find out more about AMP’s BOLR arrangements after the company cited the AMP financial adviser class act...

Policy & Regulation

AMP facing ‘between 5 and 50’ ASIC legal/regulatory issues

The Australian Securities and Investments Commission has confirmed that AMP Limited is facing multiple legal/regulatory issues – citing between “5 and 50”....

Superannuation

APRA indeterminant on who pays for early release fraud

Superannuation funds may not necessarily be held responsible for making good the losses caused by fraud around the Government’s hardship superannuation early release regi...

Life/Risk

TPD ADL regime up for change

Amid suggestions by the Australian Financial Complaints Authority that the Activities of Daily Living regime is “very tough”, the major insurers have flagged key changes ...

Superannuation

ASIC confirms sub-$200K SMSFs generate negative returns

The average self-managed superannuation fund with a balance less than $200,000 generated negative returns over three successive financial years, according to the Australi...