Code of Conduct

Financial planning

Following member consultation, the Financial Planning Association of Australia has removed 20,000 from its code of conduct and moved to a principles-based Professional Co...

Financial planning

How ASIC spent $31,000 on consumer advice submissions

The Australian Securities and Investments Commission funded $31,000 in consumer submissions about key financial advice policy issues including FoFA and the code of conduc...

Policy & Regulation

ASIC approves banking code variations

The corporate regulator has approved variations to the banking code of practice, including improving the definition of small business....

Financial planning

Tax advisers held to higher standard with client data

Registered tax advisers have higher obligations regarding the protection of client information that other financial planners, with a legal expert putting the difference d...

Financial planning

Industry exclusion faces recalcitrant planners

Financial planners who breach the industry’s new code of conduct will face the ultimate sanction of exclusion from the industry under arrangements outlined in a new Finan...

Life/Risk

FSC looks to extend code to all “distributors”

The Financial Services Council wants to extend its insurance code of conduct to “all life insurance distributors”....

Life/Risk

FSC supports ASIC’s life insurance sales review

The Financial Services Council has welcomed a regulator’s positive review on the role of the FSC Life Insurance Code of Practice in the sale of direct life insurance, whi...

Policy & Regulation

ASIC will get to write its own code of conduct

The Australian Securities and Investments Commission has confirmed that it will get to write its own code of conduct once it becomes separated from the Australian Public ...

Life/Risk

ASIC urges consumer action on insurer breaches

The Australian Securities and Investments Commission has urged giving consumers the right to take legal action against insurers who breach the Financial Services Council’...

Policy & Regulation

ASX200 companies fail in whistle-blower support

The Australian Council of Superannuation Investors has hit out at ASX200 companies, finding that many fail to protect or offer support to whistle-blowers....

Financial planning

FPA suggests naming and shaming

The Financial Planning Association has suggested naming and shaming to ensure compliance with the code of conduct applying to insurance within superannuation....

Financial planning

ASIC defines the power of the code

ASIC has confirmed it will be relying on professional associations to administer planner codes of conduct with the ultimate sanction being a planner’s loss of membership ...

Policy & Regulation

Govt signals ASIC approval for Life Insurance Code of Conduct

The obligations flowing from the FSC’s Life Insurance Code of Conduct may extend beyond its members with the Federal Government signalling it wants the code to carry ASIC...