commonwealth financial planning

COMMONWEALTH FINANCIAL PLANNING

Editorial

Separation needed between product sales and advice

As scathing as the Senate Committee’s report into ASIC’s handling of the Commonwealth Financial Planning enforceable undertaking may have been, the answer does not lie in...

Financial planning

Planning - the most heavily scrutinised sector

The further Senate Commmittee process initiated by the Federal Opposition will simply be another in a long list starting in 2009....

Policy & Regulation

Labor tipped to move for new Senate inquiry

Reports suggest the Labor Opposition will move to establish another Senate Committee inquiry into financial planning....

Policy & Regulation

AIOFP urges disclosure regime on advice ownership

AIOFP has called on the Federal Government to reintroduce an ownership disclosure regime and for the equal prosecution of executives who have overseen poor advice....

Financial planning

FPA condemned over CommFP response

The Financial Planning Association’s (FPA) response to the Commonwealth Bank financial planning fallout has elicited a scathing retort from the Association of Independent...

Policy & Regulation

National summit urged to resolve planning issues

The FPA has urged the calling of a national summit to resolve the issues raised in the 61 recommendations of the Senate Committee report....

Financial planning

CBA planners counter FPA criticisms

A number of CBA planners have declared their anger at comments made by the FPA chairman, Matthew Rowe....

Financial planning

ASIC reminds CBA on its breach obligations

ASIC has acknowledged the CBA’s new compensation and review processes by reminding the banking group of its ongoing breach reporting obligations....

Editorial

Lightning strikes twice

The financial planning industry suffered substantial collateral damage as a result of the collapse of Storm Financial but, as Mike Taylor reports, last week’s Senate Comm...

Financial planning

Commbank offers independent review panel process

Commbank repeats apology and outlines independent review process for impacted customers. ...

Financial planning

Cormann confirms telling Commbank to sort it out

The Minister for Finance and Acting Assistant Treasruer, Senator Mathias Cormann, has confirmed meeting with Commonwealth Bank chief, Ian Narev, and impressing on the ban...

Financial planning

Commbank promises detailed response

Commonwealth Bank chief executive, Ian Narev has promised a detailed response to last week’s scathing Senate Committee report as Financial Services Minsiter, Senator Math...

Financial planning

Royal commission must consider ASIC's resources: Medcraft

ASIC says a royal commission into its handling of Commonwealth Financial Planning (CommFP) scandal would divert resources from other investigations it's currently pursuin...

Policy & Regulation

ISA calls for halt on FOFA reforms

Proposed regulatory reforms of the FOFA legislation should be put on hold following the Senate Economics Committee report on ASIC’s performance, ISA believes....

Financial planning

Government cautious on Senate Committee recommendations

The future of the Seante Committee report into the performance of ASIC resides with the Government which is already signalling a cautious approach....