compliance

Superannuation

SPAA surprised at SMSF exclusion from training standard

SPAA says absence of SMSF training standards in new RG146 is surprising, given regulator’s concerns....

Policy & Regulation

ATO cracks down on discretionary trusts

Accountants who manage discretionary trusts for clients may be investigated by the Australian Taxation Office (ATO)....

Financial planning

Advisers face cyber privacy risk

Planners and dealer groups warned on potential costs embedded in Privacy Act changes for client data breaches....

Superannuation

Don’t be prescriptive on SMSF warnings, says FSC

Financial planners are already subject to the best interests duty, so any additional requirements with respect to SMSF advice would be redundant, according to the FSC....

Financial planning

ASIC chairman frustrated by slow courts

ASIC chairman Greg Medcraft expresses concern at the time it takes to get matters before the courts....

Funds management

ASIC chair signals change on pursuing compensation

ASIC chairman Greg Medcraft says pursuing compensation similar to Storm might better be left to the “class action industry”....

Funds management

ASIC upgrades MIS custody approach

The fall-out from Trio/Astara and Opes Prime sees ASIC move to upgrade its approach to MIS custody....

Financial planning

FOFA-ready CRM spurs on Infocus growth

Amid the implementation Future of Financial Advice (FOFA) requirements, Infocus chief executive Rod Bristow said a many Infocus offices have seen an increase in new busin...

Financial planning

Narrow-minded approach to compliance costs profession

A ‘discipline and punish’ style approach to compliance from auditors does little to stop licensees from repeating the same shortcuts and mistakes, a financial adviser bel...

Superannuation

Proposed SMSF compensation warning “too simplistic”, says SPAA

Warning self-managed super funds (SMSFs) that they are not entitled to compensation is too “simplistic” and needs to factor in all financial assistance available....