conflicts of interest

Financial planning

Advisers mistakenly indicating lack of conflicts at licensees

Some 41 per cent of financial advisers say they have no conflicts of interest in their business, according to Holley Nethercote, indicating a fundamental lack of understa...

Policy & Regulation

DDO won’t absolve conflicts of interest

Product issuers and distributors need to be careful with what incentives apply to distributors who sell products to those target customers, according to EY....

Financial planning

Planner group accuses ASIC of outdated view on conflicts of interest

Planner group, the Profession of Independent Financial Advisers wants a clearer banning of asset-based fees and an updating of Australian Securities and Investment Commis...

Policy & Regulation

Industry funds urge publication of firm level complaints data

The number of complaints received about individual firms should be available to financial services customers, according to the Australian Institute of Superannuation Trus...

Policy & Regulation

Banks defend vertical integration

The Australian Banking Association has defended vertical integration and the ability of the major banks to self-regulate when it comes to ‘simplifying’ such structures....

Financial planning

AMP punishes past executives, defends vertical integration

AMP Limited has defended its vertically integrated structure in the face of Royal Commission criticism while confirming it has punished past executives with forfeiture of...

Financial planning

ASIC punishes Solar for licensee oversight

The Australian Securities and Investments Commission has cancelled the licence of a Sydney-based financial advisory firm following surveillance into potential issues of l...

Financial planning

Industry fund planners received conflicted remuneration

Industry funds body, Industry Fund Services has admitted to the Royal Commission that it, too, had to deal with its planners receiving conflicted remuneration including g...

Policy & Regulation

ASIC report shows quality concerns still valid

The Australian Securities and Investments Commission’s recent report into vertically integrated institutions and conflicts of interests shows that consumer and regulator ...

Financial planning

ASIC accepts EU from Financial Index Australia

ASIC has accepted an EU offered by Financial Index Australia after surveillance found various concerns in policies and procedures in its financial advice business....

Funds management

ASIC finds IPO conflicts of interest

The corporate regulator has found a lack of separation between research and corporate advisory activties during IPO processes, and warned firms may be breaching financial...

Financial planning

CommInsure focused on process rather than people — Narev

The Commonwealth Bank has defended its claims handling personnel and denied any misconduct, but chief executive, Ian Narev, has conceded process may have been put ahead o...

Superannuation

APRA details Trio/Astarra lessons

The Australian Prudential Regulation Authority has detailed the lessons learned from the Trio/Astarra collapse while defending the imposition of EUs over court proceeding...

Superannuation

Industry fund trustees “not double dipping”

The ACTU has denied a conflict of interest may exist where unions receive payment from industry super funds when union officials serve on their trustee boards....

Superannuation

Is an independent chair worth $100,000 a year?

The Government’s changes to superannuation fund governance could cost some funds around $100,000 a year for an independent chairman and up to $60,000 a year for independe...