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Life/Risk
The number of PI insurance providers is likely to grow but planners have been warned that not every service they provide will be covered....
Financial planning
ASIC deputy chairman, Peter Kell, says the regulator will be taking a clsoe look at professional indemnity insurance in coming months....
Editorial
Heidi Nash-Smith and Jack Geng explore the controversy surrounding the Financial Ombudsman Service and how ASIC can redress the power imbalance....
Life/Risk
The corporate regulator is not seeking any changes to PI insurance requirements for advisers stating that ‘tinkering’ would not deal with problems related to claims or di...
Financial planning
Industry infighting has damaged the reputation of financial advice and made it appear the financial services sector is blame shifting instead of placing consumer interest...
Financial planning
The FPA has appointed Dr June Smith as Chair of its Conduct Review Commission (CRC), the body which monitors the conduct of FPA members. ...
Financial planning
There has been a decline in the number of disputes handled by the Financial Ombudsman Service (FOS) relating to financial services providers, the industry umpire’s annual...
Financial planning
Lawyers call for limit to FOS’ monetary jurisdiction which exceeds that of many courts....
Financial planning
Financial services providers may not be able to rely on proposed changes to proportionate liability laws in spreading the costs of damages in disputes, particularly where...
Editorial
With a third of FOS determinations going unpaid the efficacy of Professional Indemnity insurance as a compensation mechanism is under question and, as Mike Taylor reports...
Life/Risk
Col Fullagar explores the seldom-mentioned stressors associated with the claims process and their potential fallout....
Editorial
The concerns expressed by FOS on the renaming of “general advice” overlook the importance of creating a clear separation between advice and product sales....
Financial planning
ASIC has cancelled the AFSL of Global Derivative Services after it failed to comply with licence obligations...
Financial planning
A proposal to rename general advice as “sales” or “product information” is not an adequate solution to the problems that arise from conflicted remuneration, according to ...
Financial planning
The Boutique Planners argue that resolving advice disputes should be the province of planner professional associations....
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Podcast
So we are now underwriting criminal scams?...
Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...
Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...