financial services reform

Financial planning

Regulatory grid seeks to reduce firms’ compliance burden

A new Treasury financial services regulatory initiatives grid will work with ASIC to reduce compliance burdens for financial services firms, particularly those which are ...

Accounting

Accountants have dream run but failing licence applications

Accountants moving to become licensed have been given a generous run but are failing in high numbers when applying for a licence according to a former ASIC licensing spec...

Financial planning

Time to rethink licensing for planning and risk

Consumers would be better served if financial planners and risk advisers were required to hold separate licences, Synchron director, Don Trapnell, believes....

Financial planning

Mortgage broking less risky than advice sector

MFAA claims mortgage brokers have not been through any major scandals as a result of lower levels of risk and the application of higher professional standards...

Policy & Regulation

The regulatory pendulum swings too far

Deloitte argues that FOFA taken together with other initiatives suggests the regulatory pendulum has swung too far....

Financial planning

Industry urges inquiry to consider regulatory burden

Government inquiry urged to consider cumulative effect of regulatory change, effectiveness of dispute resolution schemes and introduction of self-regulation....

Editorial

Biggest event of 2013 - Son of Wallis

The Coalition signaled early that one of its first priorities if it won Government at the 2013 Federal Election would be 'Son of Wallis' – essentially an update of the Fi...

Editorial

Is a ‘Son of Wallis’ review of financial services looming?

A close reading of the submissions so far lodged with the Senate Committee investigating the operations of ASIC suggests the newly-elected Abbott Government will be right...

Editorial

Abbott puts experience at the helm of financial services

With the naming of the first Abbott Cabinet, the Australian Financial Services industry has, unusually, found itself dealing with ministers who actually have some experie...

Financial planning

Understanding the difference between wholesale and retail clients under FOFA

The distinction between wholesale and retail clients has been a fundamental part of the financial services laws since the 2004 Financial Services Reform legislation. Howe...

Editorial

Ambition should be made of smarter stuff

As the curtain comes down on the current Parliament, financial services players are left to wonder whether the Government should not have just stuck to the script reflect...

Financial planning

The push to lift planner education standards grinds to a halt

With ASIC delaying its work on a financial planner training framework, progress on raising the bar on education seems to be stuck in limbo, writes Tim Stewart....

Financial planning

Do cheap dealer groups spell bad compliance?

Industry commentators claim low-cost dealer groups could be an accident waiting to happen....

Editorial

Financial services’ top female executives

While the gender balance of the executive ranks and company boards of financial services companies remain decidedly slanted, a growing number of women are breaking new gr...

Editorial

Is FOFA leaving too much to chance?

There are signs a lack of precision in the legislation has left too much to the interpretation of ASIC in translating FOFA into workable regulations....