FOFA

Policy & Regulation

Australian regulatory protection ‘inferior’

Australia has developed a regulatory protection regime for investors which is inferior, according to Paul Resnik. ...

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...

Policy & Regulation

Disallow FOFA regulatory changes says ISA

Industry Super Australia has called on the Senate to disallow the Government’s FOFA regulatory changes claiming they will see a return to the bad old days....

Policy & Regulation

First FOFA deadline here

Financial advisers have been reminded the first-round deadline for the Future of Financial Advice (FOFA) reforms has arrived, which means fee disclosure statements should...

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...

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

Bushby issues dissenting report

Government Senator, David Bushby, has issued a dissenting report arguing a royal commission is unnecessary...

Policy & Regulation

'Can you trust ISA on FOFA?’: AFA

Questions are being asked about Industry Super Australia’s integrity after its 'Compare the Pair’ advertising campaign was labelled as potentially misleading by ASIC....

Policy & Regulation

Cormann points to industry funds vested interest

Minister for Finance, Senator Mathias Cormann, claims industry funds had a vested commercial interest in resisting the Government’s FOFA changes....

Policy & Regulation

Time to end the scare-mongering says FSC

The FSC says the Government’s FOFA changes announcement means its time to end the scare-mongering. ...

Policy & Regulation

Cormann’s FOFA reforms plan gets mixed reaction

Industry lobbyists are giving the Federal Government’s decision to plough ahead with the implementation of some elements of the Future of Financial Advice reforms a mixed...

Financial planning

Grandfathering still hindering quality advice

The grandfathering problems that plagued the advice space a year ago continue to stymy advisers and remain heavy burden on consumer choice, the Association of Financial A...

Policy & Regulation

Govt’s FOFA changes tighten up on conflicted rem

The planning industry has welcomed the Government’s FOFA changes most of which will be imposed via regulation but which include a tougher approach to conflicted remunerat...

Policy & Regulation

Cormann moves to impose FOFA changes

The Federal Government has moved to impose much of its FOFA changes by almost immediate regulation but with significant tightening around conflicted remuneration....

Financial planning

Conflicted remuneration should be defined in law

SPAA claims that explanatory statements to FOFA amendments will be ineffective and best interest duty and conflicted remuneration should be defined within legislation....