government and regulation

Financial planning

A decision by the Government to withdraw an amendment to the director penalty regime from its recent tax laws amendment means the initiative to target phoenix directors m...

Policy & Regulation

PIS warns PJC on dangers of FOFA tranches

Professional Investment Services (PIS) warns that Shorten's approach of introducing FOFA in tranches has inherent dangers....

Funds management

Hedge funds remain a strong investment option - Zenith

Eleven managed funds have been given a 'recommended' rating in Zenith Investment Partners 2011 Multi Strategy and Fund of Hedge Funds Sector Review....

Policy & Regulation

Finance broker jailed for tax fraud

The Sydney District Court has sentenced finance broker and unregistered tax agent Angelos Giourtalis to nine years in gaol for 57 counts of tax fraud....

Superannuation

SISFA welcomes continuation of drawdown relief

The Small Independent Superannuation Funds Association (SISFA) says it is pleased with the Government's recent decision to continue drawdown relief for self-funded retire...

Policy & Regulation

Standard form disclaimers not enough for FOFA

A new legal analysis of the FOFA reforms suggests financial advisers will have to go further than simple disclaimers in seeking to provide limited advice....

Financial planning

Annuities market tipped to reach $2 billion by end of year

The Australian annuities market is tipped to reach $2 billion by the end of the 2011 calendar year, making it the biggest-selling year for annuities since 2004, according...

Policy & Regulation

Cormann calls for FOFA delay

The Federal Opposition has called on the Government to delay the implementation of its FOFA legislation....

Policy & Regulation

Banks to carry BOLR can as FOFA drives out financial planners

Buyer of Last Resort arrangements entered into decades ago are returning to haunt some of the major financial services institutions as growing numbers of older financial ...

Superannuation

SISFA questions pause in cap superannuation indexing

Small Independent Superannuation Funds Association (SISFA) has questioned the Government's recent decision to pause indexation of the superannuation concessional contribu...

Financial planning

Potential for ASIC investigation of responsible entities

Industry executives have raised the prospect of the Australian Securities and Investment Commission (ASIC) investigating whether responsible entity companies (REs) will b...

Financial planning

ASIC concerns prompt Westpac advertising changes

Following concerns raised by the Australian Securities and Investments Commission (ASIC), Westpac Banking Corporation will undertake a review of its marketing of geared i...

Editorial

When is it time to file for bankruptcy?

Troy Smith outlines what bankruptcy is, when it should be filed for and what income and assets would be available to creditors....

Editorial

The cost of playing by FOFA's rules

The second tranche of the Government's Future of Financial Advice legislation has laid out the remuneration and best interests ground rules for financial planners but, as...

Editorial

Financial planners end 2011 as they began it - uncertain

Australian financial planners seem destined to end 2011 in much the same fashion they ended 2010 - uncertain about the fine detail of the regulatory regime that will unde...