levy

Financial planning

ASIC confirms finalised industry funding levy

ASIC has announced its finalised industry funding levy, detailing how much licensees will have to pay for the 2023-24 financial year and how it compares to original estim...

Financial planning

‘Much too high’: FAAA advocates further ASIC levy reduction

While ASIC’s estimated FY24 levy only saw a slight $60 rise per adviser compared to the previous year, FAAA’s Sarah Abood believes it is still too high for a shrinking in...

Financial planning

Will Dixon costs impact the 2023–24 ASIC funding levy?

With the indicative ASIC levy expected soon, the FAAA has queried whether the cost of action against Dixon Advisory will impact the 2023–24 figures. ...

Financial planning

Advice CSLR second levy estimate could spiral to almost $40m

The second CSLR levy period payable by financial advisers could increase to as much as $39.4 million if AFCA processes all DASS complaints by March 2025....

Financial planning

Call for licensee levy increase to address cost asymmetry

A Western Australian financial adviser has launched a petition and called for Financial Services Minister Stephen Jones to increase the portion of the ASIC levy paid by l...

Financial planning

How big is the first CSLR levy?

The estimated sum for the initial Compensation Scheme of Last Resort levy has been calculated, with the regime expected to start receiving claims in April....

Financial planning

The profession's fear of future ‘black swan’ event impacting CSLR funding

Advisers “live in fear of the next black swan event”, according to FAAA general manager Phil Anderson, as they anticipate the start of the Compensation Scheme of Last Res...

Financial planning

How much will advisers pay in the 2022–23 levy?

ASIC has released the indicative levy for advisers in 2022–23 in its latest cost recovery implementation statement....

Financial planning

Treasury details proposed APRA and ASIC levy figures

Treasury has issued a consultation paper detailing the proposed levy figures for APRA and ASIC in 2023-24....

Financial planning

Advisers should be subject to ‘good advice duty’: Levy

Financial advisers could be required to comply with a ‘good advice duty' if the Albanese Government accepts the fourth recommendation of the Quality of Advice Review....

Financial planning

Levy warns on poor advice quality

Despite changes enforced by the Hayne Royal Commission, the current prescriptive model has detrimentally affected the quality of advice provided to consumers, according t...

Financial planning

Will the QOA recommendations reset digital advice?

As the financial advice industry awaits the Government’s response to the Quality of Advice Review, Ignition Advice is hoping for a proper reset of the rules around digita...

Financial planning

Digital tools to offer pathway to simple advice: Levy

Michelle Levy is expecting to see a rise in digital tools as she believes it is unnecessary for all advice to be provided to consumers by a financial adviser....

Financial planning

‘Law is the wrong way round’: Levy

Michelle Levy has determined “the law is the wrong way round” ahead of the publication of the Quality of Advice Review next month....

Policy & Regulation

How much will advisers pay in 2021/22 levy?

The Australian Securities and Investments Commission has released its latest cost recovery implementation statement for 2021/22, providing an estimated levy for financial...