pi | Money Management

PI

People & Products

CIFAA appeals to members with PI reduction

New member organisation, the Certified Independent Financial Advisers Association, has announced an arrangement to reduce professional indemnity costs for members....

Policy & Regulation

CSLR levy needs to be sustainable for small business: CA ANZ

Declining incomes from the COVID-19 pandemic and ever-rising regulatory costs have crippled small to medium advice businesses, and product issuers should be carrying more...

Editorial

ASIC acknowledges a problem with PI, Treasury should act

It is high time for the Government to recognise that professional indemnity insurance is a problem that cannot go unaddressed as it moves towards a compensation scheme of...

Financial planning

Should wholesale advice clients be treated differently under PI?

Wholesale clients should have the financial capability and knowledge necessary to rely on professional indemnity insurance rather than accessing the proposed new compensa...

Financial planning

Will individual adviser registration change who pays for PI?

A major dealer group chair has pointed to advisers rather than licensees becoming responsible for professional indemnity cover....

Financial planning

FPA’s plan receives Hume nod if it delivers a profession

If the Financial Planning Association can prove its proposals for individual adviser registration will hasten the development of a profession and the separation of advice...

Policy & Regulation

PI ‘not worth the paper it’s written on’

The Federal Treasury has received yet more warnings that before it embarks on a compensation scheme of last resort it should fix professional indemnity insurance in circu...

Financial planning

FSC canvasses capital requirements for advice licensees

The Financial Services Council has canvassed the imposition of capital requirements on advice licensees as part of any compensation scheme of last resort at the same time...

Financial planning

AFSL applicants need to act fast on PI cover

With the Royal Commission resulting in a tougher insurance market, organisations looking to get professional indemnity cover should act quickly to ensure they’re not left...

Financial planning

FPA issues PI warning on legacy AFCA complaints

The Financial Planning Association has warned the Australian Financial Complaints Authority of significant consequences if professional indemnity insurance cover does not...