Legislation

The Financial Planning Association (FPA) has outlined its policy platform, or target areas for the next Federal Government.

ASIC’s recent crackdown on “finfluencers” spruiking online financial advice through social media channels without proper licensin, has been welcomed by the Financial Planning Association of Australia (FPA). ASIC says “unlicensed finfluencers could face five years’ jail time or fines of more than $1 million if they talk about stocks, investment funds or financial products.” The…

ASIC says Regtech could be a great solution after it effectively banned finfluencers from giving unlicensed financial advice with hefty prison time and financial penalties. The corporate regulator has cracked-down on finfluencers spruiking online financial rubbish through social media and stepped up its warnings. ASIC says “unlicensed finfluencers could face five years’ jail time or…

Both houses of Parliament quietly passed what may well be the biggest changes to super contribution rules in a decade. With the Treasury Laws Amendment Bill just only awaiting Royal Assent, 2022 will see retirees and soon to be retirees provided with significantly greater flexibility in putting additional cash into superannuation. The most important and…

The Stockbrokers and Financial Advisers Association (SAFAA) is changing its name to the Stockbrokers and Investment Advisers Association (SIAA). The subtle change of replacing ‘Financial’ with ‘Investment’ Advisers is believed to better reflect the new SIAA’s broader purpose and its place in the industry. The old word, “financial,” was inaccurate and slightly misleading, according to…

The Australian Securities and Investments Commission (ASIC) has cast a spotlight on the managed funds industry by commencing surveillance into the marketing of managed funds. The corporate watchdog is looking to catch-out fund managers using misleading performance data and risk representations in their promotional material, whether it be traditional or digital marketing. ASIC Deputy Chair…

The financial services industry has not been immune from the socialisation and digitisation trend, with finfluencers now among the most powerful voices in the sector. The idea of a finfluencer is simple, springing from the “Instagram influencer” title that many younger people have sought to achieve, but simply with a financial twist. Spurred by the…

The Financial Services Council, which represents more than 100 member companies and is the peak body for the corporate financial services sector this week delivered what they believe are the priorities for the next Parliament: whether that be the Coalition or Labor. After delivering one of the more powerful reports in recent years, they are…

The Compensation Scheme of Last Resort, or CSLR, has become something of a lightning rod for the finance industry in 2022; and yet we are less than a month into the year. While almost every impacted party agrees on the importance of the new scheme, few can agree on who should pay for it, and…

Uncertainty has returned to the market after a bumper 2020, fuelled by persistent inflation and a pandemic that never really went away. But in its latest alternatives outlook, JPMorgan warns that investors “aren’t seeing the forest for the trees.” “Up close, the ‘trees’ in the 2022 outlook are clear,” writes Anton Pil, global head of…

Morningstar has released its “top-performing global equity fund managers in 2021” report. This year, the funds that performed the best contained a well-disciplined approach to investing, together with an experienced team capable of producing high-performance numbers. The research report found that the top three global fund managers also had outstanding longer-term performance numbers. What this…

On Wednesday, Dixon Advisory & Superannuation Services, the division of ASX-listed E&P Financial Group (ASX:EP1) that was focused on delivering financial advice to high-net-worth clients for several decades, filed for voluntary administration. This marks the beginning of the end for what initially appeared to be an Australian success story.  According to the ASX announcement, administrators…