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Jones grilled by Queensland advisers on QAR and skyrocketing advice levy

The minister was peppered with questions about phases 1 and 2 of the the government's advice review response, as well as specialist accreditation and data...

'Unconscionable conduct': AMP lambasted in first round of BOLR battle

The judge was satisfied that Equity suffered "loss and damage" as a result of AMPFP's breach of contract, while the language used for the licensee's treatment...

Review into ASIC funding model recommends levy discount cut and... another review

While finding that more research is needed to determine if the "definitions, metrics and formulas" used to calculate levies remain...

Experienced adviser pathway... is it a free pass?

The advisers taking advantage of the government's decision to provide a free pass on education would do well to remember that future governments might not be...

Up to $1,250 per adviser: FAAA flags 'onerous' scheme of last resort costs

The controversial, long-delayed scheme doesn't protect consumers from high profile managed investment scheme failures like Sterling and Timbercorp, FAAA CEO...

SOAs, safe harbour steps gone as government takes staged approach to advice reform

Financial services minister Stephen Jones has accepted 14 of Michelle Levy's 22 recommendations to increase advice access, with super funds set to play an...

FSC, product providers bemoan lack of support from ASIC on innovation

On what was set up as a discussion around the proposals put forward by the Quality of Advice Review, the topic repeatedly shifted to the frustration providers...

Sophisticated investor test draws scrutiny in financial services inquiry

The test allows investors who can certify that they earn $250,000 a year or have more than $2.5 million in net assets to access higher-risk securities normally...

'Some poor operators out there': ASIC urged to scrutinise multi-strategy SMAs

Multi-strategy separately managed accounts (SMAs) are "taking off like you wouldn't believe", according to SQM Research CEO Louis Christopher, but the rapid...

AFCA's scope within super grows as Treasury tweaks complaints body's mandate

The proposal seeks to preserve this definition of what a superannuation complaint is, but "clarifies the policy intent that other types of...

AMP firms fined $24 million for charging dead clients' super accounts

Four AMP Group businesses deducted insurance premiums and advice fees from superannuation customers despite knowing they had died, a judge ruled, with two of...