ASIC is reviewing whether sales commissions paid by fund managers to brokers or financial advisers to sell funds compromise the best interests of investors.
January 14, 2020The bill to end the payment of grandfathered conflicted remuneration to financial advisers has now passed in the Senate, after passed in the House of Representatives last month.
October 19, 2019The Association of Financial Advisers says thousands of clients will be worse off without grandfathered commissions, and that financial advisers need more time to adjust.
September 17, 2019Under draft legislation released by the government, mortgage brokers that fail to act in the best interests of consumers will face fines of up to A$1.05mn.
August 27, 2019ASIC will investigate the steps licensed entities are taking to end grandfathered conflicted remuneration for financial advisers and whether the benefits are passed on to clients.
August 22, 2019Draft bill to end unfair terms in insurance contracts released on Tuesday; bill to end grandfathering of conflicted remuneration to being introduced Thursday.
July 31, 2019