Transitional licences have expired. All advisers must now hold or operate under a full licence to provide regulated financial advice to retail clients.
March 20, 2023As of end December, the major banks paid or offered to pay almost AUD 4.7 billion (USD 4.2 billion) in compensation to over 1.6 million customers.
March 15, 2023The draft guidance covers any situation where an intermediary is involved in the distribution of a financial institution’s products or services.
February 23, 2023The FMA said the first regulatory returns will be due by 30 September 2024, for the 12-month period ending 30 June.
February 16, 2023The newly released quality of advice review report offers 22 recommendations for regulatory changes to make financial advice more affordable and accessible.
February 10, 2023The guidance focuses on situations where it is difficult or impractical to access information to support reasonable grounds for financial advice on an investment product.
February 7, 2023The Federal Court ruled that ASIC failed to establish that CBA received conflicted remuneration when distributing Colonial First State's superannuation product.
October 3, 2022The Federal Court said the conduct reflected “very poorly on the organisation culture” of AMP, fining its subsidiaries a total A$14.6mn.
September 26, 2022Some in the industry have expressed concerns that the CSLR does not go far enough, as its scope does not cover managed investment schemes.
September 14, 2022The merger would create a single association that would speak for the financial advice profession in a "unified voice" and add clarity and power to the positions it takes.
September 6, 2022