All posts tagged "financial advisers"
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181Australia & NZNew Zealand Sets Out Disclosure Rules for Financial Advisers
Financial advisers will have to disclose to clients details about fees, the range of products they advise on, conflicts of interest and commissions they may earn.
June 30, 2020 -
252Australia & NZAustralia Allows Advisers More Time to Meet Exam Requirement
Advisers would have had until the end of this year to complete the new Financial Adviser Standards and Ethics Authority exam. A newly-passed bill allows an extra year to do so.
June 18, 2020 -
186Australia & NZFMA Sets Out Full Licence Conditions for NZ Financial Advisers
In a consultation paper, the FMA specifies three distinct classes of financial advice provider licences, to allow applicants to apply for the licence that best suits their circumstances and business structures.
June 18, 2020 -
143Australia & NZAustralian Treasury Bans ‘Conflicted’ Commissions Paid on LICs
Fund managers will be barred from paying fees to financial advisers and stockbrokers for selling listed investment companies and trusts.
May 25, 2020 -
381Australia & NZAdvice Remediation at Six Biggest FIs Reaches A$750m: ASIC
NAB has paid over A$203mn to over 588,000 customers as compensation for non-compliant advice and fees-for-no-service misconduct.
February 12, 2020 -
389Australia & NZBanks Against Penalties Proposed in New Accountability Regime
Australia's new Financial Accountability Regime will subject accountable persons to penalties up to A$1.05mn per breach, or three times the benefit derived or detriment avoided, whichever is higher.
February 7, 2020 -
295Australia & NZ
Australia Drafts Laws on 22 Royal Commission Recommendations
The draft legislation is aimed at enhancing protections for consumers and small businesses, and strengthening the role of ASIC and APRA.
February 3, 2020 -
513Australia & NZ
Australia to Decide on Removal of ‘Conflicted’ Stamping Fees
Fund managers have been paying 'conflicted' up-front commissions to financial advisers and brokers under a 2014 exemption, which ASIC says has resulted in worse investment returns.
January 28, 2020 -
315Australia & NZASIC to Audit Broker Sales of Listed Investment Funds
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, 2020 -
522Australia & NZAustralia Proposes Industry-Funded Compensation Scheme of Last Resort
The scheme will ensure that consumers and small businesses receive a payout in cases where compensation has been awarded but the financial services provider is unable to pay.
December 26, 2019
