All posts tagged "personal advice"
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158Australia & NZAustralia: Industry Bodies Call for Expansion of CSLR
15 organisations call for the compensation scheme of last resort to include product providers, managed investment schemes and the funeral expenses industry.
October 12, 2021 -
196Australia & NZWestpac Subsidiaries Fined for Breaching Best Interests Duty
Westpac Securities Administration and BT Funds Management were fined for failing to act in their clients' best interests in a case that dates back to 2016.
August 26, 2021 -
141Australia & NZAustralia to Further Amend Design & Distribution Obligations Law
The planned changes will make the DDOs law more appropriate for the mortgage broking sector, and clarify that margin lending to corporates is exempt, among other changes.
August 16, 2021 -
192Australia & NZASIC Issues Update on Compensation Paid for Non-compliant Advice
Australia’s 6 largest FIs have paid over A$1.86 billion to compensate customers for fees-for-no-service misconduct and non-compliant advice.
August 6, 2021 -
150Australia & NZ
ASIC Issues Guidance on Ongoing Fee Arrangements
A new information sheet provides guidance on ongoing fee arrangements, fee disclosure statements, and ongoing fee consents.
June 17, 2021 -
187Australia & NZAustralia: Licencing Regime for Debt Management Firms Wins Support
The ABA suggests that ASIC be charged with supervising fee structures of debt management firms to further protect consumers, among other recommendations.
February 17, 2021 -
264Australia & NZ
ASIC Issues Update on Advice Compensation Paid by Banks
Australia's largest financial institutions have paid over A$1.24 billion to compensate customers for fees-for-no-service misconduct and non-compliant advice.
February 17, 2021 -
359Australia & NZ
ASIC Consults on Barriers to Good Quality Affordable Personal Advice
ASIC is looking to better understand the barriers to providing good quality and affordable advice and help the industry provide such advice more broadly.
November 19, 2020 -
784Australia & NZASIC Commences Civil Penalty Proceedings Against FX Firm
Forex Capital Trading and its sole director allegedly used high pressure sales tactics, false or misleading statements, and conflicted remuneration to maximise trading volume and client deposits.
July 22, 2020 -
682Australia & 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
