Compliance

Compliance Articles

SEAN GRAHAM | Comments | FRIDAY, 26 NOV 2021

Advisers and licensees have had a lot of regulatory reform to manage in 2021, so it is no surprise that there is still a measure of confusion and uncertainty around these new arrangements. Queries about ... ... Read more

Get ready for the IDR changes

VARUN BHATIA | Comments | THURSDAY, 30 SEP 2021

With the implementation date of the internal dispute resolution changes imminent, many advisers and licensees will have commenced updating internal complaints procedures to comply with the Australian ... ... Read more

D and D for beginners: Product design and distribution

SEAN GRAHAM | Comments | THURSDAY, 23 SEP 2021

Considering the deluge of regulatory reform bearing down on licensees and advisers, it is not surprising that the product design and distribution obligations have largely been overlooked. That is a mistake ... ... Read more

Liability of a responsible manager

DAVID COURT | Comments | THURSDAY, 2 SEP 2021

The responsible manager (RM) of a licensee plays a key role under the financial services and credit licensing regimes. However, many RMs are concerned as to their responsibilities and liabilities when ... ... Read more

Are you ready for the new breach reporting regime?

JAMES CAMPBELL , ALEXANDRA MCCAUGHAN | Comments | FRIDAY, 27 AUG 2021

In June 2021, consultation closed on the Australian Securities and Investments Commission's (ASIC) draft regulatory guidance [Regulatory Guide 78 Breach reporting by AFS licensees and credit licensees ... ... Read more

Europe's SFDR

JOSEPHINE MAIORANA | Comments | THURSDAY, 19 AUG 2021

The pace of regulatory change here and overseas shows no sign of abating. Europe's new Sustainable Finance Disclosure Regulation (SFDR) is likely to impact the local market. In the first major move ... ... Read more

General advice

SEAN GRAHAM | Comments | THURSDAY, 8 JUL 2021

For a variety of reasons, including client preferences, the 'cost of compliance' and perceptions of value, there is an increasing focus on general advice. For some a sanctuary from the Financial Adviser ... ... Read more

The cost of regulation

KARREN VERGARA | Comments | FRIDAY, 2 JUL 2021

The corporate regulator justified the staggering 160% jump in the adviser levy, from the time it was introduced in 2017-18, as a consequence of advisers abandoning the industry. The levy for the 2019-20 ... ... Read more

I'm a responsible manager, what does this mean?

SAMANTHA HILLS | Comments | WEDNESDAY, 16 JUN 2021

Many responsible managers (RMs) of Australian financial services (AFS) licensees are curious to know what they have to do and whether they are personally exposed. To get a handle on these issues, you ... ... Read more

Course correction: Derivatives trade reporting

CHRIS CHILDS | Comments | FRIDAY, 23 APR 2021

For the past decade, individual jurisdictions have fallen short of achieving the standardisation in trade reporting that would enable regulators to reach the level of transparency and global risk monitoring ... ... Read more

The rise of the annual agreement

SIMON BETCHLEY , JARRAD GRAY | Comments | FRIDAY, 26 FEB 2021

The minute the current fee-disclosure statement (FDS) and opt-in requirements became law, advisers across the country hung their heads in the knowing that this was going to add nothing to their client ... ... Read more

Outsourcing and obligation

ALEXA BOWDITCH | Comments | FRIDAY, 18 SEP 2020

In times like these, can a business be confident that it will continue to comply with its obligations where it has outsourced certain functions? This paper explores strategies that a business can implement ... ... Read more

The impact of complaints

ANGELIQUE AKSENOFF | Comments | FRIDAY, 11 SEP 2020

As at 30 June 2020, the Australian Financial Complaints Authority (AFCA) had received 80,546 complaints, of which 78% were closed, and $258.6 million paid in compensation. Complaint areas and associated ... ... Read more

Actions needed for funds to manage liquidity risks

JON IRELAND | Comments | FRIDAY, 10 JUL 2020

In response to recent market volatility and disruption, investment fund issuers and their boards have been reminded of their governance and conduct obligations in light of emerging liquidity risks. In ... ... Read more

Electronic signing in a pandemic

LUKE PATERSON , ROBERT MACREDIE | Comments | FRIDAY, 19 JUN 2020

The global response to the coronavirus (COVID-19) pandemic has resulted in many ordinary business dealings now being undertaken remotely due to social distancing protocols and border shutdowns. The resulting ... ... Read more

Safe harbour in the era of COVID-19

GAVIN STUART | Comments | FRIDAY, 29 MAY 2020

People who are employees, customers and clients of many small businesses across the country have retreated into their homes for both work and self isolation. Businesses have been the subject of federal ... ... Read more

The state of accountability regimes

LYNDA DOWLING | Comments | FRIDAY, 28 FEB 2020

It may have been over 10 years since the global financial crisis (GFC) unfolded, but the regulatory and political fallout is still driving change for the financial services sector. The UK was at the ... Read more

Debatable ethics

ELIZABETH MCARTHUR | Comments | FRIDAY, 15 NOV 2019

A debate is raging about what the Financial Adviser Standards and Ethics Authority's Code of Ethics means for ESG investing and advising clients on ethical investment options, with FASEA chief executive ... ... Read more

The shades of grey in the managed accounts world

PETER TURBACH | Comments | FRIDAY, 7 JUN 2019

There has been a lot of attention by the law makers and the regulators over the last few years in the advice business. Specifically in the managed accounts world, we have seen an impact from FOFA, the ... ... Read more

Everything you need to know about best interests duty

CLAIRE WIVELL PLATER , SONIA CRUZ | Comments | FRIDAY, 19 OCT 2018

There are four things that you need to do after 1 July 2013 when providing personal advice to retail clients - in addition to the disclosure requirements. The four things include (note: the italicised ... ... Read more

Looking ahead to possible reforms

VINCE BATTAGLIA | Comments | FRIDAY, 20 JUL 2018

Possible law reforms are on the agenda following the conclusion of the second round of hearings of the Financial Services Royal Commission. We identify the trends arising from the Royal Commission and ... ... Read more

Continuing professional development for financial product advisers

PAM MCALISTER | Comments | MONDAY, 1 JAN 2007

One of the policy objectives of the financial services licensing regime is to ensure the competency of the licensee and its representatives to provide the financial services authorised under an Australian ... ... Read more

Do you need PI cover?

JOHN BASSILIOS , HARRY NEW | Comments | MONDAY, 1 JAN 2007

A new regulation has been recently introduced in relation to AFSL holders' compensation requirements under section 912B of the Corporations Act while ASIC has released a consultation paper on how ... ... Read more

ASIC and Westpoint: The mechanics of a collapsing mezzanine

GERARD MAGNER , MELANIE YOUNIS | Comments | TUESDAY, 1 JAN 2008

The collapse of the Westpoint group and the loss of many millions of dollars of investors' funds has been the subject of much publicity. ASIC has recently announced that it will commence legal action ... ... Read more

Latest News


Advice firm rebrands, scores own AFSL KARREN VERGARA The move to self-licensing continues to grow as a Victoria-based advice practice scored its own AFSL after operating under a dealer group for 13 years.	Advice industry loses 800 over New Year period KARREN VERGARA The exit of 807 advisers during the Christmas and New Year break leaves the total population close to dipping below the 18,000 mark.

Most paraplanners will not become financial advisers KARREN VERGARA Despite popular belief, an overwhelming number of paraplanners do not intend to pursue a career as a financial adviser, a new report reveals.	Dramatic growth in non-aligned advisers: Research KARREN VERGARA Financial advisers tilted towards the non-aligned sector at an unprecedented rate during 2021, a new report suggests.

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DAVID RAE
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As social injustices and the errant climate push ethical investing closer to the forefront of client conversations, demand for Federation Financial Services financial adviser David Rae's specialisation and knowledge in this area will be highly sought after. Karren Vergara writes.

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Compliance Articles

Compliance Articles

Latest News

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Get it Weekly

Cover Story

Expert Feed

Lean on me: Rethinking the value of advice

We're in the money: Empowering the next generation through advice

Finfluencers, financial influencers: ASIC is watching your stories

Portfolios hide volcanoes of volatility

Industry Events

Your Opinion

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