As Australia's population ages, there is a greater need for superannuation funds to address the needs of the retired and retiring population. According to APRA's Annual Fund Bulletin, in June 2020, excluding SMSFs, 10% of account holders were aged 65 ... Read more

The Australian Financial Complaints Authority (AFCA) has received its first report card since commencing operations in November 2018. Read more

From an advice perspective, how long can you rely on a Statement of Advice (SOA) to support your ongoing advice? To put it another way, how old and dated must an SOA be before you will stop using Records of Advice (ROAs) to streamline your advice pr ... Read more

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 fee disclosure statements (FDSs) and ongoing fee ... Read more

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 Securities and Investments Commission's (ASIC's) ... Read more

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. Read more

The responsible manager (RM) of a licensee plays a key role under the financial services and credit licensing regimes. Read more

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 attached to Consultation Paper 340 Breach reporting ... Read more

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. Read more

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 Standards and Ethics Authority (FASEA), increasing ... Read more