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

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. Read more

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 need to understand the framework in which RMs exi ... Read more

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 in the over-the-counter (OTC) derivatives ... Read more

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 relationships other than an increase in costs due ... Read more

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

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 numbers were Read more

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 addition, issuers and distributors will need to ... Read more

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. Read more

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 government (government) directions. Read more