IOOF has named a chair and acting chief, and split its super trustee business from its funds management operations as part of a sweeping action plan drawn up with APRA.

Since news of the multiple APRA actions on Friday, ANZ said it was “assessing its options” in relation to its October 2017 sale of OnePath Pensions and Investments business to IOOF.

Advice firms without a living, breathing plan are at a big disadvantage and what’s worse, this unwillingness to set and track goals could affect their clients.

Product design is not easy but if advisers and funds researchers, as well as issuers, take responsibility for getting it right, everyone benefits.

Licensee heads speaking on a panel in Sydney have questioned the timing and motivation of advisers who are thinking of licensing themselves.

A prominent financial services lawyer has questioned ongoing service agreements and warned that current contracting and remuneration models may be up for change.

The chief executive of the authority said he would remain open to amending its standards summary and appreciated the feedback, despite the “occasionally misinformed poets” in the discussion.

Australia trails many other countries in the journey towards conscious capitalism but events such as the Hayne royal commission will propel it forward, Dr Attracta Lagan predicts.

The FPA’s Ben Marshan said the CFP designation was never about meeting minimum standards but would get a fresh look in light of FASEA’s proposed framework.

The guidelines released Friday, deeming the FPA and AFA’s designations worth only two credits of prior learning, are now the subject of a three-week consultation period.

As the FASEA reveal draws nearer, the intentions of advisers and just which groups in the industry will be affected the most are becoming clear.

An analysis of 10 submissions to FASEA relating to continuing professional development shows a divergence of opinions on minimum standards.