Regulation
Regulatory reform, but not as you know it
The ALRC’s financial regulation review won’t follow the normal template, lawyers say, as the focus will be more on structure than policy. This may mean a swing back towards more prescriptive regulation for advisers, but don’t hold your breath for a quick result.
Tahn SharpeSeptember 22, 2020
Regulation
ASIC tells fundies to be ‘true to label’
ASIC has cracked the whip on misleading fund managers after surveying 37 funds with a total of $21 billion under management. Being true-to-label is a "must have", not a "nice to have", said deputy chair Karen Chester.
Tahn SharpeSeptember 22, 2020
Licensees
‘Vanilla’ AFSL prices surge as advisers disperse
Empty AFSL’s with no client books have gone from having virtually no value to being sold for an average of $70,000, with ex-institutional advisers clamouring for an independent ticket yet reluctant to wait on ASIC to approve a new license.
Tahn SharpeSeptember 21, 2020