ALRC takes aim at ‘porridge’ of financial advice legislation
The Australian Law Reform Commission notes the length of Chapter 7 of the Corporations Act is similar in length to the novel Ulysses by James Joyce. After handing in the final report of the multi-year project, it has acknowledged what every adviser has said for years: the current laws they operate under are a mess.
January 18, 2024
Choice names CEO
Consumer advocacy group Choice has appointed Ashley de Silva as its CEO, the successor to Alan Kirkland who left the role last November.
January 18, 2024
Financial Advice NZ appoints former AFA general manager as CEO
Financial Advice New Zealand has appointed former AFA general manager and NZ national Nick Hakes as CEO.
January 18, 2024
Growth funds return 9.9 pc in CY23: Chant West
The median growth super fund (defined as 61 to 80 per cent in growth assets) has returned 9.9 per cent in calendar year 2023, according to researcher Chant West.
January 18, 2024
Exam changes welcomed, but cost should be cut: Associations
Adviser exam changes have industry backing, but industry associations used government consultation to raise concerns about cost blow-outs that have occurred since the corporate regulator commenced facilitation of the exam.
January 17, 2024
Almost 6k advisers still need to complete new ASIC registration obligation: FAAA
Nearly 6000 financial advisers are yet to be registered under a separate obligation with ASIC, putting them at risk of no longer being able to provide advice, the Financial Advice Association has warned.
January 17, 2024
NGS Super selects Grow Inc as administrator
The $14 billion NGS Super has appointed startup Grow Inc as its new administrator, switching from Mercer following a review.
January 17, 2024
AIA Australia donates $60k to local sports organisations
AIA Australia has donated a total of $60,000 to three grassroots tennis clubs and three local surf schools in New South Wales and Victoria to support their sports programs.
January 17, 2024
Zenith nabs CFS talent as group head of product
Zenith Investment Partners has appointed Matt Warren to the newly created role of group head of product, reporting to managing director Jason Huddy.
January 17, 2024
‘Fragmentation’ of advice a challenge for ASIC, ex-commissioner says
Monitoring and regulating small licensees and their advisers is one of the issues that kept former ASIC commissioner Danielle Press up at night. In her first interview since leaving the regulator, Press says the perception the ASIC left smaller licensees unsupervised in favour of watching the top end of town is inaccurate, but the regulator always had to make tough choices where to allocate its finite resources.
January 16, 2024
