Credit insurance charges dropped against CBA
Criminal proceedings against the Commonwealth Bank regarding credit insurance have been dismissed due to the underlying criminal charges falling outside the statute of limitations.
December 20, 2022
No more influence: March in review
The corporate regulator stepped up enforcement of finfluencers giving unregulated advice, while professionally regulated advisers finally saw the commencement of the Quality of Advice Review with then relatively unknown Michelle Levy appointed into the role.
December 20, 2022
Live from the greatest city in the world: April in review
After being pushed back a couple of months due to the Covid-19 pandemic, the SMSF Association hosted its marque event in Adelaide.
December 20, 2022
Kyle Brown: Building an advice practice down south
Despite being based in Tasmania, building a strong local reputation has to led to enquiries from potential clients in Melbourne and Sydney seeking out Kyle Brown.
December 19, 2022
Comings and goings: February in review
Advisers who didn’t pass the adviser exam had until the end of January to come off the ASIC Financial Adviser Register, but the industry saw a couple of other high-profile departures.
December 19, 2022
Government to abolish Administrative Appeals Tribunal
The Labor government will replace the Administrative Appeals Tribunal with a new administrative review body after claims it has been stuffed with Liberal staffers appointed with no merit.
December 16, 2022
Bank on it: The big four are keen on a return to advice
Financial services minister Stephen Jones doesn’t believe the banks will get back into advice, but ultimately, the deciding factor will be which of the Quality of Advice Review recommendations the minister progresses.
December 16, 2022
Dawn of a new error: January in review
Amid the deadline for advisers to have passed the adviser exam was the fallout of the announcement of the education carve-out. However, neither of those would be the biggest story of the month after a vertically integrated provider went into administration.
December 16, 2022
FSC updates super fund claims handling guidance
The Financial Services Council has released an enforceable standard for handling group life insurance claims in superannuation which will replace the previously voluntary guidance.
December 16, 2022
ASIC takes civil penalty action against Firstmac for DDO breach
ASIC has commenced civil penalty action in the Federal Court against non-bank mortgage lender Firstmac for alleged breaches of the Design and Distribution Obligations.
December 16, 2022
Mine Super and TWUSUPER explore merger
Industry funds Mine Super and TWUSUPER have entered a preliminary non-binding Memorandum of Understanding to explore the possibility of merging.
December 16, 2022
APRA releases updated heatmap; 6 products marked underperforming
There are six products that have “significantly poor investment returns” over the past eight years in the latest APRA MySuper Heatmap release.
December 16, 2022
