DBFO due ‘shortly’ but no specifics beyond that
The next tranche of Delivering Better Financial Outcomes legislation is due “shortly”, but Minister for Financial Services Daniel Mulino is unable to provide a timeframe, softening from earlier indications it would be released by the end of the year.
October 17, 2025
Should the FSC represent self-licensed businesses?
Nearly half the industry now operates under self-held AFSLs, which offers independence from an institutional collective, but lacks a centralised voice. Sean Graham writes the Financial Services Council’s licensing green paper might present ideas not necessarily in the best interests of self-licensed practices but there’s still an opportunity to be part of the process rather than just criticising it.
October 17, 2025
Mulino urges industry-led solutions to Shield, First Guardian saga
The government will give industry and regulators some space to deal with the fallout of the Shield and First Guardian collapse, but Minister for Financial Services Daniel Mulino believes some policy change will be needed. Meanwhile, the minister is also awaiting on Treasury to present findings of the Compensation Scheme of Last Resort review.
October 16, 2025
Avoid over-zealous regulatory response to Shield, First Guardian: HUB24
HUB24 says any response by regulators to the collapse of the Shield and First Guardian managed investment schemes must avoid undermining the ability of the platform industry to deliver choice and high-quality investment solutions to investors.
October 16, 2025
Supporting vulnerable clients through pro bono advice
Stephanie Patrick has been helping people navigate their finances for over 13 years, driven by the desire to make a difference. In a recent case referred by the Pro Bono Financial Advice Network, Patrick worked with a woman who had multiple sclerosis, was undergoing a divorce, had several children and was recovering from a previous cancer diagnosis, showing the crucial role pro bono advice can play.
October 15, 2025
‘Seeing the same things again’: Fok’s déjà vu from Shield, First Guardian
As industry fund Cbus has spent the greater part of 2025 rebuilding its image after going through multiple internal scandals, CEO Kristian Fok believes the collapse of the Shield and First Guardian master funds brings back bad memories of the Hayne royal commission and the high-pressure sales tactics that were a feature of its hearings.
October 14, 2025
Equity Trustees channels Trio scandal in approach to Shield remediation
In compensating victims of the collapsed Shield Master Fund, Equity Trustees is hoping to rely on an obscure legal mechanism that saw victims of the Trio Capital fraud remediated by the government, which then recouped its costs via a superannuation levy. Along with its previously stated intent to help members pursue claims through the CSLR, it shows a preference from the trustee to push for external parties to help with compensation.
October 13, 2025
Labor retreats on Div 296 reform, rejects suggestions of policy misstep
The Labor government has backed down from several controversial features of the high-balance superannuation tax it introduced two years ago, cancelling the plan to tax unrealised gains and introducing indexation to the $3 million threshold. The adjustments, which will delay the start date of the new tax regime by a year, were slammed as “publicly humiliating” by the Coalition.
October 13, 2025
