Regulation

Advisers have ‘no appetite’ for digital advice: ASIC

Feedback from the regulator’s consultation into affordable advice reveals advisers are keen on regtech but have little interest in digital advice because it costs too much and consumers aren't interested.

Tahn SharpeApril 14, 2021

Compliance

More RoAs, less ‘turgid’ guides: ASIC reveals advice consultation takeaways

An expanded RoA regime is one of many actions ASIC is considering after trawling through almost 500 submissions to its landmark consultation paper on access to affordable advice. Another – the need to fix its own “turgid” guidance documents.

Tahn SharpeApril 13, 2021

Regulation

ASIC bans binary options for retail clients

The corporate regulator has banned the distribution of binary options to retail clients after it found that 80 per cent lost money over separate studies in 2017 and 2019.

Tahn SharpeApril 6, 2021

Compliance

FSC brings in pollsters to look at ‘simple vs complex’ advice plan

After teaming up with Rice Warner to propose ‘simple’ and ‘complex’ personal advice last October, the FSC has brought in an external research team to find out if the idea would resonate with consumers.

Tahn SharpeMarch 30, 2021

Compliance

Bodies unite over standardised advice fee consent forms

If funds write their own trustee consent forms it will be a costly mess for advisers and consumers, which is why representative groups are pushing for providers to join them at the table to standardise a template for the new compliance requirement.

Tahn SharpeMarch 29, 2021

Regulation

‘I have a contribution to make’: ASIC’s Shipton

ALP Senator Andrew Leigh said he could understand why it was in the ASIC chair's interests to come back to the top job and enhance "public perception" that he had cleared his name, but was it in the regulator's interests?

Tahn SharpeMarch 29, 2021

Compliance

ASIC trims double handling with amended fee consent rules

The corporate regulator made several important changes to its fee consent and independence disclosure legislation, released today, in response to 22 industry submissions.

Tahn SharpeMarch 25, 2021

Regulation

‘Mechanical’ industry funding model to blame for high levy: ASIC

Royal commission enforcement and declining adviser numbers have contributed to the increased levy, ASIC's top brass explained, but it is the rigid nature of the industry funding model that stops them from being able to alleviate the pressure.

Tahn SharpeMarch 25, 2021

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Regulation

Regulation

Advisers have ‘no appetite’ for digital advice: ASIC

Compliance

More RoAs, less ‘turgid’ guides: ASIC reveals advice consultation takeaways

Regulation

ASIC bans binary options for retail clients

Compliance

FSC brings in pollsters to look at ‘simple vs complex’ advice plan

Regulation

‘I have a contribution to make’: ASIC’s Shipton

Regulation

‘Mechanical’ industry funding model to blame for high levy: ASIC

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