Regulation

Regulation

ASIC asks advisers: How do we fix scaled advice?

The corporate regulator’s consultation paper on scaled advice provision is an acknowledgement that the current regulatory framework for advice doesn’t work. But it’s also an indication that ASIC is more willing than ever to work with advisers to find a solution.
Regulation

ASIC gets flexible with licensees

The regulator highlighted a number of concessions it made to licensees affected by the pandemic in 2020, and said it "performed strongly" against its service charter despite a higher regulatory workload.
Regulation

Advisers face ESG legal risk as REST case settles

There is an “increasing risk” of actionable claims against advisers who don’t account for financial risk due to ESG factors, according to Mills Oakley lawyer Mark Bland. FASEA’s Standard 6 was a red flag, but the recent case against REST super has solidified the concern for advisers and licensees.
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