Compliance

Compliance

IOOF: Most file breaches came from old regime

Only 4 of the 19 Bridges and RI Advice files identified by ASIC as being “potentially detrimental to clients” came after IOOF ascribed 100 per cent of its advisers to ASIC’s 515 standard, the wealth group says.

Tahn SharpeApril 27, 2021

Compliance

Into the light: Tech enabled accountants take the next step in client relationships

Automating tasks and employing cognitive thinking over mechanical data input has opened up a whole new relationship opportunity for accountants and their financial advice partners to give clients advice at critical times.

Jessica SierApril 23, 2021

Compliance

FSC punts safe harbour steps in third ‘simple vs complex’ advice pitch

The council’s green paper follows the original Rice Warner report it sponsored and subsequent poll review, and includes major tweaks to its original ‘simple vs complex’ plan headlined by the abandonment of SoAs and safe harbour rules.

Tahn SharpeApril 19, 2021

Compliance

Advice on the cusp of a new RoA era

The regulator has signalled its intention to expand the RoA regime with several key developments this week aimed at reducing the role of statements of advice in the advice compliance spectrum.

Tahn SharpeApril 16, 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

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

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

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