Compliance

Compliance

‘It’s just too hard to stay in the insurance advice business’

As the planner exodus continues, Professional Planner talks to Jeremy Wright, a 59-year old insurance adviser set to abandon his ASIC registration on January 1, 2021. “This is like a bloody communist state,” he says.

Tahn SharpeJanuary 22, 2021

Compliance

Hume rallies the adviser troops on ASIC consultation

ASIC's consultation on advice access has the potential to be a "transformational undertaking", the newly promoted minister tells Professional Planner. The key, she reckons, will be getting advisers to tell their stories.

Tahn SharpeJanuary 15, 2021

Compliance

Lookback requests don’t mix regulatory standards: ASIC

The regulator denied using current regulatory standards for advice lookback reviews that involved older cases with different benchmarks. This comes as ASIC mulls abandoning the 7-year review period altogether.

Tahn SharpeJanuary 12, 2021

Compliance

Licensees stifling practice acquisitions over compliance concerns

Advice firms looking to build scale are being told to involve their licensees early when acquiring businesses, as tighter compliance benchmarks make it harder to get deals across the line.

Tahn SharpeOctober 19, 2020

Compliance

Structural rethink needed for advice industry

Advice regulation isn't particularly well-designed, but with some holistic thinking and a tweaked mandate for the Single Disciplinary Body the industry can reshape into something that is fit for purpose. Conrad Travers and Selin Ertac write for Professional Planner.

Conrad Travers and Selin ErtacSeptember 7, 2020

Compliance

ASIC fine with extra advice fee compliance doc

The regulator has confirmed it is aware super funds are sending letters out to licensees asking them to confirm that every member has received the advice they paid for before the fund will release the fees. But ASIC’s blessing came with a warning.

Tahn SharpeAugust 19, 2020

Compliance

ASIC disconnected from compliance reality, advisers say

The regulator’s promise to reduce compliance costs doesn’t gel with their hard line on ‘lookback’ requests, advisers say. Fear still runs rife in the industry and is stifling efforts to reduce the cost to serve.

Tahn SharpeJuly 23, 2020

Compliance

Inside the quick descent of MyPlanner

After building up a growing base of advisers, the MyPlanner dealer group rapidly imploded amidst compliance concerns, leadership changes and ASIC orders.

Tahn SharpeJuly 6, 2020

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