Organisations that fail to adapt to rapidly changing community expectations, or that focus on one stakeholder such as shareholders over all others, can’t effectively manage their risk, according to a research paper* prepared for the Actuaries Institute. Andrew Brown, specialist consulting actuary, warns that the cultural failings identified in the Royal Commission into Australia’s finance […]
continue readingWith a May 2019 Federal election creeping closer, the tax changes proposed by Labor in the areas of negative gearing, capital gains tax and dividend imputation are worth a closer look, says Jonathan Philpot, wealth partner with HLB Mann Judd Sydney. “There will be a significant impact, both short term and long term, from these […]
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06
Dec
2018
Financial firms who are members of the Australian Financial Complaints Authority (AFCA) must notify ASIC of their AFCA membership by today, Friday 30 November 2018. Licensees who fail to do so will be in breach of their licence conditions and will face fees for late notification. More than half of AFCA’s 37,000 members are yet […]
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30
Nov
2018
The Australian Securities and Investments Commission (ASIC) is reminding financial advisers, who are currently authorised, to make sure that they are on ASIC’s Financial Advisers Register no later than 31 December 2018, before new professional standards requirements take effect. Professional standards reforms for financial advisers were introduced in March 2017 to raise the education, training and ethical […]
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26
Nov
2018
The Australian Securities and Investments Commission (ASIC) is inviting input on proposed updates to our organisational competence requirements for advice licensees through the release of a consultation paper yesterday. ASIC has proposed updates to Regulatory Guide 105 Licensing: Organisational competence (RG 105) to support the professional standards reforms, which aim to lift the education, training and ethical […]
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09
Nov
2018
You may think you’re not affected by the European Union’s new General Data Protection Regulation because you don’t advise clients in the EU? Think again – especially if you use apps like Mailchimp or DocuSign. Even if you merely monitor your clients’ behaviour when they are travelling in the EU, you’ll need to comply with […]
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07
Nov
2018
New rules likely to soon pass Australia’s parliament will make financial advisers and product issuers directly liable for ensuring financial products are only sold to suitable customers — shifting responsibility from ‘buyer beware’ to ‘seller beware’. “Australians haven’t yet recognised the tremendous significance of these new financial suitability laws, which turn conventional wisdom about who is […]
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01
Nov
2018
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