AMP to pay $5.175 million penalty for failing to prevent insurance churn by its financial planners

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The Federal Court has ordered AMP to pay a $5.175 million penalty after the court found AMP failed to take reasonable steps to ensure its financial planners complied with the... Read more continue reading

FPA partners with Deakin University

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The Financial Planning Association of Australia (FPA) has announced a ground-breaking partnership with Deakin Business School, which will allow financial planners to combine a Master of Financial Planning degree with... Read more continue reading

ASIC encourages fair and effective insurance claims handling for people affected by the bushfires

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ASIC is committed to helping Australians affected by the devastating bushfires to rebuild their lives. ASIC Deputy Chair Daniel Crennan QC said that ‘ASIC is working with insurers and other... Read more continue reading

ASIC updates responsible lending guidance

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ASIC has published updated guidance on the responsible lending obligations that are contained in the National Consumer Credit Protection Act 2019 (the National Credit Act). Following an extensive consultation, ASIC has... Read more continue reading

ASIC reports on compliance with financial advice fee disclosure obligations

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A new report about fee disclosure obligations released by ASIC has found that consumers receiving financial advice could be at risk of receiving wrong information about advice fees, or in... Read more continue reading

Are you regulator ready?

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The Australian Securities and Investments Commission (ASIC) recently shared its strategic priorities for next year – and at the top are high deterrence enforcement actions. ASIC has already announced plans... Read more continue reading

ASIC releases updated RG 97 on fees and cost disclosure

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ASIC has released updated guidance on fees and cost disclosure for issuers of superannuation and managed investment products. The updated version of Regulatory Guide 97 Disclosing Fees and Costs in PDSs and... Read more continue reading

ASIC fee relief for bushfire-affected customers

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ASIC is offering assistance for customers, including small businesses, who are affected by the current bushfires in New South Wales and Queensland by providing relief from various company-related fees that... Read more continue reading

ASIC outlines approach to advice licensee obligations for the financial adviser code of ethics

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As announced on 14 November 2019, ASIC has taken action to provide certainty to Australian financial services (AFS) licensees that they will not be in breach of the law because... Read more continue reading

The race is on to find $20.8 billion in super

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New Australian Taxation Office (ATO) data shows that there is over $20.8 billion in lost and unclaimed super across Australia. Today we published the amount of lost and unclaimed super by... Read more continue reading