Rice Warner clarifies cost of opt-in calculation

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Rice Warner has submitted a letter to Minister Bill Shorten, Minister Financial Services & Superannuation, to clarify the analysis of its costs of ‘opt-in’ and to emphasise they are not onerous... Read more continue reading

Opt-in, collective super fees, and the ministry of double standards

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The call by the Federal Government and the Industry Super Network (ISN) for a collective fee to be paid by super fund members to give them access to personal financial... Read more continue reading

SPAA mostly pleased with FoFA revisions

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SPAA welcomes a number of positive revisions to the Future of Financial Advice reforms but waits for critical decisions on accountants’ exemption and intra fund & scaled advice. The Self... Read more continue reading

AFA: FoFA fails consumers

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The Government’s first tranche of draft legislation of the Future of Financial Advice (FoFA) reforms, released for public consultation this morning, fails Australian consumers and is clearly biased towards some... Read more continue reading

FPA vindicates key role in negotiating FoFA reforms

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The Financial Planning Association (FPA) welcomes further clarity on the Future of Financial Advice (FoFA) reforms released today, but continues to reject the Opt-In in proposal as a cumbersome and... Read more continue reading

FoFA draft legislation in full

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The Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, today released the first tranche of draft legislation of the Future of Financial Advice (FOFA) reforms for public... Read more continue reading

Government announces easier way to change banks

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Leading online savings bank and account portability advocate RaboDirect has welcomed reforms announced today that will make it easier for Australians to change banks. The reforms are a result of... Read more continue reading

ASIC Consultation paper missing Best Interest Test says FPA

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The Financial Planning Association (FPA) says the Scalable Advice Consultation Paper released today by ASIC is a good start to the process of providing guidance for financial planners and the... Read more continue reading

ASIC releases proposal to improve unlisted property scheme disclosure

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ASIC has released a consultation paper outlining proposals to improve disclosure for retail investors considering investing in unlisted property schemes. The proposals follow an ASIC review of disclosure documents issued by... Read more continue reading

ASIC: corporate insolvencies on the rise

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Official figures released by ASIC today reveal corporate insolvencies have risen 4.4% in the 2010-11 financial year to date. ASIC’s Senior Executive Leader of the Insolvency Practitioners team, Adrian Brown,... Read more continue reading