Advisers and accountants completing SMSF lenders advice certificates may be breaching the law

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Financial advisers and accountants who provide certificates for limited recourse borrowing arrangements may inadvertently provide credit advice in breach of the National Consumer Credit Protection Act 2009 and for which

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A sophisticated client – there’s no such thing

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Advisers sometimes refer to their clients as sophisticated clients, but this term is often misunderstood according to The Fold Legal. Senior Lawyer at The Fold Legal, Lesley Thorne says there

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Privacy law deadline looms

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Advisers have until 12 March 2014 to ensure their privacy compliance measures meet new privacy principles. “The new Australian Privacy Principles require personal information to be handled in an open

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Wholesale client tests too complex for SMSFs

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Six different ‘wholesale client’ tests and three different ‘sophisticated investor’ tests currently apply to financial services clients and deciding whether self-managed superannuation fund (SMSF) trustees are wholesale or retail is

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