FSC backs Quality of Advice proposals paper
07 November 2022
The Financial Services Council says the Quality of Advice Review proposals paper’s recommendations set out a “sustainable vision” for the regulation of advice in Australia...
Life Insurance
Life industry swings behind new peak body
07 November 2022
The Council of Australian Life Insurers says it has secured the support of the industry as the new peak body prepares for incoming CEO Christine Cupitt to start in January...
Adviser registration pushed back by six months
07 November 2022
The Government has announced a six-month delay to the requirement for financial advisers to be registered with the Australian Securities and Investments Commission...
ClearView Wealth strategic review draws a blank
07 November 2022
ClearView Wealth has wrapped up a year-long strategic review of its business after failing to receive offers of “appropriate value” that would take the company forward...
FPA announces board appointments
07 November 2022
The Financial Planning Associationsays William Johns has been re-elected as board member and will begin his three-year term when the annual general meeting (AGM) starts on November 22...
New Code includes protections for genetic testing, family violence victims: FSC
31 October 2022
The Financial Services Council says the updated Life Insurance Code of Practice will include provisions to support consumers experiencing family and domestic violence...
Insurance in super dispute: court ruling sets out AFCA jurisdiction
31 October 2022
MetLife has appealed successfully against a court ruling that stated the Australian Financial Complaints Authority has authority to determine a complaint relating to superannuation that falls outside of section 1053 of the Corporations Act...
Proposed last resort compensation scheme should go ahead: Senate report
31 October 2022
A bipartisan Senate committee reviewing proposed legislation for the Compensation Scheme of Last Resort has released its findings, backing the financial redress program despite reservations from some stakeholders and also Coalition Senators on the committee...
Budget response: financial planners back managed investment schemes review
31 October 2022
The Financial Planning Association has backed the Federal Government’s plan to review managed investment schemes...
Budget sets aside $7.2 million for Youpla redress scheme
31 October 2022
The Federal Government has set aside $7.2 million over two years from 2022/23 to establish the Youpla Group Benefits Program, according to Budget papers released last week by Treasurer Jim Chalmers...
Challenger steps up life focus after bank sale
31 October 2022
Investment management firm Challenger is focused on growing its life and funds management arms after disposing of its under-performing banking business...
MLC makes changes to IP products
31 October 2022
MLC Life Insurance announced today a series of changes to its line of retail income protection products that are aimed at improving the quality of coverage...
ASIC finalises advice sector's cost recovery levies at $68 million
24 October 2022
The financial advice sector will pay about $68.234 million in levies as part of its contribution to the Australian Securities and Investments Commission’s regulatory work in the last financial year...
Claims paid ratios decline for individual advised, group super risk products
24 October 2022
Life insurance claims paid ratios for individual advised and group super risk products have been trending downwards since December 2020, according to the Australian Prudential Regulation Authority...
'Not just tinkering': FSC pushes for advice reforms
24 October 2022
The Financial Services Council has called for extensive changes to existing advice regulations to address the life insurance coverage gaps facing Australians...
DII new business improves as key providers record growth
24 October 2022
Disability income insurance new business reached $404 million in the 12 months to June 30, up 1.5% from a year earlier, research house Dexx&r says in a new report...
Austbrokers steps up life advice offerings with Australian Unity partnership
24 October 2022
AUB-owned Austbrokers is aiming to grow its life business after securing a partnership with Australian Unity Personal Financial Services...
FPA finalises awards contenders
24 October 2022
The Financial Planning Association has shortlisted the contenders for its annual awards recognising high standards of professionalism and quality of advice provided to clients...
Adviser pays for 'incorrectly' advising client had life insurance
17 October 2022
The Australian Financial Complaints Authority has ruled a financial planning firm “incorrectly” informed a client who was diagnosed with cancer that he had life insurance through his superannuation fund, causing him to miss out on critical cover...
ASIC bans Queensland adviser
17 October 2022
Queensland-based Totem Wealth Director James Carlos Reynolds has been permanently banned from providing financial services, the Australian Securities and Investments Commission announced...