ASIC issues advisers’ ethics compliance guide
01 October 2018
The Australian Securities and Investments Commission has released a guide setting out its approach to the approval and oversight of compliance schemes for financial advisers…
Life Insurance
New minister Robert to address AFA conference
01 October 2018
Assistant Treasurer Stuart Robert, who took over the financial services portfolio last month, will address the Association of Financial Advisers conference on Friday next week…
ALUCA conference open for registrations
01 October 2018
The Australasian Life Underwriting and Claims Association is still accepting applications for next week’s conference in Hobart…
FSC says life code update will be tougher
24 September 2018
Financial Services Council CEO Sally Loane says the next version of the life insurance code of practice will take a stronger stance on poor sales practices highlighted at the Hayne royal commission…
Lump sum sales skid to five-year low
24 September 2018
Individual risk lump sum new business sales fell 6.8% to a five-year low of $1.27 billion in the last financial year, research house Dexx&r says…
Appeals tribunal clears WA adviser of misconduct
24 September 2018
The Administrative Appeals Tribunal has cleared WA adviser Robert Hutchison of financial misconduct and set aside a lifetime ban barring him from the industry…
ASIC bans ex-Macquarie advisers
24 September 2018
Dishonest conduct has resulted in two former Macquarie financial advisers being banned from providing financial services for 10 years…
Events will push for more female planners
24 September 2018
The Financial Planning Association is supporting an expanded series of networking events that aim to encourage the advancement of women in the profession…
Queensland fraudster gets lifetime ASIC ban
24 September 2018
A Queensland man with a history of fraud convictions has been permanently banned from the financial services sector…
Advisers now listed as witnesses for federal statutory declarations
24 September 2018
Financial planners have been granted authority to witness a Commonwealth statutory declaration, following a decade-long lobbying effort by the Financial Planning Association…
AMP charged dead clients life premiums
17 September 2018
AMP continued to charge clients who had died for life insurance premiums despite having been informed of their deaths, the Hayne royal commission into financial misconduct heard today…
Freedom cuts phone sales after royal commission flak
17 September 2018
Freedom Insurance Group, under fire at the Hayne royal commission for its sales tactics, has dumped direct telephone calling for several products and appointed Deloitte to conduct a review of its strategy and operations…
AMP slowest to decide life claims
17 September 2018
AMP was the slowest insurer to resolve life claims last financial year, but also had the lowest rejection rate, data provided by 10 insurers to the royal commission shows…
TAL breaches standards, CommInsure medical definitions fail
17 September 2018
TAL breached professional standards and its actions fell below community expectations when it tried to halt income protection policy payments for a nurse who was suffering depression and anxiety, the Hayne royal commission heard last week…
ASIC starts civil action against Dover, McMaster
17 September 2018
The Australian Securities and Investments Commission has taken Dover Financial Advisers and its former director Terry McMaster to court…
FPA releases FASEA consultation papers
17 September 2018
The Financial Planning Association has released the seven submissions it has made to the Financial Adviser Standards and Ethics Authority during the year…
PPS Mutual appoints state manager
17 September 2018
Specialist life insurer PPS Mutual has appointed Richard Hopwood to the new role of State Manager Queensland…
ASIC condemns shortcomings in super insurance
10 September 2018
Insurance in superannuation complaints handling is often too slow, while some trustees have automatically defaulted members as smokers, the Australian Securities and Investments Commission has found in a review…
Suncorp formalises life business sale
10 September 2018
Suncorp has signed the share sale deed to pass its Australian life insurance business to TAL Dai-ichi Life for $725 million…
ASIC bans adviser
10 September 2018
The Australian Securities and Investments Commission has banned James Phillip Allen from providing financial advice for three years, after he failed to act in clients’ best interests…