Brought to you by:

Life Insurance

ASIC hands adviser three-year ban

15 October 2018

The Australian Securities and Investments Commission has imposed a three-year ban on financial adviser Gurumukh Singh Mehra for failing to act in clients’ best interests…

FPA names new Chairman

15 October 2018

The Financial Planning Association has appointed Marisa Broome as Chairman, taking over from Neil Kendall, who has served on the board for eight years…

ASIC releases reporting dates instrument

15 October 2018

The Australian Securities and Investments Commission has introduced a legislative instrument related to professional standards reforms for financial advisers…

MetLife secures Tasplan contract

15 October 2018

MetLife has won a tender to provide group life insurance to Tasmanian industry superannuation fund Tasplan’s 145,000 members…

Life firms fire back after Hayne hammering

08 October 2018

AMP, TAL and other life insurers have taken issue with potential misconduct findings identified by the counsel assisting the Hayne royal at the end of the round six hearings…

Hayne must spell end for cold calls: Choice

08 October 2018

Choice CEO Alan Kirkland has called on the financial services and life insurance sector to end outbound sales calls following revelations at the Hayne royal commission…

ASIC wins appeal over fine with no conviction

08 October 2018

The Australian Securities and Investments Commission and the Director of Public Prosecutions have won an appeal against the sentence of former senior financial planner Ricky David Gillespie…

Zurich adopts UnderWriteMe

08 October 2018

Zurich has adopted UndewrWriteMe’s underwriting rules engine as part of a major overhaul of the insurer’s adviser-facing portal. It is the fourth company to adopt the engine this year…

S&P predicts bleak year for life insurers

01 October 2018

Life risk premium growth and earnings will be subdued over the next year as super insurance opt-in and poor income product performance damages the life risk sector, says a new S&P Global ratings report…

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…

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…

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…

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…