insuranceNEWS.com.au https://www.insurancenews.com.au/ General insurance and financial services news from Australia and around the world en-au admin@insurancenews.com.au Copyright 2021 Advisers push for ‘bold’ reforms to cut costs https://www.insurancenews.com.au/life-insurance/advisers-push-for-bold-reforms-to-cut-costs https://www.insurancenews.com.au/life-insurance/advisers-push-for-bold-reforms-to-cut-costs Advisers have called for “bold and fundamental changes” to the legislative and regulatory framework governing the sector, including the classification of advice into either general information or personal advice...

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Mon, 19 Apr 2021 12:35:00 +1000
ASIC signals advice guidance changes on the cards https://www.insurancenews.com.au/life-insurance/asic-signals-advice-guidance-changes-on-the-cards https://www.insurancenews.com.au/life-insurance/asic-signals-advice-guidance-changes-on-the-cards The corporate regulator has flagged possible changes to the way its guidance is “structured and set” for the provision of advice to consumers, following a consultation with advisers, academics and other industry stakeholders...

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Mon, 19 Apr 2021 12:35:00 +1000
Advisers call for ‘further analysis’ of breach reporting regime https://www.insurancenews.com.au/life-insurance/advisers-call-for-further-analysis-of-breach-reporting-regime https://www.insurancenews.com.au/life-insurance/advisers-call-for-further-analysis-of-breach-reporting-regime Financial advisers have “serious concern” with the new breach reporting regime that will be introduced in October, warning the legislation in its present form could lead to increased operating costs that may have to be passed on to consumers...

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Mon, 19 Apr 2021 12:34:00 +1000
Humans still trump bots when it comes to financial planning https://www.insurancenews.com.au/life-insurance/humans-still-trump-bots-when-it-comes-to-financial-planning https://www.insurancenews.com.au/life-insurance/humans-still-trump-bots-when-it-comes-to-financial-planning Industry reservations over machine-generated advice still run deep, with many pointing out humans retain an edge over algorithms when it comes to financial planning, according to submissions received by the corporate regulator...

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Mon, 19 Apr 2021 12:33:00 +1000
FASEA chairman reappointed https://www.insurancenews.com.au/life-insurance/fasea-chairman-reappointed https://www.insurancenews.com.au/life-insurance/fasea-chairman-reappointed Catherine Walter has been reappointed part-time Chairman of the Financial Adviser Standards and Ethics Authority...

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Mon, 19 Apr 2021 12:33:00 +1000
ASIC extends COVID relief measure for advisers https://www.insurancenews.com.au/life-insurance/asic-extends-covid-relief-measure-for-advisers https://www.insurancenews.com.au/life-insurance/asic-extends-covid-relief-measure-for-advisers The Australian Securities and Investments Commission will extend one of three COVID temporary relief measures aimed at helping advisers provide affordable services to consumers during the pandemic...

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Mon, 19 Apr 2021 12:32:00 +1000
FMA gives advice provider breakdown under new regime https://www.insurancenews.com.au/life-insurance/fma-gives-advice-provider-breakdown-under-new-regime https://www.insurancenews.com.au/life-insurance/fma-gives-advice-provider-breakdown-under-new-regime New Zealand’s Financial Markets Authority has provided a breakdown of financial advice providers since new laws governing the sector came into effect last month...

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Mon, 19 Apr 2021 12:31:00 +1000
MLC Life hires senior finance GMs from Integrity, TAL https://www.insurancenews.com.au/life-insurance/mlc-life-hires-senior-finance-gms-from-integrity-tal https://www.insurancenews.com.au/life-insurance/mlc-life-hires-senior-finance-gms-from-integrity-tal MLC Life Insurance has made two senior additions to its finance team in newly-created management roles...

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Mon, 19 Apr 2021 12:25:00 +1000