by Adviser Ratings
Developments in the controversial AMP wealth restructure continue apace, with advisers who have been cut from the company’s future plans being told they have till Halloween to accept a “one-off offer” to leave or face less attractive options in the…
by Adviser Ratings
The last month has been a forgettable one for the Financial Services regulators ASIC and APRA after both had their cases shut down by the courts. The litigation first directive signalled by the regulators after the royal commission was supposed to…
by Adviser Ratings
It may have taken more than six months to incubate, but sustained criticism from industry regarding the recommendations of the Royal Commission is putting pressure on the government to reassess its commitment to their full implementation. Sections…
by Adviser Ratings
Though mandated to increase to 12% by 2025, the increase in the Superannuation Guarantee (SG) is being questioned in policy circles and by some government parliamentarians, particularly given the sustained lack of real wages increases in recent…
by Adviser Ratings
This week CPA Australia released a report called ‘The impact of complex regulatory reform’ which criticised the regulatory framework around financial advice as “convoluted” and “excessively layered”. On release of the report, financial advisers…
by Adviser Ratings
NAB has announced a further $1.2 billion in remediation expenses – mostly relating to financial advice in an update this morning that has already seem the banks share price tumble 3%. The additional expense means that NAB’s cumulative provisions for…
by Adviser Ratings
The AFA has continued it criticism of the processes around the formulation of government policy regarding the removal of grandfathered remuneration saying there is a “serious dearth of information available to the industry”.
by Adviser Ratings
On Wednesday, ASIC released a report looking at director and board oversight of “non-financial risk”. After examining the big four banks, AMP, IOOF and Insurance Australia Group, and conducting over 60 interviews with directors and management, it…
by Adviser Ratings
The government recently announced the first major look at Australia's savings system in 30 years. It will examine the interaction between the age pension, compulsory super and voluntary savings. The wide-ranging review would examine "the current…