521-530 of 944 results
Recent decision on FoFA advice provisions - ASIC v NSG
The recent case of ASIC v NSG Services Pty Ltd considers the FoFA best interests and appropriate advice provisions, as well as obligations of licensees. While the facts of the case provide an extreme example of how advisers and licensees can fail to comply with these duties, it also provides some us ...
CIPRs - some interesting findings
We recently hosted some workshops in Sydney and Melbourne to discuss the proposed CIPR framework The outcomes of those workshops were interesting - in some respects surprising - and this article provides a brief report ...
ASIC's report on financial advice
ASIC has recently released a report about its work with the big four banks and AMP on adviser misconduct The report is essentially an update on the progress of ASICs Wealth Management Project and mostly contains information we already know The most interesting part deals with the results of ASICs ...
Consumer protection in the banking, insurance and financial sector
The Senate Economics References Committee is conducting an inquiry into the regulatory framework for the protection of consumers in the banking insurance and financial services sector ...
Mandatory margining
Late last year APRA released the implementation schedule for its long-awaited Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives ...
Improving external dispute resolution schemes - rather odd recommendations
It is difficult to describe the interim recommendations of the Expert Panel reviewing the financial system external dispute resolution and complaints framework as anything other than odd ...
Retail banking remuneration review
The Australian Bankers Association last year commissioned Stephen Sedgwick to undertake a review of remuneration in retail banking ...
Product design and distribution rules
On 13 December 2016 Treasury released a paper seeking feedback on the proposed financial product design and distribution obligations and proposed product intervention powers for ASIC The proposals are intended to create new accountability obligations for product issuers and distributors On one view ...
Life insurance, conflicted remuneration and commissions
The Bill to amend the conflicted remuneration provisions in the Corporations Act for life insurance has been introduced into Parliament a second time and draft regulations have been released for comment However we struggle to know how to describe them because the changes seem to have conflicting ...
Practical pitfalls and the sacrosanct limitation of liability clause
Commercial trusts could not operate without limitation of liability clauses however getting a limitation of liability clause just right is very challenging ...