Articles by Jason Spits

Business News

NAB CEO and chairman to depart

NAB will seek replacements for its chief executive and chairman, who have announced their pending departures.

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Administration, Documentation, Pensions

Advisers urged not to skimp on pension documents

A leading service provider has recommended SMSF advisers opt for full pension documents, even if it may cost clients more, to prevent confusion and breaches of PI insurance.

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Investments

Bond firm penalised for misleading statements

Concerns about statements related to investment performance have prompted ASIC to fine a bond trading company.

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Education, Regulation

FASEA tweaks questions in finalised adviser exam

Changes to questions relating to tax and the length of reading time are the only adjustments made by FASEA in its finalised adviser Examination Standard.

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ASIC, Regulation

RC calls for individual rego, new disciplinary body

Advisers should be individually registered and subject to a new, powerful, single disciplinary body, according to the banking royal commission.

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Regulation

Govt to create compensation scheme of last resort

The federal government will create a compensation scheme of last resort after the banking royal commission added its support to the Ramsay review’s call for its creation.

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ASIC, Financial Planning

SMSF adviser pleads guilty to $4.88 million theft

A former Adelaide-based SMSF adviser has pleaded guilty to multiple counts of theft totalling more than $4.8 million.

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ASIC, Financial Planning

ASIC halts ongoing fees at CBA advice firm

ASIC has ordered Commonwealth Financial Planning to stop charging advice service fees after it failed to resolve some issues related to fees for no service.

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Compliance

Ethical practices more than just good behaviour

Ethical practices in financial services will need to come from an inherent culture and not a set of arbitrary standards according to leading ethicist.

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Superannuation

Emergence of SMSF Party raises questions

The formation of an SMSF-centric party has raised concerns about moving super into politics.

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