Articles by Jason Spits

Regulation

Stalled legislation should trump royal commission

The banking royal commission recommendations should not be rushed through Parliament, which still has to deal with stalled legislation, claims the FSC.

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Regulation, Retirement

Franking credit campaign ‘misrepresentations’ addressed

SMSF; review; industry fund

The head of Wilson Asset Management has rejected claims he has formal ties to Liberal MP Tim Wilson, despite both campaigning against the removal of franking credit refunds.

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LRBA, Property

New call for total LRBA ban

A total ban should be placed on all LRBAs due to their high risks, according to a property research house.

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Compliance, Education

FASEA releases final Code of Ethics Standard

The body tasked with overseeing adviser education and professionalism has released the final of seven standards, publishing its finalised code of ethics.

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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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