News : Regulation

Regulation, Superannuation

Six-member SMSF legislation dropped

The government has withdrawn the legislation enabling SMSFs to service a maximum of six members.

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Regulation, Strategy

SMSF body endorses six-member fund maximum

The move to increase the maximum number of SMSF members from four to six has met the approval of the peak sector body.

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Regulation, Superannuation

SMSFA rejects sector inquiry call

Sign reading caution as warning on use of corporate trustee stuctures in SMSFs

The Australian Council of Trade Unions’ call for an inquiry into SMSFs has been labelled totally unwarranted by the sector’s peak body.

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Regulation

Adviser Ratings unveils new rating system

Adviser Ratings has announced a new financial adviser rating system and an external governance committee in response to the banking royal commission.

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Accounting, Education, Financial Planning, Regulation

Accountants to benefit from advice market shake-up

The widespread changes to financial planning should allow accountants to establish their broader advice credentials.

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ASIC, Regulation

Disciplinary body needs teeth

The banking royal commission recommendation to create a new disciplinary body for financial advice is appropriate as long as it is granted strong powers.

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Regulation, Retirement

Govt broadens work test exemption

The federal government will allow people entering into retirement to make up to $300,000 in non-concessional contributions as a result of a change to the work test exemption.

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Compliance, Education, Regulation

FASEA ethics will overrule licensee obligations

Advisers will be required to consider client best interests ahead of licensee obligations when making ethical decisions.

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Regulation, Retirement, Superannuation

Fatigue to blame for lack of super objective

Fatigue ultimately defeated the government and super sector’s efforts to enshrine the objective of super in legislation, an industry group head of policy has said.

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Education, Regulation

FASEA to help advisers map out education pathways

Advisers will be able to ask FASEA to match their past education with the most suitable education pathway under a new service to be launched by the authority.

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