News

NALI/NALE

NALE challenges accepted practices

NALE SMSF

All relationships with SMSF service providers considered conventional in the past may now come under scrutiny due to the LCR 2021/2 NALE rules.

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Superannuation

Attorney appointments should not be delayed

EPOA appointment

An enduring power of attorney could be invalid if there is a significant time difference between the proposed start date for the role and the date of its acceptance.

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Financial Planning, Tax

Tax adviser shift will create more complexity

tax financial advisers

Plans to streamline the registration of advisers who provide tax advice remain unclear and should be put aside so other key changes can occur.

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AFCA, Appointments

AFCA promotes seven to streamline complaints

AFCA promotions

The Australian Financial Complaints Authority has appointed seven staff to senior roles to make its decision-making more consistent and timely.

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ATO

Contravention triggers identified

SMSF contravention

The regulator has shared with practitioners the three most significant factors that lead to SMSF regulatory contraventions.

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Business News

SMSFA returns to in-person national conference

SMSFA conference

The SMSF Association (SMSFA) has announced its first face-to-face conference since 2020 as coronavirus restrictions begin to ease across the country.

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FASEA, Regulation

Bill creating disciplinary body passes

Better Advice Bill

Legislation that will formally end the work of FASEA and create a government-run disciplinary body has passed through parliament.

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Investments

Pinnacle backs in OpenInvest

OpenInvest Pinnacle

Fund manager Pinnacle Investment Management has become a cornerstone investor in fintech specialist OpenInvest as part of a capital-raising exercise.

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FASEA

FASEA pass rate continues to drop

FASEA exam advisers

The number of advisers sitting and passing the most recent FASEA exam has declined again, continuing a trend seen across the year.

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Appointments

Loane to depart FSC

FSC chief executive

After seven years with the Financial Services Council (FSC), chief executive Sally Loane has announced her departure at the end of the year.

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