News

Investments, Technology

Social media stock strategies may breach law

social media stock

ASIC has warned market manipulation tactics on social media platforms to coordinate ‘pump and dump’ activity in listed stocks can be considered illegal trading activity.

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ATO

All valuation factors hard to assess

asset valuation

A fair and reasonable asset valuation, as required by the ATO, may be difficult to prove to the extent required in new guidance.

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Financial Planning

Communicating value of advice now critical

financial advice value

The experience in overseas markets like the UK shows communicating the value of advice will be key to the pursuit of success for practitioners.

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Retirement

Retirement covenant an advice opportunity

retirement covenant advice

The Retirement Income Covenant will create further opportunities for financial advisers who can map out the income needs of clients beyond the accumulation phase and well into their retirement years.

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ATO

Annual return enforcement upped

SMSF annual return enforcement

SMSF trustees who are failing to meet their legal obligation of lodging their fund’s annual return are to face new ATO enforcement procedures.

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Financial Planning, Regulation

Government committed to red tape reduction

financial advice red tape

Reducing the amount of red tape hampering the provision of cost-effective financial advice will be a major focus of the quality of advice review.

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Financial Planning

Specialist oversight ignores FOFA reforms

specialist advisers FOFA

Not recognising specialist advisers ignores the intended outcomes of the FOFA reforms and shows the poor decision-making of FASEA.

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ASIC, Financial Planning

ASIC outlines plans to assist advisers

ASIC assist advisers

The chair of ASIC has reaffirmed the regulator’s focus on reducing red tape related to financial advice and outlined some new initiatives to assist practitioners.

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ATO

First return compliance alarming

SMSF annual return ATO

The failure of trustees to lodge their SMSF’s first annual return is continuing to be a problematic compliance area for the ATO.

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Pensions

Pension commutation details still lacking

Pension commutation

The absence of details regarding the commutation of market-linked pensions 10 months after changes were announced is creating uncertainty for retirees.

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