News

FASEA adds new education providers

February 5, 2020

FASEA has updated its list of approved education providers, adding in new bachelor and postgraduate programs and updating the list of approved courses for advisers.

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Regulation

AFCA backs compensation scheme

February 5, 2020

Darin Tyson-Chan

The establishment of a compensation scheme of last resort to protect consumers who have fallen victim to the misconduct of financial services firms has received strong support from the Australian Financial Complaints Authority.

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Financial Planning

Advice group unveils self-licensed support

February 5, 2020

Tharshini Ashokan

Lifespan Financial Planning has launched a support service for self-licensed financial advisers that will draw on in-house and external partner expertise.

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Retirement, Superannuation

No negative retirement changes

February 4, 2020

Jason Spits

Any changes to the superannuation and retirement saving system should lead to no negative consequences for consumers, according to SISFA.

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ASIC

ASIC permanently bans Sydney SMSF adviser

February 4, 2020

Tharshini Ashokan

ASIC has permanently banned a Sydney-based SMSF adviser after she was found guilty of misappropriating money from clients’ funds.

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Compliance, Regulation

System fine without active member test

February 4, 2020

Tharshini Ashokan

The active member test for overseas SMSF trustees would become irrelevant if the current approach to rollovers and personal contributions was improved, an SMSF expert says.

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Retirement

Retirement facts before fixes

February 3, 2020

Jason Spits

Information collected by the Retirement Income Review should not be used to shore up current problems but improve the system for the long-term, claims SISFA

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Education

Partnership delivers new CPD courses

February 3, 2020

Darin Tyson-Chan

Western Sydney University School of Business and online education provider OpenLearning have combined forces to produce a new suite of continuing professional development courses for the financial services sector.

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Financial Planning, Regulation

Recommendations will alter fee arrangements

February 3, 2020

Jason Spits

The next round of Hayne royal commission recommendations to be implemented may alter the frequency with which advisers get approval for their fee arrangements.

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ATO

TBC indexation not for 2020

February 3, 2020

Tharshini Ashokan

The ATO has announced indexation of the general TBC will not go ahead in July and also reminded trustees investing in property of their GST obligations.

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