News

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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Accounting, Regulation

Time to review licensing necessity

The head of an industry body has recommended accountants review their service propositions to determine if operating under a licence and complying with FASEA are necessary.

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Accounting

RC recommendations to boost trust in advice

The SMSF Association has welcomed the banking royal commission’s report, saying it has laid the groundwork to improve trust and professionalism in the financial advice sector.

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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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Investments, Regulation

Royal commission has not affected sector view

The royal commission’s findings have not swayed the investment views of an international manager regarding Australia’s bank and finance sector.

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ATO, Superannuation

Members find super worth over $860m

Super members found and merged over 105,000 super accounts worth more than $860 million last year.

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