News
Independent Australian coverage of financial advice news — regulatory moves, business updates and adviser-relevant industry stories.
ASIC's digital asset relief now has a licence test
For licensees and practices that may be involved in providing digital asset-related financial products or services, the ASIC notice leaves a scope question to resolve.
ASIC's growth mandate carries an impact question, with consumer and market integrity protections intact
ASIC's opening statement to the Parliamentary Joint Committee on Corporations and Financial Services explains what the Government's new Statement of Expectations asks the regulator to consider.
The trustee becomes the gatekeeper: what legislated advice fee caps mean for practices that charge from super
Super trustees will be legally obliged to cap the advice fees they deduct from member accounts. A third party now sets the ceiling on what practices can charge, and will build the controls to enforce it.
A $50,000 sale, 1,400 complaints and a going concern note: the Sequoia case is the profession's live test
Sequoia has disclosed material uncertainty over its ability to continue as a going concern and intends to revive the $50,000 sale of InterPrac. This is where the question of who pays for large-scale advice failure gets answered in practice.
The prudential fence: why Mulino revived the new class of adviser, and then locked most of the industry out
The new class of adviser is back, confined for at least three years to APRA-regulated super funds and life insurers. Advice licensees and banks are locked out, and the three-year review clause is the part nobody is examining.
Payday super's first two months done, but the June quarter tail carries a contributions cap sting
Eight weeks in, the seven-business-day regime is holding, but deferred June quarter contributions can tip higher-income clients over the $32,500 cap, and the government's promised legislative fix is not yet law.
Adviser exam's 34th cycle sat as qualified-but-absent pool grows
The 34th adviser exam was held on 20 August, results due September. June's cycle drew fewer candidates and passes, 6,220 exam passers sit outside the register, and the exam survives the coming education reforms.