Financial Advice

May 2017

FOFA Financial Advice reforms under review – May 2017

Filed under: Economy and Finance, Financial Advice, Politics, Australian Politics,

The federal Treasury is seeking stakeholder submissions on a Consultation Paper prepared as part of a Post Implementation Review (PIR) of five measures enacted as part of the Future of Financial Advice reforms.

December 2016

Government plans new regulatory regime for financial advisers from 2019 – December 2016

Filed under: Economy and Finance, Financial Advice, Financial Services,

Financial Services Minister, Kelly O’Dwyer, has introduced legislation into Parliament to mandate professional standards for financial advisers.

November 2016

Government plans to establish new financial advisers regulator – November 2016

Filed under: Economy and Finance, Banking, Financial Advice,

Minister for Financial Services and Revenue Kelly O’Dwyer has announced new measures that will require the large banks and AMP to fund the establishment of an independent body to oversee the professional standing of the financial services industry.

December 2015

FOFA legislation passed – December 2015

Filed under: Australian Politics, Senate, Financial Advice,

The Senate has passed the Government’s latest legislation on the regulation of financial advisers with Labor support.

September 2015

Charities regulator warns over errors in financial reports – September 2015

Filed under: Australian Politics, Financial Advice, Charities,

The national charity regulator, the Australian Charities and Not-for-profits Commission (ACNC) says it is contacting thousands of charities that have made significant errors in their financial reporting.

February 2015

The Financial System Inquiry – Advice – February 2015

Filed under: Australian Politics, Financial Advice, Financial System Inquiry,

The Financial System Inquiry has recommended major changes in the financial advice industry, including giving a stronger role to the Australian Securities and Investments Commission (ASIC).

Senate passes Government’s financial advice changes – February 2015

Filed under: Australian Politics, Financial Advice,

The Senate in October 2014 passed the Government’s changes to financial advice laws with the support of the cross-benchers.

December 2014

Advisers register will lack some details

Filed under: Australian Politics, Financial Advice,

Treasury has published draft legislation for the Government’s proposed enhanced register of financial advisers, beginning a public consultation process that will run until December 17.

October 2014

Senate passes Government’s financial advice changes - October 2014

Filed under: Australian Politics, Financial Advice,

The Senate has passed the Government’s changes to financial advice laws with the support of the cross-benchers.

August 2014

Financial Advice: Government progressing register of advisers

Filed under: Australian Politics, Financial Advice,

The Government expects a report on the establishment of an “enhanced” public register of financial advisers by mid-August.

Financial Advice: CBA names former High Court judge to head review panel

Filed under: Australian Politics, Financial Advice,

The Commonwealth Bank of Australia (CBA) has commissioned former High Court judge Ian Callinan to chair an independent review panel.

July 2014

Financial Advice: Key findings of the inquiry into ASIC and Commonwealth Financial Planning - 4 July

Filed under: Australian Politics, Financial Advice,

The Senate Economics Committee found that, ASIC had limited resources available to it but was highly critical of the way the regulator used them.

Financial Advice: Commonwealth Bank and ASIC under critical scrutiny - 4 July 2014

Filed under: Australian Politics, Financial Advice,

A Senate committee report has strongly criticised the Commonwealth Bank of Australia (CBA) and the Australian Securities and Investments Commission (ASIC).

May 2014

FINANCIAL ADVICE: ASIC acts against Commonwealth Bank over advice

Filed under: Financial Advice,

The Australian Securities and Investments Commission (ASIC) has imposed strict conditions on the licences of two financial planning businesses owned by the Commonwealth Bank of Australia (CBA).