ASIC calls for ban on general insurance commissions – industry reacts
Australia’s corporate regulator wants a major shake-up in the industry, including banning some products
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Firm to pay $1 million over “best interests” breach
Financial advice group is the first company of its kind to be penalised under FOFA’s best interests duty
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ASIC calls for new ‘user pays’ funding model
ASIC has made a series of recommendations in its submission to the Financial System inquiry including making the user pay for the services the regulator provides them.
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Industry body closely monitoring FoFA issues
The broker's industry body says it is closely monitoring developments as the uncertainty over the repeal date of controversial legislation grows.
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'Best interest' FoFA repeal suffers unspecified delay
Changes to the Future of Financial Advice reforms have been delayed after the Australian parliament sent it to a committee for further consideration.
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Government overturns 'burdensome' Labor legislation
The Liberal Government is set to overturn a key plank of the Future of Financial Advice legislation in an attempt to ease the administrative burden on brokers.
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NIBA 2013: New government red tape drive to benefit brokers
The new Federal Government's drive to reform financial services could work in the favour of insurance brokers, according to NIBA's CEO.
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PI premiums to skyrocket under FoFA
Financial advice reforms could drive up the cost of professional indemnity insurance by as much as 20%, according to new research.
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Election 2013: Who’s got your vote?
With just days until the Federal Election, brokers are giving their views on the main contenders in the race.
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FoFA reforms good for broker image
Could plans to prohibit brokers from moving clients to new insurers be a chance for intermediaries to show government just how compliant and strictly regulated the industry already is?