MM Newsletter
  30 August, 2021
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Industry News
ASIC levy reduced by Govt
This relief would see the corporate regulator’s levy restored to its FY19 level of $1,142 per adviser for the next two years, while the flat per licensee charge would remain at $1,500 as Treasury reviews the Industry Funding Model.
Money Management Original
ASIC agrees levy an issue but points to legislation as cause
The corporate watchdog has said it has been communicating with Government and Treasury about its funding model for three years but that they needed to be compliant with the law.
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Money Management Original
Centrepoint/Clearview entity to have over 500 advisers
Centrepoint’s acquisition of Clearview’s advice business will create a new combined entity that will be one of the largest financial planning groups in the country in terms of adviser numbers.
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Industry News
APRA releases remuneration standard
The remuneration standard comes into effect at the start of 2023 and aims to create more balanced incentive structures for the superannuation, insurance, and banking industries.
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Money Management Original
ASIC affordable advice project on hold due to SDB
Some of the CP 332 ‘Promoting access to affordable advice for consumers’ project has been put on hold as the corporate regulator assesses what funding will be needed for the single disciplinary body.
Industry News
Govt consults on CCIV
The Federal Government will begin consultation on finalising its Corporate Collective Investment Vehicles regime, which aims to benefit foreign investment in Australian managed funds.
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Industry News
Ex-adviser faces criminal charges for ban breach
The corporate regulator alleges former financial adviser Lawrence Toledo breached a ban that was in response for not acting in clients’ best interest.
Editorial
Money Management Original
Transparency needed on ASIC unmet needs project
The decision to withhold submissions from its consultation into affordable advice is a contrary move by the corporate regulator when the advice industry has funded the $386,000 project.
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InFocus
Money Management Original
InFocus: The future of a concentrated life insurance market
As TAL acquires Westpac Life Insurance, experts believe international ownership of life insurers is no bad thing as it will bring expertise and specialisation but a smaller market could cause innovation to wither, writes Jassmyn Goh.
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