ASIC creates adviser lee-way on grandfathering The Australian Securities and Investments Commission has created some time and space for advisers by delaying, for now, its work on life insurance advice and conflicted grandfathered remuneration. For more.

Backlash slows ASIC’s termination of grandfathered commissions: AIOFP The corporate regulator is only putting the brakes on terminating grandfathered commissions because consumers have started to realise the cost of advice has escalated due to ‘ridiculous’ levels of compliance, the Association of Independently Owned Financial Professionals believes. For more.

Count Financial adds new head of professional standards Phil Creswell has been appointed head of professional standards by Count Financial. For more.

Banks ready to support JobKeeper scheme The Australian Banking Association has announced the banks’ readiness to support the JobKeeper program. For more.

Australians can 'rest easy' over credit rating Australians who have been granted a deferral on their loan repayments will not have their credit rating impacted, so long as they were up to date with repayments prior to COVID-19. For more.

ASIC cancels three Qld-based licences FS Securities, Your Super Life, and MyPlanner Australia have all had their Australian financial services licenses cancelled. For more.

SMEs receive $250m support package The Treasurer, Josh Frydenberg, and the Australian Office for Financial Management have announced measures to support the small and medium-sized business (SMEs) sector with a $250 million package. For more.

Don’t let early access to super become the next pink batts It is probably inevitable that some people will try to rort or manipulate hardship early access to superannuation and the Government will need to be vigilant to ensure it does not become a re-run of the Rudd Government’s pink batts fiasco. For more.

InFocus: Why early access will make sense for some Self-managed superannuation funds specialist, Meg Heffron, explains why the Government’s COVID-19 measures providing hardship early access to superannuation represent a solid option for some SMSF trustees. For more.