Welcome to the latest issue of the KHQ Super Alert. This week AFCA released a summary of the complaints which it received in the 2020/21 financial year. ASIC has provided a summary of the industry’s response to its consultation on access to financial advice. AFCA – Summary of complaints in FY 2020/21 On 5 July … Read more
Welcome to the latest issue of the KHQ Super Alert. This week several outstanding Royal Commission recommendations, including the ban on advice fees from MySuper products and the Bill relating to the closure of ERFs, were passed by Parliament. Treasury announced that a review of AFCA will commence (as required by the relevant legislation) and … Read more
Welcome to the latest issue of the KHQ Super Alert. The regulators have been busy this week with both ASIC and APRA releasing several reports and information for the industry including in relation to the APRA heatmap, member outcomes, design and distribution obligations, insurance in superannuation and the implementation of BEAR. This is likely to … Read more
Welcome to this week’s issue of the KHQ Super Alert. The main news items relate to updates from ASIC, including the new regulatory guide RG 271 which sets out changed internal dispute resolution standards for trustees. ASIC – Internal dispute resolution regulatory guide On 30 July 2020, ASIC issued RG 271: Internal Dispute Resolution (RG … Read more
… or why corporate advisers really need an Australian Financial Services Licence By Venn King (Special Counsel) and Darrell Choong (Trainee Lawyer) There has been a great disturbance in the Force … or the financial services world at least! A recent case, Validus Advisory Group v Consolidated Tin Mines Ltd [2018] NSWSC 417 (“Validus”) has shone … Read more
