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FAIRNESS, VULNERABILITY AND FINTECHS… 15 Jun 2020
Regulators have a laser focus on ‘fairness’ following the numerous scandals involving overcharging, underservicing and poor customer outcomes that were laid bare in the Royal Commission into Banking. For fintechs, this means making sure fairness is embedded at every customer touch point. This is ..
HOW COVID-19 HAS AFFECTED REFORMS TO WEALTH BUSINESSES. 26 May 2020
With the ongoing COVID-19 pandemic, it’s fair to say that regulators and businesses have shifted their priorities. Timelines for legislative reforms driven by the Hayne Royal Commission and licence applications for wealth businesses have changed. APRA and ASIC licences may be delayed  ..
SAVE TIME AND MONEY WITH OUR PORTFOLIO TRANSFER AGREEMENT TEMPLATE. 21 May 2020
As the Covid-19 pandemic continues (despite some restrictions now lifting), client portfolio transfers still need to get done. You can record your transaction in a time and cost-efficient way with our easy to use, fixed price, customisable template. Who can use the template?  ..
MORE THAN A SYNONYM – WHAT IS A FIT AND PROPER PERSON? 19 May 2020
The ‘fit and proper’ person test previously only applied to credit licensees – but now it applies to AFS licensees as well. The change is bigger than it looks Previously AFS licensees had a lower threshold test that a person be of ‘good fame and character.’ On the face ..
DELIVERING DOCUMENTS ELECTRONICALLY. 12 May 2020
With the ongoing Coronavirus pandemic, more businesses are communicating with clients electronically. But what are your options when you need to supply or sign documents? Financial professionals must give their clients certain documents, including: Product Disclosure Statements ..
THE REVISED REFORM TIMETABLE FOR GENERAL INSURANCE. 07 May 2020
Regulators have shifted their priorities to deal with the COVID-19 pandemic. This means significant reforms and legislative change to general insurance (/industry-sectors/general-insurance.html) may be delayed. We outline what’s changed and when you need to be ready for reform. Licence appli ..
RETAIN STAFF AND INCREASE BUSINESS WITH NON-CASH INCENTIVES. 05 May 2020
The COVID-19 pandemic is testing us all but innovation is thriving. Increase revenue, retain cash and keep staff and referral partners motivated by being innovative with non-cash incentives. If done right your business will be ready to ramp up quickly when the economy takes off again …whe ..
DESIGN AND DISTRIBUTION – THE COUNTDOWN IS ON. 08 Apr 2020
Design and Distribution Obligations (DDO) will be imposed from 5 October 2021. While a number of legislative reforms have been delayed due to the disruption from the global Covid-19 pandemic, this legislation has been passed and may not be delayed. Business may have slowed down, but that ma ..
STARTing UP…HOW TO GET TO MARKET SOONER! 25 Mar 2020
So you’ve got an awesome idea, MVP or full product/service offering and are eager to disrupt the market… but don’t know how you’re regulated or how to comply? I’m not surprised! The Australian regulatory landscape is complex and can favour incumbents and the big end of town. Start-ups ..
5,000 REASONS WHY YOU SHOULD TRUST YOUR MORTGAGE BROKER. 17 Mar 2020
Mortgage brokers must meet the best interests duty from 1 July 2020 or risk a fine of 5,000 penalty units or $1.05 million.This means you must show you have your client’s best interests at heart. Who is a mortgage broker? A mortgage broker: is either a licensee or credit r ..
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