Australia
Australia’s Westpac taken to court over advice failures
Australia’s financial services regulator is taking legal action against one of the country’s biggest banks for giving financial advice that failed to put the “best interests” of its clients first.
Australia offers fintech licensing exemption
Fintech firms will be able to test certain services in Australia without holding a financial services or credit licence under a “unique” exemption offered by the Australian Securities and Investments Commission (Asic).
Best Practice | 1 Dec 16
Australia passes law to slash upfront life commissions
The Australian government has passed a law that will significantly reduce the upfront commissions paid on life insurance products and cap ongoing charges.
Australia’s IOOF considers buying ANZ’s wealth business
Australian-listed financial services firm IOOF Holdings has indicated it is interested in buying the ANZ bank’s domestic wealth management business.
Australia unveils standards bill on degree-qualified advisers
Australia has introduced a new professional standards legislation that will require financial advisers to be degree-qualified.