Australia
Figures reveal huge scale of LM fund sales
A full year after LM Investment Management filed for administration in a Queensland Court, figures seen by International Adviser reveal how widespread the sale of its flagship Managed Performance Fund.
Tax & Regulation | 19 Mar 14
anti fofa campaigner sinodinos steps
Arthur Sinodinos, the Australian government official who was one of the main proponents of a plan to weaken FOFA, Australia’s recently-enacted financial services reforms package, is to “stand asidefollowing revelations about his connection to an ICAC [Independent Commission Against Corruption] inquiry in New South Wales”, The Australian is reporting today.
Tax & Regulation | 13 Mar 14
australias regulator to monitor fofa changes
The man behind plans to make major changes to Australia’s answer to RDR, assistant treasurer Arthur Sinodinos, took to Australian national television Tuesday night to discuss the controversial plans, and revealed that the Australian Securities and Investments Commission would be tasked with monitoring the changes, if they go ahead.
Tax & Regulation | 17 Feb 14
battle lines being drawn over australian rdr
Special interest and consumer groups in Australia have begun to speak out over a government plan to make significant changes to the country’s recently-enacted package of investor protection laws, which were among the first globally to include a ban on the use of commissions as payment for providing financial advice.
Tax & Regulation | 9 Feb 14
australia govt to seek to water down
Financial planners in Australia will “once again be able to earn commissions for selling a wide range of investment products” if a government plan to “water down investor protection laws” goes through, one of the country’s leading financial publications reported over the weekend.