Fund Regulatory Update

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  • ASIC consultation open on expiring class orders on changing responsible entities and equal treatment

  • Stop orders on three BT funds

  • Lendfin, Global Pacific Solutions and Gigi Investment Group licences suspended

  • Treasurer hangs on to ASIC misconduct report citing ‘undue prejudice’

  • Capital Capital licence cancelled

  • Treasury reviewing MIS regulatory framework

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Risk Regulatory Update

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  • FPA updates Professional Code

  • ASIC industry funding model discussion paper released

  • Family violence exemptions for insurers

  • YFYS review begins

  • ASIC review of non-disclosure ‘fishing’ in TPD cover continues

  • Treasury releases Quality of Advice Review proposal

  • AFA and FPA discussing merger

  • 50% pass rate for July and August adviser exams

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Risk Product, Company and Regulatory Updates as at 5 March 2019

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  • Automated advice software developer opens Australian office

  • BT updates quoting and applications for risk, extends policy fee waiver offer

  • Suncorp sale to TAL finalised

  • Grandfathered commissions on last legs

  • AFSL approval data released by ASIC

  • APRA’s 2019 targets outlined

  • Labor wants to ban all life insurance commissions

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