Risk Product, Company and Regulatory Updates as at 16 April 2019

  • BT Protection Plan changes

  • Freedom Insurance selling admin and advisory business, goal to close its doors

  • Integrity Life announces product enhancements

  • Asteron Life extends wholesale commission discount offer

  • BT’s Cancer Assistance Program results

  • Bridges to buy Bendigo and Adelaide Bank advice business

  • SMSF Advisers Network with additional licence conditions imposed

  • AMP FP new AFSL conditions imposed

  • Update on CBA’s AFSL conditions

  • Victims of financial misconduct to have greater supports

  • ASIC can now intervene on problematic financial products

  • FPA calls for ‘general advice’ term to be dumped

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Risk Product, Company and Regulatory Updates as at 22 January 2019

  • Adviser licensee joins forces with investment platform for innovation

  • FASEA updates on education standards

  • Westpac and BT still failed consumers, says court

  • Advanced Wealth Financial Services in court

  • HNW Planning has licence restrictions applied

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Risk Product, Company and Regulatory Updates as at 23 October 2018

  • TAL adviser centre launch, minor changes to product structure and pricing

  • ASIC’s inspectors in big banks

  • CBA fees for no service EU update

  • Raiz Invest and Swiss Re partner up to launch group insurance products

  • Electronic advice register launch

  • BT updates quote and application software, announces policy fee waiver

  • Corporations Act sections of FASEA exams to be open book

  • Banks removing trail commissions and grandfathered payments

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Risk Product, Company and Regulatory Updates as at 18 September 2018

  • AMP updates medical definitions

  • AIA Australia two year policy fee waiver offer

  • OnePath premium waivers for drought-affected farmers

  • New fintech to replace paraplanners launched

  • Junior financial adviser roles at BT to go, advice restructure

  • Morgan Stanley false claims of independence

  • ASIC commences proceedings against NULIS and MLC

  • AFCA complaints resolution rules, independent assessor terms approved

  • FASEA shutting down so-called FASEA-approved courses

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Risk Product, Company and Regulatory Updates as at 6 February 2018

  • AIA Australia's cancer wellness program launched, policy fees waived
  • MBS Insurance joint venture
  • Advice firm offers life insurance
  • Online Australian consumer brand offering life insurance
  • Global alliance formed by insurtech associations
  • OnePath Life purchased by Zurich
  • Integrity Life moves into retail
  • Electronic medical certificates adopted by BT
  • Medical specialist board created by TAL
  • Commonwealth Bank planning licence conditions update
  • Propositions to give ASIC power to ban products
  • ASIC reviews insurance advice
  • FSC requiring three insurers on APLs
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Fund People as at 4 October 2017

  • BT builds investment team
  • Mercer announces new investment officer
  • Local Government Super announces chief executive
  • KPMG appoints management head
  • New ASIC information officer
  • Australian Ethical Investment appoints new director
  • APRA names panel for CBA investigation
  • Australian Ethical Investment appoints new director
  • CEO of Kinetic Super departs
  • CBA leadership team changes
  • Centuria chief executive steps down
  • HUB24 distribution head exists platform
  • ASB chief executive to retire
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Fund Product, Company and Regulatory Updates as at 11 April 2017

  • BT, Asgard, add bond fund to platforms
  • SSGA growing with new fund
  • AMP launches long-term global equity fund
  • Perennial Value launch new microcap strategy
  • Suncorp transitions $7.7bn from Nikko into other managers
  • First FoFA breaches - NSG Services
  • Rural & General Insurance has AFSL cancelled
  • Citibank refunds $5m in credit card transaction fees
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Fund Product, Company and Regulatory Updates as at 28 March 2017

  • Auscap now available on Macquarie Wrap
  • AZ Sestante enters Australian market, launches three new funds off CFS platform
  • AMP improves MyNorth
  • New CBA climate bond
  • Financial Advisers Consultative Committee set up by ASI
  • ASIC issuing 50 super funds with question
  • BT to merge 12 super funds
  • Barclays under the ASIC microscope for breaches
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