Risk Product, Company and Regulatory Updates as at 6 August 2019

Risk Product, Company and Regulatory Updates as at 6 August 2019
  • IRESS improves Xplan

  • FPA CPD platform launch

  • CountPlus shareholders in favour of acquiring Count Financial

  • CBA approved to divest CFSGAM

  • APRA stakeholder survey shows regulator favour dropping

  • NAB document leak

  • MLC adviser fee class action plans

  • ASIC suing ANZ over periodical fee payments

  • FASEA exam update

  • Grandfathering commissions proposed ban date 1 January 2021

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Risk Product, Company and Regulatory Updates as at 9 July 2019

Risk Product, Company and Regulatory Updates as at 9 July 2019
  • NEOS Life enhances risk-only superannuation product

  • AMP adds functionality to My AMP

  • OnePath updates trauma definitions, underwriting engine

  • MLC Super changing TPD claim assessments for Any Occupation

  • First FASEA exams completed

  • APRA: financial institutions to register an ‘accountable person’

  • AWSM has AFSL cancelled

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Risk Product, Company and Regulatory Updates as at 19 February 2019

  • Clearview updates LifeSolutions pricing

  • MLC MySuper goes from single strategy to lifestage

  • Delays for MLC sale

  • Westpac looking at selling in-house planners

  • Fourth report on four major banks released

  • FASEA adjusts adviser exam

  • Freedom Insurance Group suspends trading

  • ASIC appeals Federal Court decision on Westpac breaches

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

  • Tasplan appoints MetLife as group insurer

  • AMP risk business closed after sale

  • New life insurance reporting standards launched

  • ClearView upgrades LifeSolutions

  • Asteron Life product update

  • TAL Accelerated Protection upgrades

  • MLC offering 10 per cent premium discounts via digital underwriting platform

  • ASIC inviting consultation on proposed licensee competence requirements

  • AFA and FPA apply for Code Monitoring job

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Risk Product, Company and Regulatory Updates as at 2 October 2018

  • Asteron Life Complete product changes

  • Zurich launches new adviser portal

  • MetLife Australia back in retail life business

  • ASIC taking civil action against ANZ

  • ASIC report finds unacceptable delays in reporting by institutions

  • Dover Financial Advisers and sole director taken to court

  • FASEA announces changes to qualification requirements for advisers

  • NAB and MLC facing class action over consumer credit insurance

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Risk Product, Company and Regulatory Updates as at 8 August 2018

  • AIA Australia increasing discounts

  • TAL-owned Affinia extends advice offering into licensee services

  • Level premium policy replacement at BT

  • Media Super reappoints Hannover Life Re, drops premiums

  • FSC code of practice to cover super trustees too

  • Digital advice company and retiree advice platform merge

  • MLC to refund $65m, NULIS before royal commission

  • ASIC announces professional standards reform for advisers

  • AMP fast-forwards advice remediation

  • Advisory businesses to be publicly rated

  • NAB slammed at Royal Commission for 'hopelessly conflicted' compensation situation

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

  • TAL offers life coaching for those with mental illness

  • CommInsure enhances digital underwriting

  • Adviser education course launched by Asteron

  • AIA pushes for insurers to fund mental health treatment

  • MLC launched new underwriting engine

  • Predictive underwriting offered to tradies by ANZ

  • Commonwealth partners with Bravura

  • CBA enters into undertaking

  • Trustee Partners acquires advice group

  • AMP admits serious misconducts

  • AMP admits serious misconduct, misleading ASIC

  • CBA and subsidiaries enter into EU with ASIC

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Risk Product, Company and Regulatory Updates as at 20 March 2018

  • Macquarie acquires equities specialist
  • Prime Super unveils digital claims process
  • Atlas Wealth expands operations
  • MLC improves underwriting engine, launches virtual assistant
  • Few systematic issues identified in life insurance
  • WSU designs finance course to meet new standards
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Fund Product, Company and Regulatory Updates as at 28 November

  • MLC completes investor-based fund offering
  • UniSuper moves toward a public offer fund
  • gigSuper reaches out to niche market
  • Netwealth and SelfWealth announce ASX listing
  • BYN to merge investment firms
  • Frontier Advisors announces new investment consultant
  • Optimum Pensions launch new product
  • Mercer assist members experiencing violence
  • ASIC cancels AFS licence
  • Orders against Gold Coast company obtained by ASIC
  • ASIC acts against SMSF scheme
  • ASIC welcome paper proposing fees-for-service changes
  • ASIC accepts enforceable undertaking from Foster Stockbroking
  • Bell Potter pays infringement notice
  • Dubai and Australia fintech cooperation
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Risk Product, Company and Regulatory Updates 5 September 2017

  • AIA Priority Protection expands availability
  • New insurance professionals CPD app
  • AIA launched door-to-door insurance service
  • ANZ launches new trauma option
  • MLC to expand Best Doctors service
  • New Prime business division
  • AFA announces counselling services
  • MS&AD buys Challenger stake
  • Huddle uses technology to pay claims faster and tackle fraud
  • APRA inquiry into CBA
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Risk Product, Company and Regulatory Updates as at 10 June 2017

  • Zurich updates life insurance suite
  • AMP improves adviser platform
  • MLC partners with international claims manager
  • AIA Australia pilot phase for new health insurance brand commences
  • Prime Financial buys another practice
  • Link Group buys automated advice company
  • New online platform for underwriting agencies and insurers
  • New international certification for life insurance and annuity professionals
  • ASIC releases commission caps and clawback instrument
  • Investment Advisers Alliance AFS licence cancelled
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