Industry Insights
Fixing fee disclosure and ironing out opt-in
The Fee Disclosure Statement (FDS) became part of our advice regulation the Future of Financial Advice (FOFA) reforms nearly a decade ago.
Economic observations
On 23 July the Government released its Economic and Fiscal Update, reflecting the health of the economy over the 2019-20 financial year, and providing important forecasts for 2020-21.
RG 97: Fee and cost disclosure: the end of the Saga? A new one begins?
For many years now, ASIC has been on a quest for the Holy Grail of transparency and comparability in fees and costs disclosure of financial products.
Evolving model for life insurance
A life insurance advice model, where product issuers pay for consumers to seek independent advice, could be a way forward for the industry as it moves on from the turmoil of the 2018 Royal Commission and regains public trust, according to a senior lawyer.