Industry Insights
Life Insurance Framework Evaluation
The FSC recently published its submission to the Quality of Advice Review that importantly included a response to Treasury’s evaluation of the Life Insurance Framework (LIF).
Policy and Advocacy update - June 2022
It’s been just over a month since the 2022 Federal Election, with the new Albanese Government getting off to a quick start. Key Treasury Ministers have been confirmed with Treasurer Jim Chalmers, Minister for Financial Services Stephen Jones and Assistant Minister for Competition, Charities and Treasury Andrew Leigh rounding out the Treasury Benches.
Reducing the cost of providing financial advice is the key issue facing the Quality of Advice Review
With Financial Services Minister, Hon Stephen Jones, reinforcing no changes to the Terms of Reference for the Quality of Advice Review last week, one thing is clear: reducing the cost of providing advice to allow more advice on the issues consumers need and want while ensuring they are protected - is the key issue before the Review.
ASIC consultation on proposed DDO exemption for reissue of insurance policies
ASIC is conducting a targeted consultation in response to a FSC request for life insurers to be exempt from the design and distribution obligations (DDO) in certain limited situations.
Updated Guidance for Corporate Collective Investment Vehicles
ASIC released new and updated guidance for corporate collective investment vehicles (CCIVs) on 23 June. The requirements come into effect on 1 July 2022, when the CCIVs regime commences.