Consumer protections for sophisticated investors need to be reviewed as the size of their wealth does not necessarily equal their financial knowledge, according to Justice Sarah Derrington, president of the Australian Law Reform Commission.
Confusion around current advice compliance settings needs to be the target for Treasury and the ALRC in their concurrent reviews, says CoreData founder Andrew Inwood. Get it wrong and money will drift out of the system, which could have dire consequences.
With the race to the federal election heating up, voters have shown a tendency to trust the ALP on issues to do with security, continuity and accountability in the financial services industry according to CoreData.
Broadcaster and academic Waleed Aly has been slammed by an economist and on social media for his incorrect comments about the cost of living, wage growth and inflation.
High growth in SMSFs sets a challenge for APRA-regulated funds which must concentrate more on providing services rather than just products according to CoreData chief executive Andrew Inwood.