The corporate regulator has rejected an assertion from liberal MP Bert Van Manen that its advice lookback requests “back as far as 2008” assess advisers on the basis of standards that did not exist at that time.
Speaking at the Parliamentary Joint Committee inquiry into ASIC’s oversight on December 16, Van Manen voiced a common line of complaint from the industry – that benchmarking advisers against today’s regulatory standards for work completed many years ago is contributing to undue fear and forcing the sector to overcompensate compliance.
“Does ASIC acknowledge that these circumstances heavily influence how the financial advice sector responds to regulatory risk?” the MP asked.
As the industry prepares for the move to annual fee renewals, the regulator has noted that a client’s choice to decline an annual review in the past does not excuse a licensee from refunding advice
Corporate-box tickets to major sporting events, pre-pandemic overseas flights and even a kava bowl from Samoa are among the free gifts pocketed by Queensland s federal politicians in the past year. There were flights to Bangladesh, India and Israel from lobby groups and a charity were accepted by three MPs. Meanwhile ALP figure Evan Moorhead s lobby firm Anacta Strategies shouted two Queensland Labor senators tickets to the AFL grand final valued at $2250. The gifts are revealed in the official register of interests for federal MPs and senators. One of the most prolific gift accepters was Member for Moncrieff Angie Bell, who declared on her register of interest tickets to the PGA championship, Big Bash tickets, Eurovision Australia Decides, Magic Millions Hospitality, Pink Ribbon Race Day at the Gold Coast Turf Club, two events at the Home of the Arts on the Gold Coast, as well as a study tour to Bangladesh paid for by Save the Children.
Political staffers reject lowball pay offer on Christmas Eve
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Political staffers reject lowball pay offer on Christmas Eve
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Political staffers have emphatically voted down a pay offer of between zero and less than 2 per cent increase, the first time in 13 years they have rejected an enterprise agreement.
Three in five staff who voted in the ballot in the week before Christmas rejected it.
Finance Minister Simon Birmingham has reported a pay offer was voted down by politicians staff.
Credit:Alex Ellinghausen
The Finance Department had offered a 1.7 per cent pay increase for electorate officers and assistants, 0.85 per cent for advisers, both coming in after six months, and no pay rise for a year for senior advisers and chiefs of staff. It is the first agreement proposed under the government s new bargaining policy to link public service pay to private sector wa