Rhett Das

Half of advisers rate their understanding of the breach reporting regime as ‘low’ or ‘very low’, indicating the industry is unprepared to deal with the new system. The ‘State of Financial Services Breach Reporting in Australia’ report shared insights of the first six months of the breach reporting regime and was conducted by Gadens and Lawcadia in conjunction with CoreData.

Advice businesses increasingly understand the importance of scale and efficiency, and they’re taking action to get it including consolidating and streamlining systems, adopting new technology and participating in mergers and acquisitions. However, incremental gains in efficiency are often being eroded by choice. Choice is a fundamental component of quality, personal financial advice.

Chris DastoorApril 11, 2022 | 3.32pm The Financial Planning Association has praised ASIC’s steps to combat finfluencers, expecting the move will quash concerns of a “two tier” regulatory approach. ASIC executive director for markets Greg Yanco told Professional Planner in March that finfluencers caught flouting financial services laws could face prison or hefty fines.