The Royal Commission interim report is here

Alex Burke,  Senior Writer,  No More Practice Education

With the Royal Commission interim report now available to the public, it's worth looking past the headlines and considering what's actually being recommended for the advice industry.

After all, some of the misconduct discussed throughout the Commission hearings - and referenced in the report - pertained to behaviour that occurred prior to some of the more recent reforms affecting financial advice. So, looking forward, where is Hayne's report seeing further opportunities for change?

In this article, we’ll cover how potentially conflicted remuneration might be managed, and how licensees should deal with it.

Issues identified in advice

The report identified multiple extant concerns in financial advice. First, it questioned how an adviser’s employer and licensee encourages the provision of “sound advice” – including, where appropriate, recommending a client “do nothing.”

It also asked whether conflicts of interest and duty can be managed, and identified a potential need for greater separation between the manufacture of financial products

Continue Reading
Liked this article? Let us know

Want more of the latest in opinions, expert insights and training?

Subscribe to our free eNewsletter now

/ Related content

Labor calls Royal Commission inadequate

Labor's submission to the Royal Commission interim report sheds some lig....

What do millennials mean for global investment trends?

The economic weight behind millenials is growing ever stronger. What doe....

Does the Royal Commission even matter?

ASIC's new chair seems doubtful.

Leave a comment /

Related content /

14 November, 2018

Alex Burke,Senior Writer,No More Practice Education

Labor calls Royal Commission inadequate

Labor's submission to the Royal Commission interim report sheds some light on what a change in government might signal.

Read now

01 November, 2018

Alex Burke,Senior Writer,No More Practice Education

What do millennials mean for global investment trends?

The economic weight behind millenials is growing ever stronger. What does this shift mean for investing as we know it?

Read now

WordPress Lightbox Plugin