ASIC Update 8th December 2019 Dr Rhys Bollen, Senior Executive Leader of the Investment Manager Team within ASIC spoke at the Professional Planner Researchers Forum. Read on for IMAP's view of the high level takeouts from his presentation and considerations for licensees who advise on managed accounts.
The IMAP Regulatory Group was formed in September 2018. A key reason for the formation of the group was to ensure that the broad managed account community was well represented in issues that specifically affect providing and advising on managed accounts.
ASIC has announced that as at 23 March 2020 it has immediately suspended a number of near-term activities which are not time-critical,including a consultation paper on Managed Discretionary Accounts...
Updated guidance gives more clarity on how superannuation & managed investment product issuers & platform operators should disclose fees & costs.
Financial advisers will be granted an additional three months to meet their required 40 hour CPD requirement. The decision to provide relief for advisers with their CPD requirements was made by the Financial Adviser Standards and Ethics Authority (FASEA) in response to business disruption caused by COVID-19.
The Chair of the IMAP regulatory Group, Adam Seccombe, provides a review of the work done by the group and looks ahead at the work to be completed.
The IMAP Regulatory Group was invited to participate in an open forum with ASIC, based on the surveillance ASIC conducted during 2019 on platform operators, SMA and MDA providers. PLease read on for an update as at March 2020.
David Wright, CEO Zenith Research and Toby Potter, Chair IMAP discuss the state of the managed accounts market, as the industry rides out the COVID-19 pandemic.