Category: Media Release

AFCA review targets problem of wholesale client complaints

Stockbrokers and Financial Advisers Association (SAFAA) welcomed Treasury’s recommendation in its report on the Independent Review into the Australian Financial Complaints Authority (AFCA) that complaints from sophisticated clients should be […]

SAFAA welcomes ASIC’s long-awaited report on the 2020 ASX outage

Stockbrokers and Financial Advisers Association (SAFAA) has welcomed ASIC’s long-awaited report on the 2020 ASX outage. ‘We are pleased that ASIC has recognised the need for ASX to refine its […]

SAFAA welcomes government removing unnecessary DDO red tape

Stockbrokers and Financial Advisers Association (SAFAA) has welcomed the government’s announcement that it will remove the requirement for distributors to report ‘nil complaints’ to issuers. Under the legislation dealing with […]

Welcome relief from unsustainable ASIC levy

The freezing of the ASIC levy at 2018-2019 levels of $1,142 per adviser for the next two years and the review of the ASIC funding model in that time is […]

Compensation scheme of last resort may be last straw for financial advice

  Compensation scheme of last resort may be last straw for financial advice industry • Financial advice industry opposes design of proposed compensation scheme of last resort (CSLR). • Concerns […]

SAFAA welcomes ASIC’s approach to new laws

Stockbrokers and Financial Advisers Association (SAFAA) welcomes ASIC’s announcement today that it will take a reasonable approach to the regulatory reforms coming into effect in October 2021. ASIC has stated […]

Latest ASIC levy estimate proves model is unsustainable

ASIC’s levy estimate of at least $1,500 plus $3,138 per financial adviser for FY 2020-21, an increase of $712 from the previous financial year, proves that the current levy model […]

Regulators shoehorning consumers into full-service advice not what consumers want

In response to ASIC’s consultation paper on promoting access to affordable advice for consumers, Stockbrokers and Financial Advisers Association (SAFAA) CEO Judith Fox has called for ASIC and the government […]

SAFAA welcomes streamlining of financial advice regulation to the benefit of retail investors

The Stockbroker and Financial Advisers Association (SAFAA) has always supported high professional standards for those providing stockbroking and investment advice to retail investors in Australia. SAFAA therefore welcomes the government’s […]

Why are SMSF and retail investors missing out on ASX capital raisings during COVID-19?

Retail and self-managed super funds often lose out when listed companies raise capital, and the regulatory framework overseeing equity capital needs to be reformed to remove this anomaly in the […]