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While it may surprise some to know that the original concept of life insurance can be traced back millennia to ancient times, there is no doubt the life insurance industry plays a vital role by providing financial protection when people need it most. Read more

Recently, your FSC team intently watched the Senate live stream as divisions were called for a critical piece of reform to superannuation – Minister Jane Hume’s 'Your Super, Your Choice' bill enabling every Australian to choose a superannuation fund.  Read more

Advocacy by the FSC, along with the Financial Planning Association of Australia (FPA) and the Association of Financial Advisers (AFA) – to ASIC and the Federal Government has secured valuable clarity on the parameters for electronic renewals of Ongoing Fee Arrangements (OFAs). Read more

Welcome to Issue 40 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. In this issue, the FSC team analyses the pilot initiative to allow life insurers to provide earlier intervention to support customers, revised APRA guidance for insurers and banks capital management and ASIC consultation on Reference Checking protocol.   Read more

Now that the hurly-burly’s done and the battle is lost and won, what is the outcome for fees and costs disclosure? Read more

The FSC recently announced that the Investment Board Committee had been reconstituted into the Fund Management Board Committee (FMBC), which is supported by the Investment Expert Group (IEG). Read more