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Welcome to Issue 39 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry.  COVID-19 has again dominated the political landscape, with the most recent sitting of Parliament cancelled. It appears likely the next sitting period, scheduled to commence 24 August, will proceed, with Victorian-based MPs and Senators asked to quarantine for 14 days beforehand if they wish to attend.  Read more

Online attendees at this week’s FSC Life Insurance Summit heard numerous industry leaders discuss the substantial challenges facing the life insurance sector. Read more

The life insurance industry is at an “inflection point” which challenges its long-term sustainability and demands fundamental change: this was the consensus view from a panel of industry leaders comprising regulators, re-insurers and product manufacturers. Read more

Financial advisers have been “inundated” with enquiries from clients during the COVID-19 pandemic and people without advisers had struggled to find someone to help them, the FSC’s Life Insurance Summit was told. Read more

The Fee Disclosure Statement (FDS) became part of our advice regulation the Future of Financial Advice (FOFA) reforms nearly a decade ago. Read more

At 27 I was diagnosed with Acute Myeloid Leukemia and quickly learnt what you really don’t want to leave until the last minute Read more