These are my findings from the Final Report of the Royal Commission:https://www.royalcommission.gov.au/sites/default/files/2019-02/fsrc-volume-1-final-report.pdfThe last point sounds like accountability. Further on in the report.....
- Ongoing fee arrangements - page 25 (doesn't sound major to me)
- Disclosure of lack of independence - page 25 (more disclosure but that's it...)
- Quality of advice - page 26 (a fresh review due in 3 years' time)
- Grandfathered commissions to be repealed ASAP - page 26 (as expected)
- Disciplining of financial advisers: information sharing (positive but nothing major to me), reporting compliance concerns (AFSL holders will be obliged to report on a quarterly basis)
- New disciplinary system (wohoo!!) - page 28 (All retail financial advisers will need to be registered, disciplined by a single body, clients can report misconduct to this centralised register/system, AFSL holders also required to report...kinda before clients complain)
The headline is now saying the government will adopt 75 of the 76 recommendations.
- "Third is the disciplinary system for financial advisers. One hallmarkof a profession is the existence of a credible and coherent systemof professional discipline where the ultimate sanction is expulsionfrom the profession." - page 135
- New approach to disciplining advisers from page 212.
I'm getting rather encouraged about the long term prospects of CAF. I say the share price will return back to 36-38 cents which was the level in August 2018 when the news broke...
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29.5¢ |
Change
0.005(1.72%) |
Mkt cap ! $58.67M |
Open | High | Low | Value | Volume |
29.0¢ | 29.5¢ | 29.0¢ | $12.04K | 40.94K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 22728 | 29.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
30.0¢ | 43520 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 22728 | 0.290 |
1 | 54468 | 0.285 |
2 | 48003 | 0.280 |
2 | 9636 | 0.275 |
4 | 130932 | 0.270 |
Price($) | Vol. | No. |
---|---|---|
0.300 | 43520 | 2 |
0.305 | 33233 | 1 |
0.310 | 20606 | 2 |
0.315 | 3000 | 1 |
0.330 | 83500 | 3 |
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