All good for Fiducian - law should be amended to require that a financial adviser who would contravene section 923A of the Corporations Act by assuming or using any of the restricted words or expressions identified in section 923A(5) (including ‘independent’, ‘impartial’ and ‘unbiased’) must, before providing personal advice to a retail client, give to the client a written statement (in or to the effect of a form to be prescribed) explaining simply and concisely why the adviser is not independent, impartial and unbiased.No banning of vertical integration - it's too entrenched - sensible recommendation If an FSG is required, it must be provided to the client as soon as is practicable after it becomes apparent that the financial service will be provided to the client, and in any event before that service is provided.196Among other things, an FSG must include information about:197• who the providing entity acts for when providing the financial service;• the remuneration (including commission) or other benefits that the providing entity (and certain related parties) are to receive in respect of the provision of the financial service; and• any associations or relationships between the providing entity, or any related body corporate, and the issuers of any financial products, being associations or relationships that might reasonably be expected to be capable of influencing the providing entity in providing the financial services.At present, there is no requirement to disclose any information about any approved products list used by the providing entity.The United Kingdom has gone some way towards requiring disclosure of that kind of information. In the UK, financial advisers who provide personal recommendations to retail clients are divided into two types: those who provide ‘independent advice’ and those who provide ‘restricted advice’I like the UK model
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Last
$8.79 |
Change
-0.060(0.68%) |
Mkt cap ! $276.6M |
Open | High | Low | Value | Volume |
$8.85 | $8.85 | $8.70 | $103.4K | 11.71K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 325 | $8.72 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$8.79 | 517 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 325 | 8.720 |
2 | 419 | 8.700 |
1 | 110 | 8.600 |
1 | 5121 | 8.550 |
1 | 300 | 8.500 |
Price($) | Vol. | No. |
---|---|---|
8.790 | 517 | 1 |
8.800 | 2663 | 2 |
8.920 | 1453 | 3 |
9.000 | 75 | 1 |
9.050 | 2082 | 2 |
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