Portfolio Archive - imac legal & compliance

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imaclegaldev December 17, 2018 0 Comment

Have you noticed how every other day it seems there is a new call for advisers to be

imaclegaldev November 23, 2017 0 Comment

Goals-based advice represented a fundamental challenge to the traditional model of risk profiling of clients, but it was

imaclegaldev November 23, 2017 0 Comment

The problem with goals–based advice is that it makes advisers look bad! Let me explain. Since Financial Services

imaclegaldev November 23, 2017 0 Comment

The first post-FOFA ‘best interests case’ involving a licensee which advised retail clients in life risk insurance and

imaclegaldev November 23, 2017 0 Comment

The result of ASIC’s first best interests duty court case is proof that advice firms must have processes

imaclegaldev November 23, 2017 0 Comment

The draft regulations for the Life Insurance Framework legislation need further clarification, according to a lawyer operating within

imaclegaldev November 23, 2017 0 Comment

A leading lawyer has highlighted some “concerning” loopholes and unintended consequences within the current Life Insurance Framework that

imaclegaldev November 23, 2017 0 Comment

The proposed life insurance framework (LIF) legislation that was introduced into Parliament at the end of November 2016

imaclegaldev November 23, 2017 0 Comment

The updated life insurance framework (LIF) legislation now before Parliament fails to deal with a number of potential

imaclegaldev November 23, 2017 0 Comment

A funny thing is happening in financial services and it’s changing the nature of financial planning practices before

imaclegaldev November 23, 2017 0 Comment

The Financial Services Council (FSC) has hit back at critics of the government’s life insurance reforms, saying a

imaclegaldev November 23, 2017 0 Comment

As a financial services lawyer and compliance adviser I have, over many years, reviewed more statements of advice

imaclegaldev November 23, 2017 0 Comment

There has been much said and written about the new accountants licensing regime, but specialist financial services lawyer,

imaclegaldev November 23, 2017 0 Comment

The new accountants licensing regime is not fit for purpose and this largely explains the reluctance of accountants

imaclegaldev November 23, 2017 0 Comment

For many advisers, the jury is still out on the value of the Future of Financial Advice (FOFA)

imaclegaldev November 23, 2017 0 Comment

Changes to the Future of Financial Advice (FOFA) bill that passed through the Senate with bipartisan support in

imaclegaldev November 23, 2017 0 Comment

Life risk advisers needed to start considering the practical legal and compliance considerations of the Life Insurance Framework

imaclegaldev November 23, 2017 0 Comment

Advice firms should resist any attempts by ASIC to force them to accept remediation outcomes that involve them

imaclegaldev November 23, 2017 0 Comment

Advice firms should push back on any moves by the corporate regulator that would force them to accept

imaclegaldev November 23, 2017 0 Comment

Many advisers are sceptical of the value Future of Financial Advice (FOFA) opt-in provisions deliver to practices and

A specialist financial services lawyer has urged advice firms to resist any attempts by the Australian Securities and

Financial advisers needed to work collectively with their relevant industry associations if they wanted to lobby the government

The Australian Securities and Investments Commission (ASIC) risks creating a "lawyer's picnic" if it proceeds with moves to

Current financial services legislation is too heavily focused on labelling advisers as product providers rather than advice providers,

Financial services lawyer and principal of imac legal & compliance, Ian McDermott, said the regulators should scrap Chapter

Key financial services laws need to be scrapped and redrafted afresh because they are too focused on the

Australia’s financial services laws needed to be rewritten from scratch in order to eliminate structural problems and complexity,

Licensees stand to be significantly adversely impacted by the claw-back provisions within the new Life Insurance Framework, particularly

A new law firm and compliance consultancy has been established to support small to medium-sized financial services businesses

To help small and medium enterprises deal with the unprecedented amount of change in financial services imac legal

Financial services executive and lawyer Ian McDermott has launched a new law firm and compliance consultancy aimed at

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