Life risk advisers needed to start considering the practical legal and compliance considerations of the Life Insurance Framework (LIF) reforms ahead of their introduction, according to a legal specialist.
Although advisers would not be able to implement any hard solutions before the LIF outcomes were legislated, they still needed to review their own practices to identify where they might need to make adjustments, imac legal and compliance principal lawyer Ian McDermott told financialobserver. “The important thing the licensees need to do is get working groups together to look through and start documenting all the potential issues [arising from the LIF], and identify gaps between current and projected arrangements,” McDermott said.
Read the full article in Financial Observer
Like politicians, the prospect of completely re-written financial services laws promises so much. But will…
If cybersecurity hasn’t shot up towards the top of the list of identified risks in…
It should be such an easy thing to do – after all, it’s what financial…
Download a PDF of our latest Regulatory Wrap here. Summary: Westpac Loses Personal Advice Case…
INSIGHT LINES how to nail advice reviews We have, over the years, reviewed thousands…
The Role: Financial services lawyer (plus compliance consulting) Permanent part-time (min. 0.6 FTE) or FULLTIME…