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The regulator's investigation into managed discretionary accounts may be on hold, but financial services lawyers report an uptick in scrutiny of vertical integrated practices in the sector.
Bollen said: “The term wholesale needs to be updated, it was created in the early 90s and then included in the Corporations Act in 2001. It is a matter for the Government to decide whether it needs to be updated but there has been a lot of change since it was introduced and it is time for it to be reconsidered. “Mayfair was a clear case of [a firm] targeting unsophisticated, vulnerable, wholesale consumers who were seeking a regular income and higher returns. It had a very aggressive online presence via metadata, sponsored links and Google searches in an attempt to divert investors who w...
Professional Planner events were experienced through a wildly different lens this year as the industry pivoted (didn’t we hear that word a lot?) from live in-person seminars to online webinars. Zoom fatigue notwithstanding, the switch to online events was a resounding success not only for us but for the industry as a whole. People have embraced the convenience and the production quality has improved markedly across the board. As always, the success of our events has been due to not only the hard work and talent of our events team, but the willingness of our delegates, speakers and sponsors ...