Category Archives: AFA News

Personalised FASEA Exam Feedback now available

AFA News 15 April 2021. We understand the frustration some advisers have felt regarding the lack of tailored feedback provided after an unsuccessful exam attempt, and we have lobbied FASEA on your behalf. FASEA have taken steps to address this and unsuccessful exam candidates can now access individual feedback about the curriculum areas of underperformance […]

Increases to Superannuation Contribution Caps

AFA News 15 April 2021. From 1 July 2021, Australians will be able to put more into their Superannuation due to an indexation increase to the concessional and non-concessional contribution caps.  The transfer balance cap is also set to increase on 1 July 2021 due to indexation. This is the first increase, since it was […]

Claims Handling Licensing Requirement Update

Claims Handling Licensing Requirement Update AFA News 15 April 2021. On Thursday 8 April 2021, ASIC issued a media release encouraging participants in the claims handling market, who either need an AFSL or need to vary their existing AFLS, to apply prior to 9 May 2021.  Anyone wishing to continue to provide these claims handling […]

New Breach Reporting Regime from October 2021

AFA News 15 April 2021. The Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 was passed in both Houses of the Federal Parliament on 10 December 2020 and received Royal Assent one week later.  This Bill contains a range of measures, including the new mandatory reference checking obligation and the new breach reporting regime, […]

Annual Renewal Legislation Commences 1 July 2021

AFA News 15 April 2021. We have previously reported to members that the new Annual Renewal regime starts on 1 July 2021, however it is subject to a 12 month transition period and that licensees need to be aware of the new requirements and to prepare their strategy for the transition year. The AFA will […]