Nikki Hill’s Post

Minister for Financial Services Stephen Jones has called for the industry to remain supportive of his advice reform package, as time to get further legislation passed begins to run out. As the opposition ramps up its attacks on the Minister’s record, Jones has countered that the legal framework for advice had been “inadequately addressed and in many instances abandoned” by the Coalition. Stephen Jones #insurancesupersummit #dbfo #qar #financialadvisers #financialplanning #financialservices

In a prior update, I discussed developments at the NAIC, which impact insurance company investors and private credit fund sponsors investing in or structuring investments such as rated note feeders and collateralised fund obligations. Read my latest update on this topic in my new LawFlash here:

In the latest Professions and Financial Lines Brief, Nick Read and I discuss the approach to the interpretation of insurance policies following the Court of Appeal judgment in Bellini (N/E) Ltd v Brit UW Ltd (Insurers) [2024]. The judgment has illustrated that when interpreting an insurance policy, the court will only interfere to correct an error if: (i) there is a clear mistake on the face of the instrument; and (ii) it is clear what correction ought to be made to cure that mistake. The Brief also considers recent case law on the topics of: SEC enforcement action against investment advisers for AI-washing, the application of section 11 of the Insurance Act 2015 to a breach of warranty and the importance of insurance policy wordings. https://lnkd.in/eJGrvezk

In an environment of M&A, Chartered Accountants Australia and New Zealand (CA ANZ) has stated any company looking to acquire an advice firm should be prepared to bear responsibility for any compensation to aggrieved clients without relying on the CSLR. https://lnkd.in/ezyWg8Xz

Take a look at the IRALOGIX take on the delay of the New Fiduciary Rule.

For anyone wondering about the new fiduciary rule and the current status of PTE 2020-02, read on!

Many people are told by super funds, insurance companies, financial advisors and friends that they don’t need a lawyer to pursue a TPD claim. We’d like to first point out that all super funds and insurers use lawyers themselves to provide them with advice about the strategy to deal with your claim. So, if there are any issues or potential loopholes with your claim, it’s important that you understand that the insurer and super fund will use lawyers, and if you don’t have a lawyer, you could be at a disadvantage. In this blog, we look at some of the common issues with TPD claims where engaging a lawyer sooner rather than later would be a good idea. https://bit.ly/31Yf5fA #superandinsurancelaw #tpdclaims #incomeprotectionclaims #nowinnofee

Does your family business planning need structure? FLPs and FLLCs can be successful wealth transfer vehicles for families.  Family Limited Partnerships (FLPs) and Family Limited Liability Companies (FLLCs) have proven to be excellent ways to: ⭐️ Centralize the management of assets 🌟 Protect against creditors ⭐️ Reduce administration expenses of investments 🌟 Expose younger family members to the investment/management of assets Those considering a FLP or FLLC should proceed with caution and with the consult with specialized legal counsel. Discover whether or not these options are right for your family: https://bit.ly/3Tzohz8 #ComericaWealthManagement #Comerica #WealthPlanning #FamilyBusiness #FLP #FLLC

Does your family business planning need structure? FLPs and FLLCs can be successful wealth transfer vehicles for families.  Family Limited Partnerships (FLPs) and Family Limited Liability Companies (FLLCs) have proven to be excellent ways to: ⭐️ Centralize the management of assets 🌟 Protect against creditors ⭐️ Reduce administration expenses of investments 🌟 Expose younger family members to the investment/management of assets Those considering a FLP or FLLC should proceed with caution and with the consult with specialized legal counsel. Discover whether or not these options are right for your family: https://bit.ly/3Tzohz8 #ComericaWealthManagement #Comerica #WealthPlanning #FamilyBusiness #FLP #FLLC

Does your family business planning need structure? FLPs and FLLCs can be successful wealth transfer vehicles for families.  Family Limited Partnerships (FLPs) and Family Limited Liability Companies (FLLCs) have proven to be excellent ways to: ⭐️ Centralize the management of assets 🌟 Protect against creditors ⭐️ Reduce administration expenses of investments 🌟 Expose younger family members to the investment/management of assets Those considering a FLP or FLLC should proceed with caution and with the consult with specialized legal counsel. Discover whether or not these options are right for your family: https://bit.ly/3Tzohz8 #ComericaWealthManagement #Comerica #WealthPlanning #FamilyBusiness #FLP #FLLC