Insurance advice (fpc004) assignment 1

Identify and briefly explain the purpose of three (3) key pieces of legislation regulating the insurance industry that were already in force prior to the global financial crisis.
Identify events or key times in the advice process up until the issue of a policy of life insurance when an adviser should take the opportunity to remind a client of their duty of disclosure.
There are eight (8) key components of the Corporations Act identified in your notes. Explain briefly, in your own words, how four (4) of these play a role in maintaining or driving appropriate conduct of advisers to ensure positive outcomes for clients.
What are the key recommendations of the Ripoll Enquiry?
Briefly describe the key Future of Financial Advice (FOFA) reforms that became mandatory on 1 July 2013.
Briefly describe the exemption for insurance advice provided under FOFA.
What was the purpose of ASIC Report 413 and what were its findings?
The Trowbridge enquiry lead to recent life insurance reforms. What was the purpose of the enquiry and what were the key outcomes/recommendations?
Select one of the contemporary advice issues discussed in Topic 3, Section 3 and evaluate how this issue could influence the way insurance advice is provided to clients. You can select a broad issue or a specific element from a review that you believe could have a significant impact. 

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