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A retirement fund has been reprimanded by the Deputy Pension Funds Adjudicator for withholding payment of a withdrawal benefit without affording the member an opportunity to make representations to it as to why the benefit should not be withheld.
The COFI Bill has sparked significant concern among independent financial advisors (IFAs), and many smaller advisory firms have been told that they’ll struggle to adapt. However, with the right preparation, IFAs can successfully adjust to COFI’s regulatory changes.
Amid the many facets of COFI that will reshape the financial industry, a big focus is the new licensing framework, which is a substantial departure from the existing system.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?