Financial inquiry and future of financial advice (FOFA) changes on the way (Australia)

more+
less-
more+
less-

The Assistant Treasurer, Arthur Sinodinos, took the opportunity at the Association of Australian Financial Advisers’ National conference this month to announce the government will be undertaking a financial services inquiry. The Assistant Treasurer has described the inquiry as ‘an agent for growth – not a vehicle for regulation.’

The Assistant Treasurer also spoke of the government’s support of the principles of the FOFA reforms. However, he noted the government’s commitment to remove the ‘opt-in requirements’ and review the remuneration arrangements for insurance. Senator Sinodinos has flagged that the government will announce shortly the process by which it ‘will discuss, listen and work through the FOFA issues with stakeholders.’

We will keep you updated about any further announcements.

For the transcript of the Assistant Treasurer’s speech please click here.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© DLA Piper | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×