Government releases exposure draft for FOFA reforms

Explore:  FOFA Reforms

The Government has released the draft legislation and regulations to amend the FOFA reforms in accordance with the proposed changes announced by the Assistant Treasurer on 20 December 2013. 

As set out in the explanatory memorandum to the draft legislation, the amendments are intended to reduce compliance costs for the financial services industry. The Government intends to deal with time sensitive amendments by way of regulation with a view to changing the legislation at a later time.

Submissions on the draft legislation, regulations and explanatory material are due by 19 February 2014.

For more details 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.