With the Streamlining Regulations now disallowed, a key question for the financial services industry will be what the future holds for dealings between advisers and their clients (see our previous blog for the consequences).
In a statement issued by the Finance Minister, Senator Mathias Cormann, the Government has indicated an intention to return its proposed
With continued public scrutiny and increased pressure on the financial advice industry, the Senate yesterday passed a motion disallowing the latest Future of Financial Advice Regulations (Streamlining Regulations). As a result, the original Future of Financial Advice (FOFA) reforms as enacted by the former Labor Government came into effect immediately.
ASIC’s