Future Changes to Financial Advice

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 Future … Continue Reading

Back to the Future: Disallowance of FOFA Streamlining Regulations

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 Facilitative Approach Recognising the … Continue Reading