Legislative Updates Archives

Will it affect you? FoFA Roll-back 2014

FoFA Roll-back 2014. When the government unveiled the details of their FoFA overhaul days before Christmas, there was not a lot of media fuss. Few in the industry appeared to fully comprehend the potentially profound scope the changes would make. Since releasing the exposure draft regulation on January 29, the noise surrounding the issue has been anything but quiet. The changes have come under intense scrutiny and evoked much commentary amongst industry professionals. The main conversation centres on a fear that [...]

NEW FINANCIAL REFORMS – WHAT’S THE STORY?

There has been much talk (and a lot of noise) surrounding the Future of Financial Advice (FOFA) reforms that officially came into effect as of July 1. For those of you still unclear on ‘what its all about’, we have provided a short summary below. In short, these reforms are aimed at tightening the duties and payment arrangements of financial planners such as their commission structures and the types of products they are allowed to recommend customers. Going forward planners will [...]