While APRA’s proposed hybrid phase out is designed to improve the resilience of the financial system, it will inevitably impact investors and the strategic plans that some advisers have laid out. Navigating the transition will require forethought.
Advisers need to be in lockstep with what is an ever-changing slate of priorities for the corporate regulator, and right now that means ticking a particular set of boxes related to consumer protection.
Regulatory change for advisers has, regrettably, become more of a constant than the exception. But with the minister’s QAR reforms laid before us, a concentrated period of change looms.
Advisers should take a proactive approach to compliance, which can enhance the reputation of their firm and reduce the risk of regulatory enforcement action according to Mintegrity.
