FASEA

It was a busy day for the Federal Government, announcing the proposal to disband FASEA, introduce lack of independence disclosure requirements and then finally, introduce a new fee disclosure regime. Advisers had been hit with an increasingly complicated set of rules when it came to receiving fee payments from ongoing clients. A combination of grandfathering,…

Whether it’s due to the long delay on Parliamentary sittings or the realisation that financial advisers had become regulatory gymnasts, it seems the tide is starting to turn on financial advice. The establishment of the Tax Practitioners Board (TPB) and requirements for any financial advisers who provided ‘tax’ advice to be registered was no doubt…

It’s been a busy few years for the financial advice industry and its regulators, including the Australian Securities and Investments Commission (ASIC). Yet if the past week is anything to go by, things are only likely to be get busier in 2021. November has seen a series of announcements, submissions and potentially wide-ranging changes to…