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Financial Advisers – Have Your Say

Financial Advisers remember to have your say in January 2022…………..

2021 was a massive year of new regulation for financial advisers and their licensees with ‘Reg-October’ exhausting many of us.

There are currently 2 consultations with treasury open for comment that will impact financial advisers, you can be passive or actively have a say and let treasury know your opinion.

1.

Changes to education standards (01 February 2022)
Bringing in of an experience pathway for long-standing financial advisers;
Additional study for Professional Year advisers;
Tax Financial Adviser qualifications;

2.

Quality of Advice Review (04 February 2022)
Yes, another government review of financial advice. The review is to be completed by an independent reviewer and a report provided to government by 16 December 2022. This was a recommendation under the Hayne Financial Services Royal Commission.

Information of the consultations can be found on the https://lnkd.in/g5Gunw6E

3.

ASIC also has one relevant open consultation CP350 – Further consultation on consumer remediation closing 17 February 2022.

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