[wpseo_breadcrumb]

New Financial Services Reform Bill – Update

The latest FSR Bill (linked to the Hayne Royal Commission) was tabled in the House of Representatives on 24 June, and has already moved to second reading. Assuming it passes both Houses of parliament, it will come into effect 1 January 2022.

Key changes are:

Single Disciplinary Body to be implemented;
Removal of requirement to be registered with the Tax Practitioners Board (subject to meeting education requirements);
Registration for Financial Advisers individually and annually; and
Wind up of FASEA with responsibility moving to the Minister responsible for administering the Corporations Act and to ASIC;

We will provide further information in the coming weeks, including the proposed timelines and potential impacts. We will also be discussing this at the Good Governance Summit next month. If you have any questions in the meantime, please contact your Advice Coach.

In this Edition

· A message from Jaime

· Asset Class Return Forecasts Update

· WealthPortal Investment Menu Change

· Madison APL Changes

· The View

· New Financial Services Reform Bill – update

· Good Governance Summit

· Friday Afternoon Drinks

· Save the Date

· Upcoming Webinars

· Fee Consent Matrix for Fund Providers

· Australian Super – Annual Fee Consent

· FASEA Exam Update

· Kaplan Scholarship

· From our Corporate Partners

Go Back

[wpseo_breadcrumb]

New Financial Services Reform Bill – Update

Key changes are:

Single Disciplinary Body to be implemented;
Removal of requirement to be registered with the Tax Practitioners Board (subject to meeting education requirements);
Registration for Financial Advisers individually and annually; and
Wind up of FASEA with responsibility moving to the Minister responsible for administering the Corporations Act and to ASIC;