Future of Financial Advice reforms

Overview of FOFA reforms

Commencement of FOFA reforms

ASIC's facilitative approach to the new regime

Further background to FOFA reforms

ASIC consultation and guidance on specific FOFA topics including:
  • ASIC powers
  • Conflicted remuneration
  • Best interests duty
  • Scaled advice
  • Fees disclosure
  • Codes approval
  • Replacement of accountants’ exemption with a new limited Australian financial services licence.
  • Releases ASIC has issued on FOFA.


Need to know more?

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ASIC has produced regulatory guidance to help industry and other stakeholders understand the new FOFA requirements and how they can comply with them. If after reading our regulatory guidance you still have general questions about the FOFA obligations or ASIC's implementation plans, you can email the FOFA team.

Please note that ASIC cannot provide legal advice. If you have questions about how FOFA applies to your specific business or circumstances we will have to recommend that you obtain your own legal advice.

What's new

Updated guidance on fee and cost disclosure requirements

We have released updated guidance on fee and cost disclosure for trustees of superannuation funds and responsible entities of managed funds and other managed investment schemes. 15-350MR. 24 November

More financial services releases

Breach reporting

Pk Breach Reporting

ASIC Deputy Chairman Peter Kell talks about breach reporting.

Watch the video

Last updated: 02/02/2015 05:13