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.

What's new

Regulation of digital financial product advice

ASIC has released a consultation paper and a draft Regulatory Guide on regulating digital financial product advice (also commonly known as robo-advice). 16-082MR, 21 March

Guidance on marketplace lending

ASIC has released guidance to help providers of marketplace (also known as 'peer-to-peer') lending products, including information about legal obligations. 16-081MR, 21 March

More financial services releases

Limited AFS licence - SMSF advice

Asic Logo Special Podcast 60X40

2 March 2016

From July 1 this year, accountants will need to have a limited AFS licence if they are providing SMSF advice. ASIC Commissioner Greg Tanzer talks about why this change is necessary and what it may mean for you.

Listen now or download

Last updated: 23/03/2016 03:05