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?

Sign up to receive email updates from ASIC about Future of Financial Advice developments.

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

ASIC facilitates foreign financial service providers applying for exemptions

ASIC is clarifying the documentation foreign financial services providers should provide to it when applying for class order exemptions to conduct business in Australia to facilitate an easier application process.

15-051MR. 13 March

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