Date posted: 19/04/2022

Banking Royal Commission and other regulatory issues

Stay up to date with broader developments and advocacy activities impacting members who practice in financial advice in Australia. For regulatory reform developments and FASEA updates see our separate dedicated pages.

Webinar: ALRC Simplification of the Corps Act

The Australian Law Review Commission (ALRC) has been tasked with simplifying and rationalising the corporations and financial services legislation. This sharing knowledge webinar was broadcast live on 10 March 2022

Submission on Remake of sunsetting Tax Agent Services Regulations 2009

CA ANZ and IPA welcome the opportunity to comment on the remaking of the sunsetting Tax Agent Service Regulations 2009.

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Submission to ALRC Review of the legislative framework for corporations and financial services regulation

Report A: Summary – Financial Services Legislation.

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Submission on AUSTRAC guidance for source of funds and source of wealth

CA ANZ submitted that the guidance is not required as existing customer due diligence and reporting obligations address the concerns raised.

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Submission on the first report from the inquiry into financial services legislation.

CA ANZ supports the Australian Law Review Commission (ALRC) initiatives, in proposing changes to simplify the Corporations Act and its associated complex regulations, providing certainty and clarity to industry participants that would hopefully assist in reducing unnecessary regulatory cost and red tape and improving access to advice by consumers. We endorse the ALRC approach involving professional associations such as CA ANZ ensuring reforms include practical market intelligence which will be of benefit to consumers.

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Education Standards for Financial Advisers – Policy Paper (December 2021)

CA ANZ’s views on the proposed changes to education standards for financial advisers.

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New financial advice reforms begin in October

Regulations resulting from the Hayne Royal Commission will come into effect from October.

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Submission on Compensation Scheme of Last Resort

CA ANZ’s submission on the proposed establishment of a financial services compensation scheme of last resort (CSLR) highlights a number of issues.

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Submission on Financial Sector Reform Hayne Royal Commission Response Better Advice Bill 2021

Revised bill to establish a new single disciplinary body for advisers, the transfer of FASEA responsibilities to ASIC and Treasury, and the removal of TFAs from the TPB and transfer to ASIC.

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A new disciplinary system is being proposed for financial advisers

Changes include a new Single Disciplinary Body to whom all advisers will be registered, the folding of FASEA into ASIC and Treasury and the removal of TFAs to ASIC.

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Earlier items

Contact us

Members are invited to provide feedback on professionalising the financial advice industry and improving consumer outcomes.

Contact the Financial Advice team