Date posted: 28/09/2022

Submission on Quality of Advice Review Proposal response

CA ANZ comments on Quality of Advice Review Consultation paper - Proposals for Reform

In brief

  • CA ANZ agrees that advisers should be able to provide to personal advice to their clients without having to comply with all the obligations that currently apply to the provision of personal advice
  • CA ANZ agrees that the concept of ‘general advice’ should be removed from Chapter 7 of the Corporations Act
  • CA ANZ agrees that the proposed ‘good advice’ obligation will make it easier to provide limited advice

Chartered Accountants Australia and New Zealand (CA ANZ) has long advocated for industry reform to ensure that more consumers are able to access high quality, ethical and professional financial advice.

We welcome the opportunity to comment on this Consultation Paper. CA ANZ’s detailed comments are contained in the attached document using the Quality of Advice Review template as advised.