Date posted: 25/02/2020 2 min read

Submission to the Financial Services Royal Commission – Enhancing consumer protections and strengthening regulators

Trusted advisers are needed to look after the financial advice needs of everyday Australians.

Chartered Accountants ANZ provided feedback to the Financial Services Royal Commission on their proposals in relation to enhancing consumer protections and strengthening regulators.  CA ANZ believes there is, and will continue to be, a need for trusted advisers to look after the financial advice needs of everyday Australians. In our feedback we were mindful that any additional regulation will add to costs for our members and these costs often need to be passed on to consumers.

Our position is that Australians will be best served by retaining Chartered Accountants in the financial advice industry.

CA ANZ has been an active participant in many stakeholder round-tables in relation to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. 

Comments and recommendations of some of Commissioner Hayne’s findings were provided in our submission

The submission was lodged on 25 February 2020.