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

ASIC updates guidance as crowd-sourced funding regime extends to proprietary companies

ASIC has released updated regulatory guides to coincide with the extension of the crowd-sourced funding (CSF) framework to eligible proprietary companies. This starts on 19 October 2018. 18-314MR. 18 October

Guidance on code of ethics compliance schemes for financial advisers

ASIC has released guidance on its proposed approach to approving and overseeing compliance schemes for financial advisers. 18-290MR. 28 September

ASIC review finds unacceptable delays by financial institutions in reporting, addressing and remediating significant breaches

ASIC has identified serious, unacceptable delays in the time taken to identify, report and correct significant breaches of the law among Australia's most important financial institutions.  18-284MR. 25 September.

Financial firms must join AFCA now

ASIC warns all Australian financial services licensees, Australian credit licensees, authorised credit representatives and superannuation trustees that they must join the Australian Financial Complaints Authority (AFCA) now if they have not already done so. 18-275MR. 20 September

More financial services releases

ASIC industry funding

Last updated: 20/10/2014 12:00