The accommodation/compromise/clawback of standards help the Industry funds. Look at the boards of those funds, any familiar names? Think unions and ex Labor pollies.
After gutting the industry of experienced advisers, the solution to all the problems is to have salespeople give advice. The standard of being called “qualified” must be in sales- but not advice.
Using that terminology is misleading and the Minister needs to reconsider who he is serving.
Disgraceful and shameful.