The Government will extend the implementation of the Future of Financial Advice changes until 1 July, 2013.
The Minister for Financial Services, Bill Shorten, said the reforms would commence from 1 July, but applications of the provisions would be voluntary until a year later, with mandatory application starting from the 1 July, 2013, date.
He said this meant that any business that wanted to start complying with the reforms from 1 July, 2012, would have the opportunity to elect to do so.
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