The Federal Opposition has declared it will move quickly to repeal the worst elements of the Future of Financial Advice (FOFA) regime.
The Opposition spokesman on financial services, Senator Mathias Cormann, said the necessary legislation had already been drafted by the Coalition parties.
Addressing the Financial Services Council conference on the Gold Coast, Cormann specifically rejected claims by the Minister for Financial Services and Superannuation, Bill Shorten, that there would be few changes to the Government's reforms.
Cormann said the Opposition had cemented 16 changes to FOFA in Coalition policy, and they would be delivered.
