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"IFS financial planners providing advice on the establishment or closure of self-managed superannuation funds “which was outside the scope of their authorisation by IFS" - and all they get is counselling?? Haven't they breached their employment agreement, worse than this haven't they breached their Licensee obligations and ASIC Guidelines by giving advice that they were NOT licensed to give? Why is this not reported to the Professional Associations, why is it not reported to ASIC? Why is the Licensee (who is responsible for advice given when not authorised to do so) held to account?????
Double standards and it's interesting the Royal Commission doesn't grill the CEO's of Industry Funds and CEO of ISA on TV for the public to see.