FSRA lobby puts its case to Canberra
A GROUP of industry associations lobbying the Federal Government to amend elements of the Financial Services Reform Act (FSRA) has now formally presented its case to Treasury during a recent meeting in Canberra.
TheFinancial Planning Association(FPA) manager policy and government relations Con Hristodoulidis and Boutique Financial Planning Principals Group (BFPPG) president Bruce Baker represented the group when both met with Government officials.
However, according to Hristodoulidis, the meeting is unlikely to lead to an instant overhauling of the FSRA, as it was merely a forum for both parties to meet and understand the issues of the other.
“However, now that formal dialogue has taken place in person, and we’ve provided some written submissions, there will be movement on it. I just think it will be a bit of a process to get to the end result.
Along with the FPA and BFPPG, Hristodoulidis and Baker were representing the Financial Planners Federation of Australia, the Association of Independently Owned Financial Planners andCPA Australiain a bid to amend those parts of the FSRA relating to statements of advice.
“We haven’t got any meetings scheduled at present. They’ve just promised to get back to us regarding some of the submissions that were presented,” Hristodoulidis says.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
