Information flow changes course

Fresh off the back of the alienation of personal services income legislation and the Financial Services Reform Bill (FSRB), the financial services industry has yet another legislative amendment to contend with.

The Privacy Amendment (Private Sector) Act 2000 passed by the Federal Government last December will come into effect on 22 December, 2001.

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The Act will create a stricter environment for the use and movement of information, causing planners to review methods and processes used in client relationships.

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