Future of Financial Advice (FOFA) Update – the plot thickens.

On 24 November the Assistant Treasurer, Bill Shorten unveiled further FOFA reforms, introducing them into the House of Representatives. 

As expected, the Bill contains information on: 

• best interests obligations;
• ban on conflicted remuneration; and
• ban on volume based remuneration.

We’ll keep you in the loop with further updates and will post a mindmap outlining the Bill shortly.

Our blog posts and mindmaps on earlier stages of the reforms can be found here. 

Author: Sarah Holley 
Lawyer: Melanie Sherrin 

FOFA part 2, tranche 1 by Holley Nethercote Commercial Lawyers is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 2.5 Australia Licence.

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