ASIC shows hand on best interest, scaled advice

The Australian Securities and Investments Commission has released consultation papers containing proposed guidance for two aspects of the Future of Financial Advice (FoFA) reforms – scaled advice and the best interests duty.

“FoFA contains significant reforms intended to bring about real changes in the way financial advice is provided,” said ASIC Chairman Greg Medcraft.

“These measures aim to improve the standard of adviser conduct and improve engagement by retail clients with advisers and advice.”

For ASIC’s proposed guidance on the best interests duty (CP 182), click here.

For ASIC’s proposed guidance on scaled advice (CP 183), click here.

 

 

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Why the super tax changes will reinforce the strategic case for SMSFs

Why the super tax changes will reinforce the strategic case for SMSFs

When Div 296 passed into law in March 2026, the headline reaction was predictable: a new tax on earnings attributable to superannuation balances above $3 million was framed as an assault on wealthy members. But Arthur Marusevich writes that changes from the Federal Budget show that SMSFs may occupy a stronger position than before.

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