Holley Nethercote: What will 2015 hold for financial advisers? Part I

The FOFA reforms have been the biggest story in financial regulation over the last few years.  The change of government and subsequent rounds of amendment and repeal left the industry in a state of uncertainty.

We expect further guidance from ASIC on the FOFA reforms.  As you would recall, the Abbot Government’s amendments to FOFA were disallowed by the Senate last November, reinstating the Gillard Government’s reforms.  Subsequent regulations reintroduced the grandfathering provisions, but no moves have been made to reintroduce any other elements of the Abbott Government’s changes.

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