‘No rollback’: Govt defends bold but contentious advice reforms
Minister for Financial Services Stephen Jones said his unexpected plan to legislate much of the Quality of Advice Review and welcome banks and insurers back to the advice market is “absolutely consistent” with the landmark consumer protection reforms of the past decade. But the government faces criticism from the advice profession over its proposal of a two-tiered system based on a diploma-level sub-class bizarrely dubbed “qualified advice”.
Regulation
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