Regulation
DBFO Tranche 2 arrives, swapping SOAs for ‘CARs’
The Albanese government has released draft law on Tranche 2 of Delivering Better Financial Outcomes, unveiling the replacement of Statements of Advice with the new "Client Advice Record" required to be kept on file but not issued to clients unless requested. The more controversial changes to the Best Interests Duty and introduction of a “new class of adviser” were left out, as foreshadowed by Professional Planner.
Beata KuczynskaMarch 21, 2025