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Issue 588, 8 December 2015 

Consultation on draft legislation proposes raising the professional standards of financial advisers 

On 3 December the Treasury released exposure draft legislation for consultation on measures to raise education, training and ethical standards for financial advisers, known as the Corporations Amendment (Professional Standards of Financial Advisers) Bill 2015 and Exposure Draft Explanatory Memorandum—copies of which can be found here. 

The draft legislation follows consultation on the Parliamentary Joint Committee proposals in relation to these matters and as announced in the Government’s Financial System Inquiry response. 

Under the proposed legislation: 

ASFA supports raising the educational and professional standards for financial advisers and will engage with members regarding a potential submission in response to the consultation. 

Please forward any comments you would like ASFA to consider for this submission to David Graus by close of business Friday 19 December. 

 

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