Colonial First State relaunches regulatory website
Colonial First State (CFS) has relaunched its regulatory reforms website for advisers in what it says is a response to regulatory changes impacting the financial advice industry.
Commenting on the relaunch last week, CFS executive general manager Linda Elkins said the site had been originally launched 18 months ago as a tool to keep advisers up to date with the Future of Financial Advice (FOFA) and Stronger Super changes.
"With the finalisation of further legislation and the release of some regulatory guidance, we now have more clarity and are able to provide our advisers with much more information than we were 18 months ago," she said.
Elkins said the website, 'Understanding Regulatory Reforms', had been enhanced to include:
- An overview of the FOFA reforms impacting Colonial First State's business: opt-in; fee disclosure; best interest duty; ban on conflicted remuneration; and soft dollar remuneration;
- An overview of the Stronger Super reforms and impacts: MySuper; SuperStream; SMSFs and Governance;
- Adviser obligations;
- Colonial First State's product response and how advisers will be supported; and
- Industry news and updates, including updates from Colonial First State's FirstTech team.
"Over the coming months we will be in continuous dialogue with our advisers as they seek further clarity on what the reforms mean and how we will be supporting them through the changes," she said.
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