FSRA lobby puts its case to Canberra
A GROUP of industry associations lobbying the Federal Government to amend elements of the Financial Services Reform Act (FSRA) has now formally presented its case to Treasury during a recent meeting in Canberra.
TheFinancial Planning Association(FPA) manager policy and government relations Con Hristodoulidis and Boutique Financial Planning Principals Group (BFPPG) president Bruce Baker represented the group when both met with Government officials.
However, according to Hristodoulidis, the meeting is unlikely to lead to an instant overhauling of the FSRA, as it was merely a forum for both parties to meet and understand the issues of the other.
“However, now that formal dialogue has taken place in person, and we’ve provided some written submissions, there will be movement on it. I just think it will be a bit of a process to get to the end result.
Along with the FPA and BFPPG, Hristodoulidis and Baker were representing the Financial Planners Federation of Australia, the Association of Independently Owned Financial Planners andCPA Australiain a bid to amend those parts of the FSRA relating to statements of advice.
“We haven’t got any meetings scheduled at present. They’ve just promised to get back to us regarding some of the submissions that were presented,” Hristodoulidis says.
Recommended for you
Professional services group AZ NGA has made its first acquisition since announcing a $240 million strategic partnership with US manager Oaktree Capital Management in September.
As Insignia Financial looks to bolster its two financial advice businesses, Shadforth and Bridges, CEO Scott Hartley describes to Money Management how the firm will achieve these strategic growth plans.
Centrepoint Alliance says it is “just getting started” as it looks to drive growth via expanding all three streams of advisers within the business.
AFCA’s latest statistics have shed light on which of the major licensees recorded the most consumer complaints in the last financial year.
