Cormann calls for FOFA delay
The Federal Opposition has called on the Government to delay the implementation of its Future of Financial Advice (FOFA) legislation.
Shadow Assistant Treasurer, Senator Mathias Cormann said such a delay was necessary to allow appropriate industry transition.
Addressing a financial services luncheon in Sydney, Cormann expressed concern about the workability of the existing 1 July 2012 implementation time table.
He said the opposition would be closely examining each aspect of the FOFA bills as they move through the Parliament.
Cormann said the Coaltion would be moving amendments to make FOFA better.
AUTHOR
Mike Taylor
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