SPAA partners with UN investor advocacy committee
The SMSF Professionals' Association of Australia (SPAA) has become a partner of the United Nations Convention of Independent Financial Advisers (CIFA).
CIFA, which manages the United Nations Charter of the Protection of Investor Rights, was set up to support the interests of investors and independent financial advice.
CIFA approached SPAA 18 months ago, according to SPAA chief executive Andrea Slattery, who said SPAA was the first Australian organisation to become a partner, joining 53 other financial services organisations globally.
The Australian Securities and Investment Commission (ASIC) approved the partnership after ensuring the UN's goals and CIFA's objectives fitted with the current legislative regime in Australia, Slattery said.
"CIFA is a non-government organisation that has special consultative status with the United Nations Economic and Social Council [ECOSOC], which is the main forum for discussing international economic and social issues and formulating policy recommendations for UN member states.
"By becoming the first Australian representative and partnering with CIFA, SPAA will be at the forefront of the debate on financial services issues as they relate to professional financial advice and investor protection around the globe," Slattery said.
"It will give SPAA a window-seat to what is happening overseas in the financial advisory industry, and the valuable insights it provides us will benefit our members and the industry."
CIFA was established in 2001 and represents approximately 300,000 financial advisers from 40 countries.
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