The Financial Sector Reform (Hayne Royal Commission Response—Better Advice) Bill 2021 establishes a single disciplinary body for financial advisers and requires that all financial advisers who provide personal financial advice to retail clients be registered. Background.
Treasury has released a policy paper seeking feedback on two matters which will be included in regulations to support the single disciplinary body namely:
- the circumstances when ASIC must convene the single disciplinary body to determine a disciplinary matter; and
- the types of administrative sanctions made against a financial adviser that must be included on the Financial Advisers’ Register.
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Author: David Jacobson
Principal, Bright Corporate Law
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.