Brad Fox

The Association of Financial Advisers (AFA) welcomes the release yesterday of draft amendments to the Future of Financial Advice (FOFA) legislation for public consultation.

AFA CEO, Brad Fox said, “We are very pleased to receive the drafts in the timeframes that the Minister has previously outlined. We look forward to working through the detail, consulting with our members and our FoFA Implementation Working Group, and then making a submission to the Government.”

Mr Fox said that at first glance it appears that these changes are in line with the intent expressed by the Minister and retain appropriate consumer protection as well as enhancements that reduce regulatory overreach in the delivery of financial advice.

“We will make further comment after a comprehensive review has been undertaken,” he said.

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