MDA changes – what, when and who?
How time has flown! We’re 6 months into the revised MDA services framework, but what with Christmas and all, we’ve not seen much evidence of MDA providers changing their processes.
But the first deadline – for full service MDA providers – is approaching, people. It’s time to get your skates on!
Here’s the first of 4 blogs – this one looks at what full service MDA providers and financial advisers who recommend those MDA services need to do before 1 October 2017.
NB: MDA providers who operate through a regulated platform have another 18 months before they need to operate in line with the changed requirements. But because you need to apply for a licence variation and it can take up to 9 months for variations to be processed by ASIC, you’d be well advised to start soon.
By Claire Wivell Plater