ifa understands advice industry lobbyists are hoping to convince One Nation senator Malcolm Roberts to reverse his support of Centre Alliance senator Rex Patrick’s amendment. One Nation’s Pauline Hanson voted for the government’s motion not to accept the amendment earlier today in the Senate, but the motion was still defeated 34-32.
If Mr Roberts withdraws his support, a motion not to accept the amendment would be supported with a tied vote of 33, leaving the bill able to be passed through both houses.
If the Senate insists on the amendment a second time, the bill cannot be voted on any further unless section 57 of the constitution is triggered and both houses of Parliament are dissolved.
UPDATE: The bill has returned to the House of Representatives a second time late this afternoon, and will be debated again in the Senate tomorrow.
Wonder if a Regulatory Impact Statement was done? Or are these not applicable to the financial services industry?
The Government has let down a lot on this issue, I think we all know that. I’ve actually been quite impressed with the FPA’s efforts on helping advisers through this difficult process, which surprised me. There still seems to be merit in membership, especially for the younger members of the profession.
You cant be serious re the FPA Amanda…….
‘advice industry lobbyists’ if they have anything to do with the FPA then they wont be taken seriously anyway
If this gets through…bradbury eat ya heart out mate
Hahahahahahahahahahahaha what a FARCEA
Why the industry is dead it is about politics Ask the senator to do an soa on his decision and in the old days best interest working paper .
Why cling onto hope as frail as this? Sit the exam rather than having a fool’s hope.
Do any of these fools understand how despicable this is. The people of Australia are sick and tired of been used as poltical pawns. Lives are in the balance. Mental health is a serious issue in this industry with almost 30 advisers having taken their lives. If these people were of issue before, treating them with contemp pushed them over the edge. The Australian parliament needs integrity hon3sty trustworthiness and fairness applied. Oh funny then thats some of these so called values of FASEA ram down our throats. Grow up you bufoons in parliament and for once in your life do right by the people in this country. You are proving that incompetence in politics exist, eroding confidence in what you do. We will not forget when you are facing election. Shame on you all. Give us more of your damn arrogance with your behavior and we will react with fury by removing you.
Any update? This is huge for advisers.
the FPA should pay for the vote – they have the money in the bank. LOL
called a tax deductible political donation.