Key Senate crossbencher Nick Xenophon has taken to social media to outline his position on the FOFA amendment Bill and Senate Economics Legislation Committee report.
Despite being the only independent member of the Senate Economics Legislation Committee, Mr Xenophon did not offer an affirming or dissenting report on the FOFA amendment Bill, leading some mainstream media commentators and industry figures to take his silence as a sign of endorsement of the majority opinion.
However, earlier today Mr Xenophon issued a statement on Twitter confirming for the first time his position on FOFA and an indication of how his crucial vote may fall.
“Contrary to some commentary, I do not support the Government's #FoFA repeal legislation, nor the #Senate Economics Committee report,” Mr Xenophon wrote.
A spokesperson for Mr Xenophon’s office told ifa the South Australian Senator was simply “not in a position to lodge a dissenting report” and that those following closely should not draw the wrong conclusion.
Earlier today, ifa revealed the current thinking of incoming Senators Bob Day and David Leyonhjelm.
After Labor has secured a somewhat surprising landslide win in the federal election, the FSC CEO said this will now be a ...
Platform executives are pushing for more advice revenue to be invested in advice tech capabilities, labelling the ...
The licensee said around 80 per cent of eligible Brighter Super members have confirmed they will transition their advice ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin