Govt’s Murray inquiry response released

T

he Coalition government has released its response the final report of the Financial System Inquiry, accepting all but one of the recommendations.

"The Government does not agree with the Inquiry’s recommendation to prohibit limited recourse borrowing arrangements by superannuation funds. While the Government notes that there are anecdotal concerns about limited recourse borrowing arrangements, at this time the Government does not consider the data sufficient to justify significant policy intervention," the report said.

The government's response to the FSI comes more than 10 months after the release of the final report in December 2014.

ifa has summarised the government's response to raising adviser professional standards, the Life Insurance Framework and super system objectives.