The corporate regulator has announced it will extend the time advisers have to provide clients with a statement of advice (SOA) relating to superannuation.
In an instrument issued on Friday and distributed to the press today, ASIC has confirmed it will provide relief to financial advisers, giving them up to 30 days to provide an SOA for personal advice provided to retail clients about a superannuation product.
The relief will apply to superannuation-related personal advice where the advice is requested and provided before 1 July 2017.
“Financial advisers are still required to meet all other obligations under the Corporations Act, including the conduct and disclosure obligations, in providing such advice,” said a statement from ASIC.
“The relief is intended to assist consumers to access advice about the changes in the superannuation laws during this unusually busy period, while maintaining consumer protection.”
The stockbroking association said Labor’s last-minute release of draft legislation for the Delivering Better Financial ...
Just days out from the federal election, hinging on the outcome is an under-the-radar change that has the potential to ...
The cyber attack on super funds earlier this month is far from the end of the danger for clients, with an expert arguing ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin