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Advice 2.0

Review of the quality of financial advice: Draft terms of reference

  Published: 02 Feb 2022

The draft terms of reference are wide and flexible. ISA is, however, concerned that the focus appears to be on reducing the costs of advice through streamlining regulation without regard to the impact that may have on the quality of advice and critical consumer protections.

Critical issues that prompted recent reforms in the sector - and the poor conduct identified by the Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry - also do not appear to be referenced.

*The above material, whilst correct at the time of publication may include references or statements which are no longer current.

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