ASIC, Treasury, AFCA & Other Submissions

Other Regulatory & Policy Change
The AFA is often called upon by a range of stakeholders, including Treasury, ASIC, AFCA, the Productivity Commission, ACCC, Austrac, Parliamentary Inquiries and other bodies to make submissions on proposed changes to legislation, regulations or regulatory guidance that impact the provision of financial advice.  Recent relevant submissions are included below:

24 July 2020 – AFA Submission: Cost Recovery Implementation Statement: ASIC industry funding model (2019-20)

11 March 2020 – AFA Submission on Guidance for the New Product Design and Distribution Obligations 

10 March 2020 – AFA Submission on Review of APES 230 Financial Planning Services

20 February 2020 – AFA Submission on Stamping Fee Exemption

1 November 2019 – AFA Submission on Unsolicited Telephone Sales and Revised RG38 Hawking Provisions

11 October 2019 – AFA Submission on Corporations Amendment (Design and Distribution Obligations) Regulations 2019

9 October 2019 – AFA Submission on ASIC Enforcement Review Taskforce

30 September 2019 – AFA Submission on Reforms to the Sale of Add-on Insurance Products

29 August 2019 – AFA Submission on Proposed Ban of Unsolicited telephone Sales (CP317)

15 August 2019 – Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019

9 August 2019 – ASIC CP 311 – Internal Dispute Resolution: Update to RG 165

7 August 2019 – ASIC CP 313 – Consultation on the Proposed Administration of ASIC’s New Product Intervention Power

1 August 2019 – Genuine Redundancy and Early Retirement Scheme Payments

15 July 2019 – AFA Submission – Inquiry into the Treasury Laws Amendment (Putting Members’ Interests First) Bill 2019

3 May 2019 – Proposed AFCA arrangements for Comparative Reporting of Complaint Data

26 April 2019 – ASIC Cost Recovery Implementation Statement

2 April 2019 – ASIC CP 308 – Review of RG 97 – Fees and Costs

1 March 2019 – Treasury Laws Amendment (Protecting Your Superannuation Package) Regulations 2019

1 March 2019 – Inquiry into the Resolution of Disputes with Financial Service Providers within the Justice System.

1 December 2017 – AFA Submission on Financial Literacy

17 November 2017 – Corporate Governance Requirements

17 November 2017 – Strengthening Penalties for Misconduct

17 November 2017 – AFA submission to Treasury – AFCA

1 November 2017 – ASIC Funding Model – Cost Recovery Implementation Statement

23 October 2017 – The Sale of add-on Insurance and Warranties through Caryard Intermediaries

4 October 2017 – ASIC’s Power to Ban Senior Officials in the Financial Sector

29 September 2017 – Putting Consumers First – Establishment of the Australian Financial Complaints Authority Bill

29 September 2017 – Improving Accountability and Member Outcomes in Superannuation – Choice and Salary Sacrificing

11 August 2017 – Improving Accountability and Member Outcomes in Superannuation.

31 July 2017 – ASIC – Example SoA for Life Insurance

28 July 2017 – Inspector General of Taxation – Review into the Future of the Tax Profession 

26 July 2017 – Treasury – Industry Codes in the Financial Sector

26 July 2017 – Treasury – Strengthening ASIC’s Licensing Powers

30 June 2017 – APES Board – APES 230 Post Implementation Review

28 June 2017 – Treasury – Compensation Schemes of Last Resort

21 June 2017 – AFA Submission – Improving dispute resolution in financial services

24 May 2017 – AFA Submission – ASIC’s proposal to refer banning order decisions to ‘Financial Services Panels’

19 May 2017 – AFA Submission – The Federal Government’s ASIC Enforcement Taskforce’s review of the breach reporting system

3 May 2017 – Further AFA Submission – Productivity Commission Study on Alternative Default Super Funds Allocation Models

26 April 2017 – AFA Submission – Improving Corporate Insolvency Laws

13 April 2017 – AFA Submission – Review of the Statutory Declarations Regulations 1993

20 March 2017 – AFA Submission – Financial Product Design and Distribution Obligations and ASIC’s Intervention Powers

10 March 2017 – AFA Submission – ASIC Supervisory Cost Recovery Levy Bill and Related Bills

10 March 2017 – AFA Submission – Consumer protection framework in the financial services sector

10 March 2017 – AFA Submission – Non-payment of Superannuation Guarantee Contributions 

3 March 2017 – AFA Submission – Australian Law Reform Commission’s proposals and questions about elder abuse

Please contact policy@afa.asn.au for the below documents.

23 November 2015 – Senate Economics Committee – The Economic Security of Women in Retirement 

19 Dec 2014 – AFA Submission to Treasury – Enhanced Register of Financial Advisers

5 December 2014 – AFA submission to the Inquiry on Scrutiny of Financial Advice

Please contact policy@afa.asn.au for the below documents 

19 November 2013 – AFA Submission – Advice on SMSFs – CP216

25 October 2013 – AFA Submission – Record Keeping

21 October 2013 – AFA Submission on the performance of ASIC

11 October 2013 – AFA Independent Review of FOS

12 July 2013 – AFA Treasury Response – Self Education Cap 

26 June 2013 – AFA Submission – Super Charter

13 May 2013 – AFA Treasury Response – Concessional Contributions Caps

8 May 2013 – AFA Treasury Response – Sustaining the Super Cont Concession

7 May 2013 – ASIC Submission – Managed Discretionary Accounts