Regulators & Industry Stakeholders

The AFA works closely with a range of industry stakeholders and regulatory authorities to ensure the interests of AFA members and their clients are represented.

 

Industry Regulatory Authorities

The Australian Securities and Investments Commissions (ASIC)

The Australian Securities and Investments Commissions (ASIC) enforces and regulates company and financial services laws to protect consumers, investors and creditors. An independent Australian government body, ASIC is responsible for Financial Services Regulation (FSR). The AFA has a close working relationship with ASIC.

For more information visit www.asic.gov.au

 

Australian Tax Office (ATO)

Australian Tax Office (ATO) makes many rulings that affect financial advisers and their clients. The AFA works closely with the ATO to ensure the interests of members are represented.

For information about tax rulings and requirements visit the ATO website at www.ato.gov.au

 

Industry Stakeholders

The Financial Services Council (FSC)

The Financial Services Council (FSC) is a national not-for-profit organisation that represents the retail and wholesale funds management, superannuation and life insurance industries.

For more information about FSC visit http://www.fsc.org.au

 

Tax Practitioners Board

Following the commencement of the application of the Tax Agent Services Act regime to financial advisers on 1 July 2014, financial advisers now have a new regulator in the Tax Practitioners Board.

The Tax Practitioners Board (TPB) is a national body responsible for the registration and regulation of tax agents, BAS agents and tax (financial) advisers. The TPB is also responsible for ensuring compliance with the Tax Agent Services Act 2009 (TASA), including the Code of Professional Conduct (Code).  As we work through the current transition arrangements the TPB will be an important stakeholder.  Under the TASA regime and the oversight by the TPB, financial advisers wishing to be registered with the TPB will need to address important issues such as education, experience, ongoing professional development and compliance with the TPB Code of Professional Conduct.  The AFA is a recognised tax (financial) adviser association, which has particular benefits for our members.

 

Corporate Super Specialist Alliance (CSSA)

The AFA has a close working relationship with the Corporate Super Specialist Alliance (CSSA), the association that represents and advocates for corporate superannuation advisers and practices that specialise in Corporate Superannuation advice and services.