The Corporations Amendment (Future of Financial Advice) Bill 2011 and the Corporations Amendment (Further Future of Financial Advice Measures) Bill 2011 have been passed by the Senate, with amendments to permit a transition period until 1 July 2013.
The Bills will be returned to the House of Representatives to approve the amendments.
UPDATE 25 June: House of Representatives agreed to Senate amendments. Bills are awaiting Royal Assent.
UPDATE 3 July: The Bills received Royal Assent on 27 June
Download the Corporations Amendment (Future of Financial Advice) Act 2011 and the Corporations Amendment (Further Future of Financial Advice Measures) Act 2011
The Government is consulting on whether the term “financial planner” or “adviser” should be defined in the Corporations Act.
