The second round of public hearings of the Financial Services Royal Commission will be held from Monday 16 April to Friday 27 April 2018.
The hearings will consider the conduct of financial services entities that provide financial advice to consumers, including the treatment of consumers, compliance with the law and community standards and expectations, and the sufficiency of the current legal and regulatory structure.
UPDATE: The Commission has published Background Paper 6 (Part A):Some Features of the Australian Financial Planning Industry together with Background Paper 6 (Part B): Education and Training Requirements for Financial Advisers and Background Paper 6 (Part C): Financial Products Available to Retail Investors. It has also published Background Paper 7: Legal Framework for the Provision of Financial Advice and Sale of Financial Products to Australian Households.
Background paper 8 – Key Reforms in the regulation of financial advice is now available on the Royal Commission website.
The Commission intends to deal with financial advice for the purposes of the public hearings by reference to the following case studies:
| Topic | Case Studies | |
| 1. | Fees for no service |
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| 2. | Investment platform fees |
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| 3. | Inappropriate financial advice |
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| 4. | Improper conduct by financial advisers |
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| 5. | The disciplinary regime for the financial advice profession |
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