The Future of Financial Advice website provides information on the implementation process, answers to frequently asked questions, and enables the public to provide feedback about the financial advice reforms announced on 26 April.

The Future of Financial Advice reform package includes such measures as a ban on conflicted remuneration structures, including commissions and any form of volume based payment to financial advisers; the introduction of a statutory fiduciary duty requiring advisers to act in the best interests of their clients; and the introduction of a new adviser charging regime.

The reforms will apply from 1 July 2012.