Second Reading Speeches

Corporations Amendment (Future of Financial Advice) Bill 2012

Previous Citations
  • Corporations Amendment (Future of Financial Advice) Bill 2011
Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
43

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Summary

Amends the

Corporations Act 2001
to: require financial advisers to provide a fee disclosure statement to a client when charging advice fees for longer than 12 months; require financial advisers to provide a fee disclosure statement and a renewal notice to a client when charging advice fees for longer than 24 months; and extend the Australian Securities and Investments Commission’s licensing and banning powers used to supervise the financial services industry.