Phil Anderson will present a detailed breakdown of the changes that will be required to implement the three key components of the Financial Sector Reform (Hayne Royal Commission Response No. 2) Bill 2020, that is due to commence from 1 July 2021, including:
• Annual Renewal – Contents of the New FDS, Timeframes, Consent forms, other obligations and Transition Arrangements.
• Disclosure of lack of independence
• New rules on charging advice fees from superannuation accounts.
This Bill addresses key Royal Commission recommendations and now that it has been passed in the Parliament and is the law, it is important that we look at the requirements in detail.
Phil will also discuss the guidance and templates recently issued by ASIC.
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