CEO Update

Has anyone forgotten how to knot a tie? I know my feet are not ready for high heels again, but it’s back to the office for many of us (double vaxxed of course).

There is a fascinating convergence – unlikely and surely unintended – of several of the brightest minds in our Parliament currently examining the influence on our economy of Australia’s biggest superannuation funds and the world’s largest fund managers. 

BREAKING DDO NEWS: Nil complaints reports will be dropped; DDO won’t apply to employers issuing staff with default super; the personal advice exemption is being fixed. We’ve advocated strongly for this red tape to be removed, and welcome these amendments which will assist the efficient start of the mandatory regime on 5 October.  ASIC insiders are calling October 5 “Black Tuesday.” For FSC members and other financial services firms working around the clock to meet the deadline for several major new legal regimes, the humour is very dark indeed. 

Sydney, well and truly locked down, now understands what our friends and colleagues in Melbourne went through, second time round. Different governments, differently timed COVID waves, a new virulent virus strain, same pandemic.  

So why did you join the FSC? Most firms do so for our expertise in policy development and advocacy.

Eighteen months ago, we set wheels in motion for a significant long-term project, to map the value of financial advice for Australians.

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