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Welcome to Issue 30 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. In this issue, the FSC team analyses requests for regulatory relief and waiver relating to the impact of COVID-19, Your Super, Your Choice and Enhancements to Unfair Contract Term Protections.  The FSC team is actively focused on triaging a number of issues across every portfolio in financial services, including but not limited to – writing to every state government and territory requesting that financial services be defined as an “essential service”; holding regular, often daily meetings with Government, regulators and agencies to (a) inform them of urgent and emerging market issues and (b) requesting relief and waiver from specific legislative and regulatory initiatives and sharing information with peer industry association colleagues in NZ and the UK, and here at home. Thanks again to those highly engaged members who understand the value of their industry association as a swift and well-connected conduit to decision-makers during this COVID-19 emergency. And while most of the BAU handbook has been shelved in the past fortnight, we have managed to deliver a comprehensive submission on Design and Distribution Obligations (DDO), among other things. Read more

Welcome to Issue 29 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry.  Firstly, the FSC has announced its support for the Government's temporary crisis measures regarding superannuation, announced by the Prime Minister and Treasurer yesterday (Sunday) here. Please see our media release here. Please see Treasury fact sheets of details on eligibility criteria for temporary early access to superannuation here, and temporary reduction of pension drawdown and reduction of social security deeming rates here. We have also written to the Treasurer, Josh Frydenberg and the Assistant Minister for Superannuation and Financial Services, Senator Jane Hume, seeking urgent relief and waiver for a number of regulatory and legislative initiatives as our members prioritise the operations of their businesses and focus on assisting their customers and clients during this time of national crisis. This request is in direct response to a note issued last week by the Council of Financial Regulators here where the Council stated that regulators were standing ready to deal with problems firms may encounter in complying with the law due to the impact of COVID-19. Read more

Welcome to Issue 28 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. In this issue, the FSC team analyses Life Code 2.0, the ASIC investigation related to the end of grandfathered commissions and draft legislation on improving flexibility for older Australians. Read more

Welcome to Issue 27 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. In this issue, the FSC team analyses a number of Royal Commission recommendations (and proposed legislation to implement them), Modern Slavery and the Retirement Income Review. Read more

Welcome to Issue 26 of the FSC Policy Update – a fortnightly member briefing on the main legislative and regulatory changes across the financial services industry. In this issue, the FSC team analyses Royal Commission Exposure Draft legislation, the Compensation Scheme of Last Resort (CSLR) and the Financial Accountability Regime (FAR). Read more

Welcome to Issue 23 of the FSC Update – a fortnightly member briefing on the main legislative and regulatory changes right across the financial services industry. In this issue, the FSC team analyses APRA's Superannuation Heatmap, Tax Practitioner’s Board activities and Enforceable Code Provisions. Read more

Welcome to Issue 22 of the FSC Update – a fortnightly member briefing on the main legislative and regulatory changes right across the financial services industry. In this issue, the FSC team explores the Compensation Scheme of Last Resort, APRA’s project to upgrade their superannuation data collection and a Future of Advice Webinar.  Read more

Ahead of the Federal Election on Saturday 18 May 2019, the FSC has prepared a summary of the major parties' policy positions relevant to financial services. Read more

The FSC Policy Update is a member-only monthly brief on the main legislative and regulatory changes right across the financial services industry. Click here for Issue 68 . Click below to see previous issues. . 2022 October/November - Issue 67 September - Issue 66 August - Issue 65 June/July - Issue 64 May - Issue 63 April - Issue 62 March - Issue 61 February - Issue 60 2021 December 13 - Issue 59 November 15 - Issue 58 October 18 - Issue 57 September 20 - Issue 56 August 23 - Issue 55 August 2 - Issue 54 June 28 - Issue 53 May 31 - Issue 52 May 3 - Issue 51 April 6 - Issue 50 March 8 - Issue 49. February 8 - Issue 48. . 2020 . December 7 - Issue 47 November 23 - Issue 46 November 9 - Issue 45 October 26 - Issue 44 October 12 - Issue 43 September 21 - Issue 42 September 7 - Issue 41 August 24 - Issue 40 August 10 - Issue 39 July 27 - Issue 38 July 13 - Issue 37 June 29 - Issue 36 June 15 - Issue 35 June 1 - Issue 34 May 18 - Issue 33 May 4 - Issue 32 April 20 - Issue 31 April 6 - Issue 30 March 23 - Issue 29 March 9 - Issue 28 February 24 - Issue 27 February 10 - Issue 26 January 28 - Issue 25 . 2019 . 9 December - Issue 24 25 November - Issue 23 11 November - Issue 22 28 October - Issue 21 14 October - Issue 20 30 September - Issue 19 16 September - Issue 18 2 September - Issue 17 19 August - Issue 16 5 August - Issue 15 22 July - Issue 14 8 July - Issue 13 24 June - Issue 12 11 June - Issue 11 27 May - Issue 10 13 May - Issue 9 29 April - Issue 8 15 April - Issue 7 29 March - Issue 6 18 March - Issue 5 4 March - Issue 4 18 February - Issue 3 5 February - Issue 2 21 January - Issue 1 Read more