Support for QoA Review’s Current Terms of Reference – Minister

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Assistant Treasurer and Minister of Financial Services Stephen Jones has met with the independent reviewer conducting the Quality of Advice Review, Michelle Levy, and says he supports the review continuing under its current Terms of Reference.

In a statement the Minister says the review “…provides an important opportunity to streamline and simplify the regulatory settings for financial advice to reduce cost and remove duplication.”

Stephen Jones.

Alongside the review, Jones says he remains committed “…to looking at reforms now to assist financial advisers in being able to meet the needs of their clients including the education requirements for experienced financial advisers.”

He is pleased with the progress of the review, “…and the significant contribution that the financial advice industry, consumer bodies and regulators have made to the review’s progress to date.”

Jones looks forward to receiving the review’s final report and recommendations on 16 December 2022.