{"id":21142,"date":"2013-05-29T07:04:27","date_gmt":"2013-05-28T21:04:27","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=21142"},"modified":"2013-05-29T07:04:27","modified_gmt":"2013-05-28T21:04:27","slug":"enshrinement-bill-passes-house-of-reps","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2013\/05\/29\/enshrinement-bill-passes-house-of-reps\/","title":{"rendered":"Enshrinement Bill Passes House of Reps"},"content":{"rendered":"

The Bill to enshrine the terms \u2018financial planner\/adviser\u2019 has been passed by the House of Representatives.<\/p>\n

<\/p>\n

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Bill Shorten<\/figcaption><\/figure>\n

The new legislation amends the Corporations Act, making it an offence for anyone to call themselves a financial planner or financial adviser, unless they are appropriately authorised by the Australian Securities and Investments Commission (ASIC).<\/p>\n

Presenting the Bill before the House of Representatives, Minister for Financial Services and Superannuation, Bill Shorten<\/strong>, said: \u201cBy legislatively defining the terms \u2018financial planner\u2019 and \u2018financial adviser\u2019, the amendments enable consumers to be able to easily identify genuine financial product advice providers. By preventing anyone who is not a qualified financial planner or financial adviser from telling consumers that they are, the amendments make it easier for consumers to know who to trust with their financial affairs.\u201d<\/p>\n

The Association of Financial Advisers (AFA) welcomed the passage of the Bill, saying it was an important step in creating consumer understanding of the role and responsibilities of a licensed provider of financial advice.<\/p>\n

\u201cThe AFA continues to believe that the legislation is good for both consumers of financial advice services and for the financial advisers who provide those services,\u201d said AFA CEO, Brad Fox<\/strong>.<\/p>\n

\u201cIt will help consumers identify a trained, qualified provider from any other individual purporting to have this expertise,\u201d he added.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Bill to enshrine the terms \u2018financial planner\/adviser\u2019 has been passed by the House of Representatives.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-21142","post","type-post","status-publish","format-standard","category-compliance-regulation"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/21142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=21142"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/21142\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=21142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=21142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=21142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}