{"id":28152,"date":"2014-11-26T15:47:09","date_gmt":"2014-11-26T04:47:09","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=28152"},"modified":"2024-11-22T11:07:33","modified_gmt":"2024-11-22T01:07:33","slug":"grandfathering-agreement-reached","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2014\/11\/26\/grandfathering-agreement-reached\/","title":{"rendered":"Grandfathering Agreement Reached"},"content":{"rendered":"<p><span style=\"font-size: 14px; line-height: 1.5em;\">The Government and Opposition have reached an agreement to re-instate elements of the Coalition\u2019s Future of Financial Advice amendments, including grandfathering arrangements.<\/span><\/p>\n<p><!--more-->In a short statement issued by the Minister for Finance and Acting Assistant Treasurer, Senator <strong>Mathias Cormann<\/strong>, the Government confirmed that it had given notice of a motion in the Senate to re-make some of the amendments that were disallowed last week (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2014\/11\/19\/senate-takes-axe-to-fofa-amendments\/\">Senate Takes Axe to FoFA Amendments<\/a>).<\/p>\n<p>Senator Cormann said the revised regulation would progress the \u2018broadly supported elements of the FoFA amendments\u2019.<\/p>\n<p>Specifically, the new regulation will set out:<\/p>\n<ul>\n<li>Amendments to the grandfathering provisions that will address unintended consequences, and facilitate competition in the financial advice industry, by enabling advisers to move licensees with their clients whilst continuing to receive grandfathered remuneration<\/li>\n<li>Amendments to the training and education provisions that specify that benefits in relation to education and training that relate to conducting a financial services business are not conflicted remuneration<\/li>\n<\/ul>\n<p>The regulation will also incorporate amendments to the stamping fee provisions, accountants\u2019 certificate renewal period and brokerage-related provisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Government and Opposition have reached an agreement to re-instate elements of the Coalition\u2019s Future of Financial Advice amendments, including grandfathering arrangements.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[259,8],"tags":[],"class_list":{"0":"post-28152","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-breaking","7":"category-compliance-regulation","8":"headers-new"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/28152","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=28152"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/28152\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=28152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=28152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=28152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}