SMSF Association Submission
The SMSF Association welcomes the opportunity to provide this submission in response to the
Consultation Paper on Standard 3 of the Financial Planners and Advisers Code of Ethics 2019 (‘the
The submission outlines three options, however, out of the proposed, we are of the opinion that option one, which incorporates FASEA’s intent into the standard, is the most appropriate.
- Option 1: You must only advise, refer or act where you do not have a conflict of interest or duty, being that which could reasonably be expected to induce you to act other than in the client’s best interest.
- Option 2: You must not receive any benefit, nor enter into any relationship, that could reasonably be expected to influence the advice you give or the service you provide to your client.
- Option 3: You must not advise, refer or act in any other manner where you have a conflict of interest or duty.