- Advocacy
SMSF Association Submission
The SMSF Association welcomes the opportunity to make this submission in response to Treasury’s consultation on options to curb harmful lead generation activity in financial services.
The Association supports the Government’s objective of preventing consumers from being
pressured, misled or channelled into inappropriate superannuation switching, financial product advice or investment arrangements. The consultation paper identifies conduct that may occur at the very beginning of a distribution chain, before a consumer reaches a licensed financial adviser, APRA
regulated APRA superannuation trustee, platform or financial product issuer. That upstream conduct can be decisive. Where it is commercially motivated, opaque and outside the financial services regulatory framework, it has the potential to expose consumers to significant financial harm.