Shedding the layers – Cutting complexity and our pathway to meaningful reform

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  • Regulators

National Conference 2022

With the quality of financial advice review set to commence, join newly appointed review lead Michelle Levy and our experienced and highly credentialed panel as they discuss why we need to cut complexity and achieve meaningful reform. What opportunities exist to streamline and simplify regulatory compliance obligations? Is principles-based regulation the answer? What do SMSF consumers really want and need that they aren’t already receiving? 

Panel members representing both the accounting and financial advice professions will discuss what a restructured and enhanced regulatory framework for accountants providing SMSF advice, and financial advisers providing tax financial advice, could and should look like. What SMSF advice should accountants be allowed to provide and under what regulatory settings? Is a level playing field finally within reach through the Advice Review?

At the end of this session, you will be able to: 

  • Recognise the barriers to providing high quality and affordable financial advice;
  • Identify the opportunities to reduce advice costs and remove duplication by streamlining and simplifying regulatory compliance obligations;
  • Explain the difference between principals-based and rules-based regulation, and;
  • Understand how the advice framework could be applied to different professions, including accountants providing SMSF advice.

The contents of this resource are taken to be correct at the time of publication.

Disclaimer: Technical Papers contain general advice only and are prepared without taking into account particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should assess its relevance to the individual circumstances of your client. While the SMSF Association believes that the information provided is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the Corporations Act 2001. © SMSF Association