Original article by Lucy Dean
The Australian Financial Review – Page: 17 : 5-Oct-22

Industry Super Australia has used its submission to the Quality of Advice Review to criticise the proposal to water down the ‘best interests duty’. The new duty to provide ‘good advice’ would apply to financial services providers such as superannuation funds and banks. ISA contends that the good advice obligation will materially change how financial advice is offered and regulated, and will most likely result in lower quality of advice. The Association of Superannuation Funds of Australia and the Financial Services Council have expressed support for the proposed changes.

CORPORATES
INDUSTRY SUPER AUSTRALIA PTY LTD, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, FINANCIAL SERVICES COUNCIL