MenuFAAA Submissions
An important part of the FAAA’s work to influence policy is the development of formal submissions to Federal or State government departments such as Treasury or regulators such as ASIC.
2024 Submissions
APR
Treasury
19 April 2024
MAR
AUSTRAC
22 March 2024
Department of Health and Aged Care
8 March 2024
Home Affairs
1 March 2024
FEB
Senate Economics Committee
23 February 2024
Australia Taxation Office
23 February 2024
Senate Standing Committee Economics
23 February 2024
Tax Practitioners Board
16 February 2024
Treasury
9 February 2024
JAN
Treasury
31 January 2024
Treasury
29 January 2024
Treasury
25 January 2024
Treasury
23 January 2024
Senate Standing Committees on Economics
19 January 2024
Retirement, Advice and Investment Division
10 January 2024
2023
- Life Insurance Discussion Paper – Insurance Data Transformation
APRA
22 December 2023 - Discussion Paper – Strategic and Transfer Planning – Enhancing Member Outcomes
APRA
21 December 2023 - Delivering Better Financial Outcomes – reducing red tape and other measures
Retirement, Advice and Investment Division
6 December 2023 - The AFCA Approach to determining compensation in complaints involving Financial Advisers and Managed Investment Schemes
AFCA
1 December 2023 - Achieving Greater Consistency in Laws for Financial Enduring Powers of Attorney
Attorney-General’s Department
29 November 2023 - Exposure Draft – Treasury Laws Amendment (Better Targeted Superannuation Concessions) Bill 2023
Superannuation Tax Unit
18 October 2023 - Review of the regulatory framework for managed investment schemes
Treasury
3 October 2023 - PwC Response – Tax Practitioners Board Reforms, Information Sharing and Whistleblower Protections
Treasury
4 October 2023 - Legislating the Objective of Superannuation
Treasury
29 September 2023 - Proposed extension of design and distribution obligations instrument
Australian Law Reform Commission
25 August 2023 - Draft Financial System and Regulator Metrics Framework
Treasury
1 August 2023 - Financial Services Legislation – Interim Report C (“Interim Report C”)
Australian Law Reform Commission
1 August 2023 - Modernising Australia’s AML/CTF regime and introducing Tranche 2
Attorney-General’s Department
16 June 2023 - Consultation on proposed amendments to AFCA Rules and Operational Guidelines
AFCA
22 May 2023 - “Experienced provider” pathway and technical amendments Submission
Treasury
3 May 2023 - Superannuation Performance Test Regulations 2023
Treasury
2 May 2023 - Better targeted superannuation concessions
Treasury
17 April 2023 - Treasury Laws Amendment (2023 Measure No.1) Bill 2023
Senate Standing Committees on Economics Legislation
6 April 2023 - Draft Australian Skills Classification occupation profiles
Department of Employment and Workplace Relations
1 March 2023 - Inquiry into capability of ASIC
Senate Economics Committee
28 February 2023 - Non-arm’s length expense rules for superannuation funds
Treasury
21 February 2023 - New thinking on professional development (CPD)
NSW Productivity Commission
17 February 2023 - 2023-24 Pre-Budget Submission
Treasury
27 January 2023
2022
- Australian Law Reform Commissions Review of the Legislative Framework for Corporations and Financial Services Regulation – Interim Report B
ALRC
30 Nov 2022 - Quality of Advice Review – Conflicted Remuneration Submission
Treasury
14 Nov 2022 - ASIC Industry Funding Model Submission
Treasury
8 Nov 2022 - Your Future Your Super Review
Treasury
14 October 2022 - Exposure Draft Corporations Amendments (CSLR) Regulations 2022
Treasury
7 October 2022 - Submission to the Senate Economics Legislation Committee Inquiry into Financial Services Compensation Scheme of Last Resort Levy Bill 2022
- Quality of Advice Review Proposals Paper
Quality of Advice Review (Treasury)
26 September - Financial Adviser Education Standards
Treasury
20 September - Improving Corporations and Financial Services Law / Rationalisation of Ending ASIC Instrument Measures
Treasury
6 September 2022 - Pre-Budget Submission (October 2022 Federal Budget)
Treasury
2 September 2022 - Social Services and Other Legislation Amendment (Lifting the Income Limit for the Commonwealth Seniors Health Card) Bill 2022
Senate Standing Committees on Community Affairs
12 August 2022 - Cost Recovery Implementation Statement: ASIC industry funding model (2021–22)
ASIC
15 July 2022 - Post implementation review on the removal of the stamping fee exemption
Treasury
15 July 2022 - Crypto asset secondary service providers: licensing and custody requirements
Treasury
6 July 2022 - National Drought Agreement Review
Department of Agriculture, Water and the Environment
30 June 2022 - Australian Law Reform Commissions Review of the Legislative Framework for Corporations and Financial Services Regulation – Background Papers FSL5 and FSL6
Australian Law Reform Commission
27 June 2022 - Joint Advice Working Group Submission
Treasury – Quality of Advice Review
17 June 2022 - Quality of Advice Review submission
Treasury
10 June 2022 - AFCA Proposed Funding Model
AFCA
22 April 2022 - AUSTRAC consultation on guidance on source of funds and source of wealth
AUSTRAC
1 April 2022 - ASIC Consultation Paper 359 – Update to RG 263 Financial Services and Credit Panel
ASIC
28 March 2022 - Australian Law Reform Commissions Review of the Legislative Framework for Corporations and Financial Services Regulation – Interim Report A
Australian Law Reform Commission
25 February 2022 - CP350 – Consumer remediation- Further consultation: Update to RG 256
ASIC
11 February 2022 - Quality of Advice Review – draft Terms of Reference
Treasury
4 February 2022 - Compensation Scheme of Last Resort – Response to Question on Notice
Senate Economics Legislation Committee
3 February 2022 - Financial Adviser Education Standards
Treasury
2 February 2022 - 2022/23 Budget submission
Treasury
28 January 2022
2021
- Compensation Scheme of Last Resort
Senate Economics Legislation Committee
17 December 2021 - Corporate Collective Investment Vehicle Framework and Other Measures Bill 2021 [Provisions] – Retirement Income Covenant
Senate Standing Committees on Economics
8 December 2021 - Inquiry on the adequacy and efficacy of Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime – Questions on Notice
Senate Legal and Constitutional Affairs References Committee
1 December 2021 - Better Advice Bill – Exposure Draft Regulations
Treasury
15 October 2021 - Retirement Income Covenant – draft legislation
Treasury
29 September 2021 - Second round of miscellaneous amendments to Treasury portfolio laws 2021
Treasury
28 September 2021 - Proposed updated amendments to the design and distribution obligations
ASIC
27 September 2021 - Inquiry on the adequacy and efficacy of Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regime
Senate Legal and Constitutional Affairs References Committee
27 August 2021 - Design and Distribution Obligations (DDO) Interim Relief (proposed amendments to the DDO regime)
Treasury
24 August 2021 - Single Disciplinary Body – Policy Paper
Treasury
20 August 2021 - Consultation Cost Recovery Implementation Statement: ASIC industry funding model (2020–21)
ASIC
13 August 2021 - Retirement Income Covenant Policy Paper – 2021 Position Paper
Treasury
6 August 2021 - National Register of Enduring Powers of Attorney
Attorney-General’s Department
30 June 2021 - Single Disciplinary Body for Financial Advisers
Treasury
14 May 2021 - Review of the Australian Financial Complaints Authority (AFCA)
Treasury
26 March 2021 - Exposure Draft Explanatory Paper TPB(EP) D44/2021 – Continuing professional education policy requirements for registered tax (financial) advisers
Tax Practitioners Board
11 March 2021 - CP335 – Consumer remediation: Update to RG 256
ASIC
1 March 2021 - Budget Submission 2020-21
Treasury
29 January 2021 - Financial Sector Reform (Claimant Intermediaries) Regulations 2020 Exposure Draft
Treasury
25 January 2021 - Consultation Paper 332: Promoting access to affordable advice for consumers
ASIC
18 January 2021
2020
- Review of the Privacy Act 1988
Australian Government Attorney-General’s Department
27 November 2020 - Growth/Defensive Categorisation Protocol
The Conexus Institute
29 September 2020 - Insurance Inquiry
Australian Small Business and Family Enterprise Ombudsman
28 August 2020 - Pre-Budget submission 2020-21 – supplementary
Treasury
24 August 2020 - Consultation on minor amendments to the CDR rules
Australian Competition and Consumer Commission
24 July 2020 - Questions on Notice – Senate Select Committee on Financial Technology and Regulatory Technology
Senate Select Committee on Financial Technology and
Regulatory Technology
15 July 2020 - CP329 Implementing advice fee consent and independence disclosure
ASIC
7 April 2020 - CP327 Mortgage brokers and best interest duty
ASIC
20 March 2020 - TPB review of CPE Policy
Tax Practitioners Board
18 March 2020 - CP325 Product design and distribution obligations
ASIC
11 March 2020 - Enhancing protections for Enduring Power of Attorney instruments
Attorney-General’s Department
9 March 2020 - 2020 Retirement Income Review (supplementary submission)
Retirement Income Review
9 March 2020 - FSRC Recommendation 2.1: Ongoing Fee Arrangements
FSRC Recommendation 2.2: Disclosure of non-independence
FSRC Recommendations 3.2, 3.3: Advice fees in superannuation
FSRC Recommendations 1.6, 2.7, 2.8, 2.9, 7.2: Reference checking and information sharing, breach reporting and remediation
Treasury
28 February 2020 - Stamping fee exemption
Treasury
20 February 2020 - Compensation Scheme of Last Resort
Treasury
7 February 2020 - Retirement Income Review
Retirement Income Review
3 February 2020 - Pre-Budget Submission
Treasury
31 January 2020 - Making insurance claims handling a financial service
Treasury
10 January 2020
The FPA Four Policy Pillars
The policy submissions we develop follow the four key principles of our strategic policy framework, known as our ‘Four Policy Pillars’. These pillars are:
- It must be in the public’s best interest
- It must enhance professional practitioners
- It must be in line with the Government and regulatory requirements
- It must adhere to the FPA Code of Professional Practice.
The FPA Four Policy Pillars
Read more about the Four Policy Pillars in this article from Financial Planning magazine.
Help us shape the future
Whilst we are extremely active in the development of policy submissions that affect financial advisers and consumers, it is our desire to give FAAA members a voice in this process.
If you would like to make a contribution to any ongoing policy issues, we would love to hear from you. You can submit your policy recommendation using this template. This will help you map out your policy recommendations in line with our Four Policy Pillars. Your completed submission can be emailed to [email protected].
