Our latest poll asked if you agreed with the Government’s recently announced regime to regulate financial conduct.
At the time of writing, the majority of voters (57 percent) were in support of the Government’s announcement, however 36 percent said they did not support it and seven percent were not sure.
Considering the move intends to ensure the fairer treatment of consumers from banks, insurers and other financial service providers, it is surprising that not more advisers are in favour of the regime (see: Government Announces Conduct Licensing Regime for Insurers and Banks…).
However, leading commercial law firm KensingtonSwan recently shone a light on the increasing complexity of financial sector law, stating its concerns for the impact the Conduct of Financial Institutions (CoFI) reforms may have on Financial Advice Providers operating under FSLAA (see: Law Firm Concerned with Complexity of CoFI Review and FSLAA Reform…).
Do you agree with the Government’s regime? Do you think it will result in better consumer outcomes?
Our poll still remains open for another week. Click here if you’d like to place your vote…