Do you specialise in professional indemnity insurance for financial advisers and AFSL holders?
August 16, 2023
As government consults with industry on their response to the Quality of Advice Review, it is important that any unintended consequences of the recommendations are identified and resolved prior to implementation.
The government has requested feedback on the potential impact of the recommendations on the cost of professional indemnity insurance for financial advisers and AFSL holders, in particular the proposal to replace the existing prescriptive Statement of Advice requirements with a requirement to maintain “fit for purpose” records of advice.
NIBA is seeking feedback from members who specialise in this area and wish to provide feedback to inform Treasury’s approach to implementation. Members can provide in writing to info@niba.com.au