Sinodinos hints at relaxing conflicted remuneration rulesBY MARK SMITH | THURSDAY, 14 NOV 2013 12:35PMAssistant Treasurer Arthur Sinodinos has suggested that some forms of remuneration currently regarded as conflicted may be allowed under the government's amendments to the Future of Financial Advice (FoFA) reforms. Related News |
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It's high time some reason returned to the financial services industry. Opt-in is so dangerous for both advisers and their clients because of human inertia (some businesses have done very well from human inertia).
Ditto for conflicted remuneration. The industry is already over-regulated and the former government seemed intent on adding to the onerousness of it.
I agree wholeheartedly Paul Herring. Let conflicts of interest continue to rule financial advisers' remuneration package!