FastClass: One hour online courses - learn anytime, anywhere

The Future of Financial Advice (FoFA) reforms were implemented by the then Government in response to the recommendations made by the Parliamentary Joint Committee on Corporations and Financial Services Inquiry into Financial Products and Services in Australia, known as the Ripoll Inquiry.

This online course will provide an analysis of the impact of these reforms on the provision of advice to clients.

Key topics:

  • A brief background and overview of FoFA
  • An analysis of the impact of the specific FoFA reforms, including:
  • the best interests duty obligations
  • the ban on conflicted remuneration
  • the requirement for fee disclosure statements and renewal notices in regard to ongoing fees
  • The current legislative position at May 2015 of the FoFA measures

This one hour online course forms part of the FastClass short course suite.

Learning objectives

  • Outline the obligations of the best interests duty
  • Understand and apply, where applicable, the ban on conflicted remuneration
  • Understand and apply, where applicable, the requirements to issue a fee disclosure statement and/or an opt-in notice in respect of ongoing fees

Audience

This course is suitable for:

  • accountants who are licensed to provide SMSF advice
  • employees of accountants who are licenced to provide SMSF advice
  • SMSF auditors
  • trustees of SMSFs

365 Days

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