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Aussie advisers told: Commission disclosure optional

Thursday 31st of January 2013

Advisers across the ditch have been told they do not need to declare commission payments to clients under the Future of Financial Advice (FOFA) industry reforms.

While the FOFA reforms oblige advisers to issue new and existing clients with a fee disclosure statement, the Australian Securities and Investments Commission (ASIC) said commission payment were not deemed to constitute an ongoi...

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