News

Client-first rule softened - why?

Tuesday 30th of January 2018

Under the Financial Services Legislation Amendment Bill that is before select committee, advisers will work under a duty to give priority to a client’s interests.

In the previous version of the bill, they had been required to put a client’s interest first.

In Australia, a recent court case between ASIC and NSG Services tested that country’s standard, which requires advisers to act...

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