Proposed FAA changes not a great shock: Goldsmith
Commerce Minister Paul Goldsmith told the Financial Markets Law conference this week that the paper will outline proposals for changes to the act.
He hopes to introduce a bill to Parliament early next year and have the changes passed before the general election later that year.
He says the current act made "some improvements but wasn’t perfect" and it was "expensive and confusing for consumers in terms of who is what and it is not consistent around disclosure requirements and is not enabling for roboadvice.”
While he isn't giving away what changes are being proposed the "new landscape won't be a great shock."
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