Bill
Corporations Amendment (Streamlining Advice Process) Bill 2024
lapsed, as at 2025-03-28.
- Sponsor
- Bert Van Manen
- Portfolio
- Not recorded
Recorded stages
- introduced — 2024-11-04
- second reading — 2024-11-04
- other — 2025-03-28
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2024-11-04.
The bill would change how financial advisers and clients agree on advice before it is given.
Advisers would provide a short Letter of Engagement and a simplified Record of Advice to the client.
The bill follows the Quality of Advice Review's recommendations on the Statement of Advice and the Good Advice Duty, and fee disclosure rules would not change.
- Creates a Letter of Engagement to be given before any financial advice is provided.
- Streamlines the Record of Advice supplied to the client.
- Reduces administrative work for advisers through a simpler engagement process.
Financial advisers (providing entities) and their clients.
Sources
em
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