The key takeaways from Shaping Advice Summit 2026: Event wrap up
The key takeaways from Shaping Advice Summit 2026: Event wrap up
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Industry Insights
Inside the FSC’s Technology in Wealth Summit: Event wrap up
Nearly 300 leaders from 100 companies across financial services technology, advice, superannuation and investment management gathered at the Four Seasons Hotel Sydney on 6 May for the FSC’s Technology in Wealth Summit 2026.
Event Wrap-Up - Meeting Consumers Where They Are: FSC Unpacks Digital Financial Advice
On 14 April 2026, the FSC launched its latest research, The Role and Value of Digital Advice in Australia. Bringing together industry leaders across superannuation, financial advice businesses, and digital advice providers, the event examined how digital financial advice is being deployed in practice and what it means…
FSC Leads the Conversation on Innovation in Retirement
The Financial Services Council’s Innovation in Retirement forum, held in Sydney on 16 October 2025, welcomed a capacity audience of over 280 attendees from more than 80 companies. Drawing on its deep connections across industry, government, and regulation, the FSC brought together CEOs and senior leaders from the…
Event wrap-up - Shaping Advice in a Time of Change
The Financial Services Council’s Shaping Advice in a Time of Change was a sell-out event, drawing 275 attendees from across the financial advice ecosystem in Sydney on 30 July.
Op-Ed - Reduce the red tape and make it cheaper for ordinary punters to find reliable financial advice
There’s an old joke, that the only person excited on a Monday is a retired person.
Op-Ed - Financial services industry calls for economic growth agenda
The Australian economy is in a malaise, with Gross Domestic Product (GDP) slowing over the course of 2024 and, outside the COVID-19 economic shock, now recording the weakest rate of GDP growth in a generation.
Government responds to the Quality of Financial Advice Review
The Financial Services Council has welcomed the Government’s response to the Quality of Advice Review and its commitment to remove costly red tape imposed on financial advisers this year.
Measure super’s success against retirement incomes, not the size of the pool
The success of Australia’s superannuation system is too often measured by its rapid growth to $3.4 trillion in savings, not by its actual objective, which is to provide income for Australians in retirement.
Better financial advice can benefit all Australians
Financial advice delivers a direct, tangible benefit to consumers, and the failure of the current regulatory framework to deliver affordable advice on the topics consumers need is causing financial harm to millions of Australians.
Time is now for meaningful advice reform
One of the great errors we make in life is overcompensating for our last mistake.
Policy and Advocacy update - July 2022
Next month, the new Government will have just ticked over their first 100 days. Early signs, including regular engagement in Canberra by the FSC, indicate the new Government is focused on implementing election commitments.
FSC liaison with Australian Taxation Office steps up
The FSC works closely with the Australian Taxation Office (ATO) on many issues of importance to members.
Next steps for the Corporate Collective Investment Vehicle
An important reform to financial services, Corporate Collective Investment Vehicle (or CCIV) came into operation on 1 July this year. The CCIV will provide, for the first time, an Australian investment vehicle that combines the corporate legal framework of a company with flow-through tax treatment.
Updating the FSC investment management agreement
The FSC continues work on updating the FSC investment management agreement (IMA).
Key superannuation policy priorities of the new Government
Now that the Government has determined its key Ministerial appointments and gets underway with implementing its legislative agenda, it’s timely to briefly examine the three key areas of Government focus over the next year when it comes to superannuation.
Greater consistency and accuracy needed to avoid greenwashing
With growing funds under management in ESG themed investment products, ASIC undertook a thematic review into greenwashing, looking into the disclosures of selected managed funds and superannuation funds.
Strong industry alignment on Quality of Advice Review
The FSC has committed to a joint submission to the Quality of Advice Review between 11 advice associations that is aligned to the FSC’s policy positions.
Life Insurance Framework Evaluation
The FSC recently published its submission to the Quality of Advice Review that importantly included a response to Treasury’s evaluation of the Life Insurance Framework (LIF).
Policy and Advocacy update - June 2022
It’s been just over a month since the 2022 Federal Election, with the new Albanese Government getting off to a quick start. Key Treasury Ministers have been confirmed with Treasurer Jim Chalmers, Minister for Financial Services Stephen Jones and Assistant Minister for Competition, Charities and Treasury Andrew Leigh…
Reducing the cost of providing financial advice is the key issue facing the Quality of Advice Review
With Financial Services Minister, Hon Stephen Jones, reinforcing no changes to the Terms of Reference for the Quality of Advice Review last week, one thing is clear: reducing the cost of providing advice to allow more advice on the issues consumers need and want while ensuring they are protected - is the key issue…
ASIC consultation on proposed DDO exemption for reissue of insurance policies
ASIC is conducting a targeted consultation in response to a FSC request for life insurers to be exempt from the design and distribution obligations (DDO) in certain limited situations.
Updated Guidance for Corporate Collective Investment Vehicles
ASIC released new and updated guidance for corporate collective investment vehicles (CCIVs) on 23 June. The requirements come into effect on 1 July 2022, when the CCIVs regime commences.
The Genetics Moratorium Review
In June 2019, the FSC introduced the Moratorium on Genetic Tests in Life Insurance.
Supporting greater gender diversity
There is extensive research showing that organisations directly benefit from diversity in a range of ways; diversity of thought, improved decision making, new innovation and better financial performance. Yet the data around organisational diversity is not at desired levels.
Updating the FSC investment management agreement
The FSC continues work on updating the FSC investment management agreement (IMA). The FSC is continuing dialogue with members and legal counsel what some of the key changes and updates are likely to be.
Australian Superannuation and Infrastructure Investment Vehicle
It’s almost thirty years to the day marking Australia’s transformation into a nation of compulsory savers with the introduction of the superannuation guarantee. From humble beginnings, our superannuation system is now the fourth largest pension system in the world.
Making life easier for professional year candidates
Limiting the scheduling of financial adviser exams holds back professional year (PY) candidates because it takes them longer than one year to complete a professional year at a cost to both them and the licensee.
Improving the efficiency of Australia's superannuation system
Australians deserve a superannuation system that is fair, efficient and competitive. When it comes to the regulatory environment, Australian superannuation funds have been navigating the biggest reform agenda since the system’s inception.
Quality of Advice Review - limited advice
A regulatory framework that empowers consumers to get limited advice on simple or basic issues is the key outcome the FSC seeks from the Quality of Advice Review.
Regulating crypto in Australia
More than 800,000 Australians have transacted in digital assets over the past three years. However, due to regulatory uncertainty, growth in retail investment in digital assets has led to concerns that retail consumers are without adequate consumer protections.
2022 federal election called
With the 2022 election having been called on the weekend, the campaign period will see the FSC take stock in preparation for the outcome.
Clarification of application of unfair contract terms regime
The FSC has had success in advocating for changes to the unfair contract terms regime so that it appropriately caters for life insurance.
Financial Fraud and Regulating Google and Facebook
Major digital platforms such as Google and Facebook have been under greater scrutiny over the way their services, particularly through targeted advertisements and taking advantage of algorithms, can be used to spread misinformation.
Quality of Financial Advice Review
By the end of this year all of us will have a picture of what the advice sector could look like when Michelle Levy’s Review makes its recommendations to government.
ETF Naming Conventions
The FSC supports simplifying ETF naming conventions to enhance consumer understanding.
Life Insurance Framework
Treasury’s Quality of Advice review will determine the policy settings of life insurance for years to come and show that the Life Insurance Framework has been an effective reform that has protected consumer outcomes.
Guidance for Divesting Russian Assets
The FSC has released guidance to assist superannuation trustees and fund managers with divestment of Russian assets, consistent with the strong expectations outlined by the Government.
The redesign of financial advice is underway
Over-regulation has caused the unprecedented attrition of advisers from the industry. The advice sector begins the year with an estimated 18,500 advisers, having experienced a 25% decline from over 25,000 advisers three years ago, in a market of 2.6 million consumers of financial services.
Corporate Collective Investment Vehicle (CCIV) now law
The FSC was very pleased that the CCIV passed Parliament in February and is now law. The FSC welcomed the implementation of this historic reform for financial services.
Superannuation fund holdings for Russian assets
On the 3rd of March 2022, the Federal Government confirmed its strong expectation that Australian superannuation funds will review their investment portfolios and take steps to divest any holdings in Russian assets.
Compensation Scheme of Last Resort (CSLR) update
On 25 November 2021, the Senate referred the Financial Accountability Regime and CSLR legislation to the Economics Legislation Committee (Committee) for inquiry and report by 15 February 2022.
Why taking a genetic test won’t stop you getting life insurance
In 2019 Australian life insurers introduced a Moratorium on using genetic test results to assess life insurance applications.
ASIC regulated entities encouraged to adopt enhanced cyber security position
The Australian Cyber Security Centre (ACSC) recently issued an alert supporting Australian organisations adopting an enhanced cyber security position to improve their cyber security resilience in the current “heightened threat environment”.
Foreign Financial Services Provider regime update
The revised Foreign Financial Services Provider Bill was introduced on 17 February 2022 in the House of Representatives.
Compensation Scheme of Last Resort
The Financial Accountability Regime Bill 2021 and Financial Services Compensation Scheme of Last Resort (“CSLR”) Levy Bill 2021 and related bills were referred to the Senate Economics Legislation Committee (“Committee”) for inquiry and report by 15 February 2022.
FSC welcomes new Executive Director for Advocacy
Spiro Premetis has started at the FSC as our Executive Director for Advocacy, bringing with him extensive experience in financial services policy and politics.
The value of life insurance
As we draw stumps for 2021, it’s natural that we may feel in some way compelled to look back and reflect on the year we’ve, at times, had to struggle to get through.
A stronger and more resilient industry
The financial services industry is closing out a challenging 2021, not only as a result of the continuing reverberations from COVID-19, but due to the significant waves of regulation that were implemented or commenced operation.
Modern Slavery Amendment Bill 2021 (NSW)
The Modern Slavery Amendment Bill 2021 has been passed by New South Wales Parliament on 14 October 2021. This Bill amends the Modern Slavery Act 2018 (NSW), with the amended Bill will now commencing on 1 January 2022.
Competition in Funds Management
ASIC asked Deloitte Access Economics to undertake independent research examining competition in the funds management sector with a focus on the outcomes that the industry is delivering for investors in retail managed investment schemes.
The Financial Accountability Regime (FAR) progresses
The Financial Accountability Regime draft bill (FAR Bill) was introduced into the House of Representatives on Thursday 28 October.
Ensuring Australians have certainty over their insurance cover
When the Government’s ‘Your Future, Your Super’ reforms were passed this year they introduced an important consumer protection to ‘staple’ superannuation members to their fund, so that they take their superannuation account with them from job to job. The stapling regime came into effect on 1 November.
Next steps on the White Paper on Financial Advice
The launch of the FSC’s White Paper on Financial Advice this month has been well received. While it will hard code the philosophy and direction of FSC advocacy for the sector going forward – reform cannot come soon enough.
Leading the development of solutions to reduce compliance burdens – one of the biggest differences industry bodies can make
The FSC has made no secret of the need to reduce the regulatory burden on the financial services industry, particularly financial advice, in its advocacy to Government and regulators.
Capital concentration and competition policy – serious issue or tilting at windmills?
The House of Representatives Standing Committee on Economics is currently holding an inquiry into the implications of common ownership and capital concentration in Australia.
Another milestone for the Life Code
Tuesday 28 September 2021 was an important milestone for the life insurance industry.
Professional advice is the safest vehicle for embracing a brave new world of information and wealth
The recently released Intergenerational Report shows the implications of an ageing population with rising health costs and fewer taxpayers by 2060.
Are you ready for the commencement of the DDO regime?
The start date of the Design and Distribution Obligations, or DDO, is rapidly approaching.
Financial Accountability Regime (FAR) update
The FSC made a submission on 13 August to Treasury in respect of the Financial Accountability Regime (FAR) draft Bill, a recommendation of the Hayne Royal Commission due to start from 1 July, 2023.
FSC collaborates with advice sector on advice fee consent and independence disclosure
It seems almost every day that a new regulation prescribing another form of disclosure is being piled onto the advice sector.
It’s time to elevate retirement income
A shiny new Intergenerational Report (IGR) is like Christmas for policy wonks.
FSC Gender Diversity initiative – Women in Investment Management Charter
The FSC was proud to launch the FSC Women in Investment Management Charter (WIM Charter) at a recent joint event with Mercer, which delivered solutions to improve gender diversity in investment management.
Consumer Data Right: A strategic assessment
The Government is consulting on its rollout of the Consumer Data Right (CDR) to various parts of the economy by the end of this decade.
FSC collaborates with advice sector on advice fee consent and independence disclosure
It seems almost every day now that a new regulation prescribing another form of disclosure is being piled onto the advice sector.
Policy work continues on important issues
The FSC has been caught up in the broad-based NSW lock down, which impacts our Sydney CBD office.
The FSC’s proposal for simpler advice documents
A focus for the FSC in our review of financial advice laws is finding opportunities to streamline regulation that is holding back the industry from delivering lower cost and higher quality service to consumers.
Australian Death Notification Service
Have you heard of the Australian Death Notification Service? Well if you have, you’re in the minority.
APRA climate risk guidance
APRA has released its draft Prudential Practice Guide CPG 229 on managing climate change financial risks.
We need to talk about how we talk to members
I’m not a financial adviser, but that doesn’t stop everyone, from colleagues to family members to my hairdresser, asking what they should do with their super.
Critical need for efficient management of Legacy Products
Legacy products are financial products that are well past their “use by” date, as they are no longer issued to new retail customers and over time the number of remaining few customers gradually decreases.
FSC Green Paper on financial advice will offer comprehensive debate on affordability and accessibility
The FSC wants comprehensive debate about the affordability and accessibility of financial advice in Australia, and the best solutions to secure that.
ASIC competition in funds management review
The funds management sector represents $2.3 trillion in consolidated assets and is a key part of the Australian financial services sector, thus prompting ASIC to undertake a competition review of funds management.
Make this major issue a positive one for consumers
We constantly talk about removing red tape, but it almost never gets done.
Design & Distribution Obligations (DDO) updates
The FSC is doing extensive work to help members prepare for the start of the Design & Distribution Obligations (DDO) regime, which begins in October 2021.
Navigating the Design & Distribution Obligations, & Exchange Traded Funds
With the Design and Distribution Obligations (DDO) due to commence 5 October this year, the release of ASIC Regulatory Guide RG 274 Product Design and Distribution Obligations (RG 274) in December 2020 was eagerly anticipated by the industry.
FSC policy priorities for 2021
I was very pleased to recently host the FSC’s policy team in a detailed member briefing on the policy priorities for 2021.
When all of this is over how do we want financial advice to look?
In the initial stages of the pandemic, writer Elif Shafak, in her recently published essay How to Stay Sane in an Age of Division, recalled seeing signage spring up in parks in London with the question: “when all this is over how do you want the world to be a different place?”.
FSC welcomes new appointment to Board
The FSC welcomes Andrew Morgan, Acting Managing Director of MLC Wealth as a Director to the FSC Board.
Considered design required for timely changes to the super system
Parliament will very soon have the opportunity to debate the Government’s ‘Your Future, Your Super’ reforms that were announced in the October 2020 Budget.
Royal Commission recommendations pass Parliament
The Government legislated a second tranche of Royal Commission recommendations, with the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 passing Parliament on the final sitting day of 2020.
Nothing Shy about the Retirement Review
Policy wonk heaven over the Christmas break will surely be relaxing on the back deck with a beer and a copy of the recently released Retirement Income Review.
Consumer Data Right (CDR) and the financial services industry
Lisa Schutz is Managing Director of Verifier – a consumer driven data sharing platform that puts people in control of their data to get better service and better outcomes in financial services.
Building momentum behind a simpler and less costly advice value chain
It might be the year all of us wish to forget, but the consequences of COVID-19 have been defining moments for many – and for advice, 2021 is the year in which the industry charts a new course.
Investment Summit shows capitalism needs ESG
The economist Milton Friedman famously said that in a market economy, ‘there is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game.’
Big hitters debate big challenges at inaugural FSC Investment Summit
Climate change. Regulation. COVID-19. Recession. Populism. All these topics and more were tackled by local and international speakers at the FSC’s inaugural Investment Summit this week.
Actuarial Talent in the Year of Pandemic
Christmas is around the corner (sure does not feel like it) but ironically feels premature given the prolonged months of slow activity during 2020 for reasons well-known.
What does competition look like in a Your Super future?
Default super is about to become a whole lot more competitive, but perhaps not in the way many of us imagined.
Future of financial advice debated by industry’s leading lights
Many of Australia’s best and brightest minds in financial services gathered online to help shape the future of financial advice this week.
An ideal financial advice system
Nicole Salimbeni, Partner, Financial Services and Consumer Business Leader, PwC comments on achieving more accessible advice for consumers, plus what an ideal financial advice system looks like.
A pursuit to contribute positively to the mental health of our fellow Australians
Super chuffed about the opportunity to write the guest blog for the mental health and life insurance virtual roundtable; I did the Gen X thing and googled “features of a great blog”.
The need for, and value of, financial advice
Nathan Jacobsen, Managing Director, Paragem comments on the licensee’s role in the future landscape of advice in Australia
Financial advice and the future
Jodie Hampshire, Managing Director, Australia at Russell Investments comments on the benefits of a scaled advice solution for consumers.
Electronic execution and remote witnessing of documents: things writ in water?
The COVID-19 pandemic has given rise to much reflection on the ever-present topics of execution and witnessing of documents.
Dear Treasurer – red tape removal for loans (✔️); next move – super reform
Is that the sound of the first shredding of red tape in financial services?
In Conversation with Andrew Landman – Chief Executive & Head of Australasia, BlackRock Investment Management and FSC Director
Formerly BlackRock’s Head of Client Business for Asia-Pacific, based in Hong Kong for five years, Andrew Landman has returned to Australia during an exceptionally interesting time for the financial services sector. We asked Andrew to comment on some of today’s key industry activities.
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