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The Australian Government is Justified in Establishing a Single Disciplinary Body

Author

Listed:
  • McInnes Angelique

    (CQUniversity Australia, Level 21, 160 Ann Street, Brisbane, 4000 Australia)

Abstract

Published empirical research (McInnes 2020) proves licensing financial advisers through multiple profit-driven Australian Financial Services licensees contributes to conflicts of interest by association. Government’s response is to regulate advisers by adopting a single disciplinary body (Frydenberg & Hume 2019) to professionalise advisers like established professions. This paper supports Government’s move to implement this body (Taylor 2020c; Maddock 2020), albeit delayed by COVID-19 (Taylor 2020a), by using the evidence published in a Routledge book (McInnes 2020). It aims to motivate advisers to work with policymakers to reshape financial advice into a true, accredited profession to address the problem of conflicted association, to make advice accessible (Marsh & Phillips 2019) and conflict free, while also dismantling costly compliance legislation (Smith & Sharpe 2020).

Suggested Citation

Handle: RePEc:vrs:finprj:v:6:y:2020:i:1:p:40-73:n:1003
DOI: 10.2478/fprj-2020-0003
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