Chapter Seven Problems | Financial Services | imac legal & compliance


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money management article

Problems with Chapter Seven

Key financial services laws need to be scrapped and redrafted afresh because they are too focused on the delivery of products rather than advice, according to a specialist financial services lawyer, Ian McDermott.

McDermott is urging the scrapping the of chapter Seven of the Corporations Act because of what he describes as inherent structural problems and complexity which have not been addressed by either the Future of Financial Advice (FOFA) changes or the industry’s self-directed moves towards becoming a profession.

Read the full article in Money Management


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