Palmer United Party leader Clive Palmer has told the Abbott government his support for its Future of Financial Advice (FoFA) laws depends on the inclusion of specific transparency provisions and safeguards for investors, The Australian Financial Review reports.
According to the newspaper, Mr Palmer has pulled back from his previously flagged position of siding with Labor and the Greens to oppose the reforms and instead has passed on his list of demands to finance minister Mathias Cormann.
Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.
The AFR reports Senator Cormann declined to comment on the developments, but it is expected that if Mr Palmer's demands are not met he will likely side with Labor and the Greens in opposing the reforms.
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