Lawyers slam FoFA laws: report

By Staff Reporter

Prominent commercial law firm Allens Linklaters has launched a stinging attack on the Future of Financial Advice regulations, claiming they are “some of the poorest quality legislative ­provisions we have ever seen,” according to The Australian Financial Review.

In the law firm’s latest submission to the Financial Services Inquiry, Allens makes a case for scrapping all rules linked to financial product disclosure. “[The system is so] irretrievably broken that there is no real alternative to abolishing it and starting again,” Allens said, according to the AFR.

Read more here: Business Spectator


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