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ARTICLE · 19 DECEMBER 2008

Regulation Of Financial Advisers

DLA Piper Australia
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The Financial Advisers Act 2008 (Advisers Act) was passed at the end of September and already work is underway on the detail that is required for the Advisers Act to become fully operational in 2010.

AustraliaFinance and Banking
Sue Brown
Sue Brown
Tracey Cross
Tracey Cross
Alasdair McBeth
Alasdair McBeth
Rachel Taylor
Rachel Taylor

Introduction

The Financial Advisers Act 2008 (Advisers Act) was passed at the end of September and already work is underway on the detail that is required for the Advisers Act to become fully operational in 2010. With this objective, the Financial Advisers Act Commencement Order (Order) took effect on 5 December 2008. The Order sets in place the administrative provisions that enable officials to get started on some of the 'real work' behind the Advisers Act. In addition, the Securities Commission has already established a team to undertake much of the early consultation and drafting work and is currently in the process of meeting with interested parties to discuss the various timeframes and proposals for the Regulations and the Code moving forward.

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