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What is the Financial Services Reform Act?

April 26, 2017ACT Financial Services planning reform tools

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What is the Financial Services Reform Act?

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This is federal legislation that changes the way the public interacts with providers of financial services and products. The Act makes significant changes to the Corporations Act. The Financial Services Reform Act (FSRA): • brings various financial services and products under one licensing regime; • introduces a new disclosure regime for most financial products; establishes a standard of conduct for financial service providers.