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Association backs rejection of FoFA amendments

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Australian Broker | 25 Nov 2014, 04:43 AM Agree 0
Claims that financial services will become more expensive as a result of the motion to disallow amendments to the FoFA laws do not stand up to scrutiny, according to Industry Super Australia
  • Incognito | 25 Nov 2014, 10:28 AM Agree 0

    What the heck were the lib's thinking?

    Weakening FoFA laws fails every logic test.
  • Peter Heinrich | 25 Nov 2014, 10:56 AM Agree 0
    If indeed reducing FoFA Laws would have saved billions of dollars the government did an appalling job selling it. Why was it so good to water it down? After the Storm issues and several others the timing couldn't have been worse. Consumers were seriously bleeding, the major players were playing hard ball and the government was promoting watering down disclosure rules because theoretically 'it will cost more'?? I use a financial planner and him doing the right thing hasn't cost me a cent more. I have asked what the savings might be if the rules were watered down and he really couldn't tell me because he wasn't sure. The old expression - if it looks like a rat and smells like a rat ...... The big players seem all over this and I think we have just seen a victory for consumers???
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