The Government has announced a dedicated industry working group to consult on the establishment of a public register of financial advisers.
This was part of the deal the Government made with the Palmer United Party to secure the votes to stop the FoFA change regulations being disallowed by the Senate.
As stated in the letter from Acting Assistant Treasurer Mathias Cormann to Clive Palmer, also stated in the media release following the vote:
“the Government will work in consultation with all relevant stakeholders, to establish an enhanced public register of financial advisers (including employee advisers), which includes a record of each adviser’s credentials and status in the industry.”
This part of the deal appears to be outside the 90 day limit on some of the other conditions, leaving more time for consultation.